Superannuation Industry (Supervision) Act 1993

PART 8 - IN-HOUSE ASSET RULES APPLYING TO REGULATED SUPERANNUATION FUNDS  

Division 2 - Historical cost ratio of fund's in-house assets  

SECTION 77   PRIVATE SECTOR FUNDS ESTABLISHED BEFORE 12 MARCH 1985 - HISTORICAL COST RATIO FOR THE 1994-95 YEAR OF INCOME  

77(1)   [Application of section]  

This section applies to a regulated superannuation fund, if the fund is a private sector fund established before 12 March 1985.

77(2)   [Historical cost ratio]  

At all times during the fund's 1994-95 year of income when the fund was in existence, the historical cost ratio of the fund's in-house assets must not exceed whichever is the greater of the following percentages:

(a) whichever is the lesser of the following percentages:

(i) the percentage equal to the historical cost ratio of the fund's in-house assets as at the end of 11 March 1985;

(ii) 70%;

(b) 10%.

77(3)   [Section 72 to be ignored]  

Section 72 is to be ignored in working out the percentage mentioned in subparagraph (2)(a)(i).