Superannuation Industry (Supervision) Regulations 1994

PART 9AB - ANNUAL PERFORMANCE ASSESSMENTS ETC.  

Division 9AB.1 - Preliminary  

REGULATION 9AB.3   MEANING OF LIFECYCLE PART 6A PRODUCT  

9AB.3(1)    
A Part 6A product is a lifecycle Part 6A product if:

(a)    the investments supporting the Part 6A product are divided into categories; and

(b)    each such category of investments is referrable to a lifestage of the Part 6A product.

9AB.3(2)    
Subregulation (3) applies in relation to a Part 6A product in respect of a financial year (the current year ) if the Part 6A product was a lifecycle Part 6A product (disregarding paragraph (3)(a) ) at any time in the lookback period for the Part 6A product in respect of the current year.

9AB.3(3)    
For the purposes of applying this Part to the current year:

(a)    treat the Part 6A product as a lifecycle Part 6A product throughout that lookback period; and

(b)    treat the Part 6A product as having one lifestage in relation to each quarter that satisfies both of the following requirements:

(i) the quarter is in that lookback period;

(ii) the Part 6A product was not a lifecycle Part 6A product (disregarding paragraph (a) ) at the end of the previous quarter.

Note 1:

For the purposes of applying this Part to the current year, the Part 6A product will be in the class specified in subregulation 9AB.9(3) in relation to the current year.

Note 2:

For the purposes of applying this Part to the current year, the Part 6A product will have a lifestage weight of one in relation to each quarter in the lookback period and the lifestage mentioned in paragraph (b) .

9AB.3(4)    
Paragraph (3)(b) does not apply in relation to the quarter mentioned in subparagraph (3)(b)(i) if APRA has made a determination under subregulation 9AB.14(10) that:

(a)    specifies the Part 6A product; and

(b)    specifies the superannuation entity that offers the Part 6A product; and

(c)    specifies 2 quarters, the later of which is the quarter mentioned in subparagraph (3)(b)(i) of this regulation.

9AB.3(5)    

For the purposes of subparagraph (3)(b)(ii) , if the previous quarter is before the Part 6A product ' s initial quarter, treat the reference in that subparagraph to the previous quarter as being a reference to the initial quarter.