Taxation Laws Amendment Act (No. 2) 1995 (169 of 1995)

Schedule 6 SUPERANNUATION INDUSTRY (SUPERVISION) ACT 1993

Insert:

"(1A) For the purposes of subparagraph (1)(b)(iia), the applicant

passes the test set out in this subsection if:

(a) the applicant is entitled to the benefit of an approved

guarantee, being a guarantee in respect of the applicant's duties as

trustee of each relevant entity of which the applicant is, or is

proposing to become, the trustee; and

(b) the sum of the amount of the approved guarantee and the value of

the net tangible assets of the applicant is not less than the amount

prescribed by the regulations;".