Superannuation Legislation Amendment (MySuper Core Provisions) Act 2012 (162 of 2012)

Schedule 1   MySuper

Part 1   Amendments

Superannuation Industry (Supervision) Act 1993

8   After subsection 29E(6)

Insert:

RSE licensees authorised to offer MySuper products

(6A) The following additional conditions are imposed on each RSE licensee that is authorised to offer a class of beneficial interest in a regulated superannuation fund as a MySuper product:

(a) the RSE licensee must ensure that the governing rules of the fund are not varied so that section 29TC is no longer satisfied in relation to that class of interest;

(b) the RSE licensee must ensure that the governing rules of the fund relating to that class of interest are not contravened.