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

Schedule 6   SUPERANNUATION INDUSTRY (SUPERVISION) ACT 1993

Part 3   TRUSTEES AND CUSTODIANS OF SUPERANNUATION ENTITIES

16   After subsection 123(1)

Insert:

"(1A) For the purposes of subparagraph (1)(b)(iii), the following

conditions are specified:

(a) the trustee of the entity is entitled to the benefit, in respect

of the due performance of the body corporate's duties as custodian of

the entity, of an approved guarantee;

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

the net tangible assets of the body corporate is not less than the

amount prescribed by the regulations.".