Superannuation Industry (Supervision) Amendment Regulations 2003 (No. 3) (171 of 2003)

Schedule 1   Amendments

[2]   After paragraph 1.05 (1) (c)

insert

(d) for a benefit that arises under a contract that meets the standards of subregulation (4) - the contract also meets the standards of regulation 1.07A; and

(e) for a benefit that arises under a contract that meets the standards of subregulation (2), (6), (7) or (9) - the contract also meets the standards of regulation 1.07B; and

(f) for a benefit that arises under a contract that meets the standards of subregulation (8):

(i) the benefit can be taken to consist of two benefits ( annuities ):

(A) an annuity that arises from that part of the contract that provides for payments whose size is not fixed; and

(B) an annuity that arises from that part of the contract that provides for payments whose size in a year is fixed; and

(ii) the contract meets the standards of regulation 1.07A in relation to the annuity mentioned in sub-subparagraph (i) (A); and

(iii) the contract meets the standards of regulation 1.07B in relation to the annuity mentioned in sub-subparagraph (i) (B).


Copyright notice

© Australian Taxation Office for the Commonwealth of Australia

You are free to copy, adapt, modify, transmit and distribute material on this website as you wish (but not in any way that suggests the ATO or the Commonwealth endorses you or any of your services or products).