Superannuation Industry (Supervision) Act 1993

PART 5 - NOTICES ABOUT COMPLYING FUND STATUS  

Division 2 - The Regulator may give notices about complying fund status  

SECTION 44  

44   POOLED SUPERANNUATION TRUST  
An entity is a pooled superannuation trust in relation to a year of income for the purposes of this Division if:

(a) at all times during the year of income when the entity was in existence, the entity was a pooled superannuation trust; and

(b) any of the following conditions is satisfied:

(i) the trustee did not contravene any of the regulatory provisions in relation to the entity in respect of the year of income;

(ii) both:

(A) the trustee contravened one or more of the regulatory provisions in relation to the entity in respect of the year of income on one or more occasions; and

(B) each contravention was rectified within a period of 30 days after the trustee became aware of the contravention or such further period as APRA allows;

(iii) both:

(A) the trustee contravened one or more of the regulatory provisions in relation to the entity in respect of the year of income on one or more occasions; and

(B) APRA is satisfied that the seriousness or frequency, or both, of the contraventions does not warrant the giving of a notice stating that the entity is not a pooled superannuation trust in relation to the year of income;

(iv) APRA, after considering all relevant circumstances, thinks that a notice should be given stating that the entity is a pooled superannuation trust in relation to the year of income.