Superannuation Industry (Supervision) Regulations 1994

PART 13 - MISCELLANEOUS

Division 13.3 - Various prescribed matters

REGULATION 13.18A CONDITIONAL OFFER OF GOODS OR SERVICES - EXEMPTIONS

13.18A(1)
For subsections 68A(2) and (4) of the Act, the following kinds of goods and services are prescribed:

(a) the supply of a business loan to a person by a trustee, or an associate of a trustee, of a regulated superannuation fund, that is supplied:

(i) on condition that the person be a member of the fund; and

(ii) on a commercial arm ' s length basis;

(b) a service that is supplied by a trustee, or an associate of a trustee, of a regulated superannuation fund to a person for the forwarding of superannuation contributions and information:

(i) to other funds or RSAs; and

(ii) on behalf of the person; and

(iii) in relation to employees of the person who have chosen those funds;

(c)

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an advice or administration service that relates to the payment of superannuation contributions to a regulated superannuation fund, that is supplied by a trustee, or an associate of a trustee, of the fund to:

(i) a person; or

(ii) the employees of the person.

(d) (Repealed by FRLI No F2021L01076)

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History

Reg 13.18A(1) amended by FRLI No F2021L01076, reg 4 and Sch 2 items 1 and 2, by substituting " the person. " for " the person; " in para (c)(ii) and repealing para (d), applicable where any of the following occur on or after 6 August 2021: (a) a trustee of a regulated superannuation fund, or an associate of a trustee of a regulated superannuation fund: (i) supplies, or offers to supply, goods or services to a person, or a relative or associate of a person; or (ii) supplies, or offers to supply, goods or services to a person, or a relative or associate of a person, at a particular price; or (iii) gives or allows, or offers to give or allow, a discount, allowance, rebate or credit in relation to the supply, or the proposed supply, of goods or services to a person, or a relative or associate of a person; (b) a trustee of a regulated superannuation fund, or an associate of a trustee of a regulated superannuation fund, refuses to: (i) supply, or offer to supply, goods or services to a person, or a relative or associate of a person; or (ii) supply, or offer to supply, goods or services to a person, or a relative or associate of a person, at a particular price; or (iii) give or allow, or offer to give or allow, a discount, allowance, rebate or credit in relation to the supply, or the proposed supply, of goods or services to a person, or a relative or associate of a person. Para (d) formerly read:

(d) the supply or offer to supply goods or services to a person by a trustee, or an associate of a trustee, of a regulated superannuation fund, only if:

(i) the supply or offer is available to the employees of the person who are members of the fund; and

(ii) the terms of the supply or offer to each employee are not less than the terms supplied or offered to the person.

13.18A(2)
Paragraph (1)(a) does not apply to the supply of a business loan that is supplied on the condition that a person other than the person receiving the loan be a member of the regulated superannuation fund.

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