Treasury Laws Amendment (Your Future, Your Super) Act 2021 (46 of 2021)

Schedule 3   Best financial interests duty

Part 1   Main amendments

Superannuation Industry (Supervision) Act 1993

11   After subsection 52(3)

Insert:

Payments to third parties must be in best financial interests of beneficiaries

(3A) To avoid doubt, the obligations of the trustee under paragraph (2)(c) apply in respect of payments to a third party by, or on behalf of, the entity.