Superannuation Industry (Supervision) Amendment Regulations 1999 (No. 6)

(356 of 1999)

15 December 1999

Made under Superannuation Industry (Supervision) Act 1993

1   Name of Regulations

These Regulations are the Superannuation Industry (Supervision) Amendment Regulations 1999 (No. 6).

2   Commencement

These Regulations commence on gazettal.

3   Amendment of Superannuation Industry (Supervision) Regulations 1994

Schedule 1 amends the Superannuation Industry (Supervision) Regulations 1994.

Schedule 1   Amendment

[1]   After regulation 1.04

insert

1.04AA Self managed superannuation funds - persons not taken to be employees
(Act s 17A (8))

(1) For the purposes of paragraph 17A (8) (b) of the Act, a class of persons is a specified class if it comprises persons each of whom is, in relation to a member of a superannuation fund, an exempt person.

(2) A person is an exempt person in relation to a member of a superannuation fund if:

(a) the person is an employer-sponsor of the fund; and

(b) the member is a director of the employer-sponsor.