Superannuation Legislation Amendment Act (No. 4) 1999 (199 of 1999)

Schedule 1  

28   At the end of subsection 71(1)

Add:

; or (g) if the superannuation fund has fewer than 5 members - real property subject to a lease, or to a lease arrangement enforceable by legal proceedings, between the trustee of the fund and a related party of the fund, if, throughout the term of the lease or lease arrangement, the property is business real property of the fund (within the meaning of subsection 66(5)); or

(h) an investment in a widely held unit trust; or

(i) property owned by the superannuation fund and a related party as tenants in common, other than property subject to a lease or lease arrangement between the trustee of the fund and a related party; or

(j) an asset included in a class of assets specified in the regulations:

(i) not to be in-house assets of any fund; or

(ii) not to be in-house assets of a class of funds to which the fund belongs.

For this purpose, a class of assets may consist of, but is not limited to, assets that are investments in entities that undertake, or do not undertake, specified activities.