OCCUPATIONAL SUPERANNUATION STANDARDS REGULATIONS 1987 (REPEALED)

PART IIIA - POOLED SUPERANNUATION TRUSTS  

REGULATION 23F  

23F   ELIGIBLE INVESTORS: TRUSTEES OF SUPERANNUATION FUNDS, APPROVED DEPOSIT FUNDS OR POOLED SUPERANNUATION TRUSTS: FIRST AND SECOND YEAR OF INCOME  
A trustee of a superannuation fund, an approved deposit fund or a pooled superannuation trust and a person acting on behalf of such a trustee is not eligible, for the purposes of an eligible investor statement, to hold units in a pooled superannuation trust:

(a) where the statement is made during the first year of income of the fund or first-mentioned trust - unless the trustee proposes to take during the second year of income of that fund or trust the action that is required to be taken under section 12, 13, 14, 15, 15B or 15C of the Act, as the case requires, to obtain a notice of compliance in relation to the first year of income; and

(b) where the statement is made during the second year of income of the fund or first-mentioned trust - unless:

(i) the trustee has been given a notice of compliance in relation to the first year of income of that fund or trust; or

(ii) where the trustee has not been given a notice of compliance or a notice of non-compliance in relation to the first year of income of that fund or trust - the trustee proposes to take during the second year of income of that fund or trust the action that is required to be taken under section 12, 13, 14, 15, 15B or 15C of the Act, as the case requires, to obtain a notice of compliance in relation to the first year of income.