S 355 repealed by No 154 of 2007, s 3 and Sch 1 item 155, effective 24 September 2007. S 355 formerly read:
SECTION 355 ENTITY TO WHICH DIVISION APPLIES
355(1)
This Division applies to a fund or trust in relation to which the conditions specified in subsection (2):
(a)
are satisfied on the commencement of this Part; or
(b)
become satisfied after that commencement and before 1 July 1994.
355(2)
These are the conditions:
(a)
the fund or trust is:
(i)
a complying superannuation fund within the meaning of the Income Tax Assessment Act; or
(ii)
an approved deposit fund within the meaning of the
Occupational Superannuation Standards Act 1987
; or
(iii)
a pooled superannuation trust within the meaning of the
Occupational Superannuation Standards Act 1987
;
(b)
interests in the fund or trust are prescribed interests, within the meaning of the Corporations Law of a State or internal Territory, to which Division 5 of Part 7.12 of that Law applies;
(c)
there is a trustee of the fund or trust;
(d)
there is a management company, within the meaning of the Corporations Law referred to in paragraph (b), in relation to the prescribed interests referred to in that paragraph;
(e)
the trustee and the management company are constitutional corporations.
History
S 355(2) amended by No 15 of 2007, s 3 and Sch 1 item 364, by omitting
"
Part IX of
"
after
"
within the meaning of
"
in para (a)(i), applicable to the 2007-2008 income year and later years.
355(3)
For the purposes of the application of this Division in relation to the fund or trust, the fund or trust is called the
Part 31 entity
.
355(4)
The fact that the fund or trust is the Part 31 entity for the purposes of the application of this Division in relation to it does not prevent another fund or trust from being the Part 31 entity for the purposes of the application of this Division in relation to the other fund or trust.
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