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Migration Amendment (Investor Retirement Visa) Regulations 2018

Authoritative Version
  • - F2018L00674
  • No longer in force
Regulations as made
These regulations amend the Migration Regulations 1994 to provide that applications for an Investor Retirement (Class UY) visa made on or after 1 June 2018 are only valid if the applicant is the holder of a Class UY visa, or if the last substantive visa held by the applicant since last entering Australia was a Class UY visa. The closure of the Class UY visa, which consists of one visa subclass, the Subclass 405 (Investor Retirement) visa, was announced in the 2018-19 Federal Budget, as part of the establishment of a pathway to permanent residence for current holders of the Retirement (Temporary)(Class TQ) visas and the Class UY visa. The Class TQ visa, which consists of one visa subclass, the Subclass 410 (Retirement) visa, is already closed to new applicants. The reason for the closure of the Class UY visa is that the visa no longer aligns with Australia’s economic priorities.
Administered by: Home Affairs
Registered 30 May 2018
Tabling HistoryDate
Tabled HR31-May-2018
Tabled Senate18-Jun-2018
Date of repeal 02 Jun 2018
Repealed by Division 1 of Part 3 of Chapter 3 of the Legislation Act 2003
Table of contents.
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Commonwealth Coat of Arms of Australia

 

Migration Amendment (Investor Retirement Visa) Regulations 2018

I, General the Honourable Sir Peter Cosgrove AK MC (Ret’d), Governor‑General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following regulations.

Dated 29 May 2018

Peter Cosgrove

Governor‑General

By His Excellency’s Command

Peter Dutton

Minister for Home Affairs

Minister for Immigration and Border Protection

 

 

 

  

  

Contents

1............ Name............................................................................................................................. 1

2............ Commencement............................................................................................................. 1

3............ Authority....................................................................................................................... 1

4............ Schedules...................................................................................................................... 1

Schedule 1—Amendments                                                                                                                          2

Migration Regulations 1994                                                                                                               2

 

1  Name

                   This instrument is the Migration Amendment (Investor Retirement Visa) Regulations 2018.

2  Commencement

             (1)  Each provision of this instrument specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.

 

Commencement information

Column 1

Column 2

Column 3

Provisions

Commencement

Date/Details

1.  The whole of this instrument

I June 2018.

1 June 2018

Note:          This table relates only to the provisions of this instrument as originally made. It will not be amended to deal with any later amendments of this instrument.

             (2)  Any information in column 3 of the table is not part of this instrument. Information may be inserted in this column, or information in it may be edited, in any published version of this instrument.

3  Authority

                   This instrument is made under the Migration Act 1958.

4  Schedules

                   Each instrument that is specified in a Schedule to this instrument is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its terms.

Schedule 1—Amendments

  

Migration Regulations 1994

1  At the end of subitem 1212B(3) of Schedule 1 (before the note)

Add:

                     (e)  Application may be made on or after 1 June 2018 by a person only if:

                              (i)  the person is the holder of an Investor Retirement (Class UY) visa; or

                             (ii)  the last substantive visa held by the person since last entering Australia was an Investor Retirement (Class UY) visa.

2  In the appropriate position in Schedule 13

Insert:

Part 70—Amendments made by the Migration Amendment (Investor Retirement Visa) Regulations 2018

  

7001  Operation of Schedule 1

                   The amendment of these Regulations made by Schedule 1 to the Migration Amendment (Investor Retirement Visa) Regulations 2018 applies in relation to a visa application made on or after 1 June 2018.