Tax and Superannuation Laws Amendment (2014 Measures No. 7) Act 2015 (21 of 2015)
Schedule 4 Providing certainty for superannuation fund mergers
Part 2 Other amendments
Income Tax Assessment Act 1997
17 Subsection 995-1(1) (definition of successor fund )
Repeal the definition, substitute:
successor fund , in relation to a transfer of a *superannuation interest of:
(a) a member of a *superannuation fund; or
(b) a depositor with an *approved deposit fund; or
(c) a holder of an *RSA;
means another superannuation fund, approved deposit fund or RSA if the following conditions are met:
(d) that other fund or RSA confers on that member, depositor or holder equivalent rights to the rights he or she had under the first-mentioned fund or RSA in respect of the interest;
(e) the conferral of these equivalent rights was agreed, before the transfer, between:
(i) the *superannuation provider of that other fund or RSA; and
(ii) the superannuation provider of the first-mentioned fund or RSA.