Superannuation Industry (Supervision) Regulations 1994
A sub-fund within a regulated superannuation fund is taken, for the purposes of this Division, 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;
(b) the interest of each beneficiary of the sub-fund is determined by reference only to the conditions governing that sub-fund.
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