Superannuation Industry (Supervision) Amendment (Your Future, Your Super - Addressing Underperformance in Superannuation) Regulations 2023 (F2023L01063)

Schedule 1   Main amendments

Superannuation Industry (Supervision) Regulations 1994

9   Regulation 9AB.1

Insert:

RSE structure standard means:

(a) the Financial Sector (Collection of Data) (reporting standard) determination No. 43 of 2023; or

(b) the Financial Sector (Collection of Data) (reporting standard) determination No. 44 of 2023; or

(c) an analogous legislative instrument (whether or not the legislative instrument is in force).

standard fees and costs arrangement , of a Part 6A product in relation to a period, means the Part 6A product's standard fees and costs arrangement in relation to the period, as reported to APRA in accordance with the applicable investment performance standard and applicable RSE structure standard.

standard platform TDP means a platform TDP that is not a hybrid platform TDP.

transaction costs cap , of a Part 6A product in relation to a financial year, means the Part 6A product's fee cap (for the transaction costs type of fee) in relation to the end of the financial year, as reported to APRA in accordance with the applicable fees standard.

transaction costs flat amount , of a Part 6A product in relation to a financial year, means the Part 6A product's dollar amount (for the transaction costs type of fee) in relation to the end of the financial year, as reported to APRA in accordance with the applicable fees standard.

transaction costs percentage , of a Part 6A product in relation to a financial year, means the Part 6A product's percentage of member balance (for the transaction costs type of fee) in relation to the end of the financial year, as reported to APRA in accordance with the applicable fees standard.

trustee-directed product has the meaning given by regulation 9AB.2.