conditions on exemption Compliance costs and No change Low to significant Significant costs indirect costs (indicative) for individual RCDFs. Moderate costs across the sector Leads to improved Does not meet Partially meets this criteria protection for retail investors this criteria this criteria Consistent with IMF Does not meet Partially meets Meets this criteria this criteria this criteria recommendations and Australia’s G20 commitments Summary: Nil Moderate Significant Compliance and indirect costs Prudential benefit Nil Moderate Strong Overall No change Moderate net Marginal net benefit benefit
conditions on exemption Compliance costs and indirect costs (indicative) No change Low to significant for individual RCDFs. Moderate costs across the sector Significant costs Leads to improved protection for retail investors Does not meet this criteria Partially meets this criteria this criteria Consistent with IMF recommendations and Australia’s G20 commitments Does not meet this criteria Partially meets this criteria Meets this criteria Summary: Compliance and indirect costs Nil Moderate Significant Prudential benefit Nil Moderate Strong Overall No change Moderate net benefit Marginal net benefit
Religious-Charitable-Development-Funds-RIS.docx