Superannuation Industry (Supervision) Act 1993
View history note
Hide history noteFor the purposes of this section:
(a) a standard employer-sponsor (the first employer-sponsor ) of a superannuation fund is an unrelated employer-sponsor of the fund if, and only if, there is no other standard employer-sponsor of the fund who is a Part 8 associate of the first employer-sponsor; and
(b) 2 or more standard employer-sponsors of a superannuation fund are related to each other if they are Part 8 associates.
For the purposes of this section:
(a) the class of the in-house assets of a fund that corresponds to a particular unrelated employer-sponsor is the class of in-house assets that consists of:
(i) loans to, investments in, or assets subject to leases or lease arrangements with, the employer-sponsor or a Part 8 associate of the employer-sponsor; or
(ii) loans to, investments in, or assets subject to leases or lease arrangements with, a standard employer-sponsored member of the fund, in respect of whom the employer-sponsor contributes to the fund, or a Part 8 associate of such a member; or
(iii) investments in a trust that is controlled by an entity referred to in subparagraph (i) or (ii); and
(b) the class of the in-house assets of a fund that corresponds to 2 or more employer-sponsors who are related to each other is the class of in-house assets that consists of:
(i) loans to, investments in, or assets subject to leases or lease arrangements with, any of them or a Part 8 associate of any of them; or
(ii) loans to, investments in, or assets subject to leases or lease arrangements with, a standard employer-sponsored member of the fund, in respect of whom any of them contributes to the fund, or a Part 8 associate of such a member; or
(iii) investments in a trust that is controlled by an entity referred to in subparagraph (i) or (ii).
Subsections (4) and (5) apply if:
(a) there are 2 or more unrelated employer-sponsors of a superannuation fund (whether or not there are also any employer-sponsors of the fund who are related to each other); or
(b) there are 2 or more employer-sponsors of a superannuation fund who are related to each other and there are also one or more unrelated employer-sponsors of the fund. 72(4) [In-house assets of fund as a whole]
This Part does not apply in relation to the fund in relation to the in-house assets of the fund as a whole.
72(5) [Corresponding classes of in-house assets]However, this Part applies in relation to the fund separately in relation to each of the corresponding classes of in-house assets of the fund.
This section does not apply to a self managed superannuation fund.
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