Superannuation Legislation Amendment Act 1999 (38 of 1999)

Schedule 2   Amendment of the Superannuation Industry (Supervision) Act 1993

Part 4   Amendment commencing on 1 July 1999

45   After section 69

Insert:

69A Sub-funds to be treated as funds

A sub-fund within a regulated superannuation fund is taken for the purposes of this Part to be a regulated superannuation fund if the sub-fund satisfies the following conditions:

(a) the sub-fund has separately identifiable assets and separately identifiable beneficiaries; and

(b) the interest of each beneficiary of the sub-fund is determined by reference only to the conditions governing that sub-fund.