SUPERANNUATION INDUSTRY (SUPERVISION) ACT 1993 - SECT 44 Pooled superannuation trust

SUPERANNUATION INDUSTRY (SUPERVISION) ACT 1993 - SECT 44

    An entity is a pooled superannuation trust in relation to a year of income for the purposes of this Division if:

  (a)   at all times during the year of income when the entity was in existence, the entity was a pooled superannuation trust; and

  (b)   any of the following conditions is satisfied:

  (i)   the trustee did not contravene any of the regulatory provisions in relation to the entity in respect of the year of income;

  (ii)   both:

  (A)   the trustee contravened one or more of the regulatory provisions in relation to the entity in respect of the year of income on one or more occasions; and

  (B)   each contravention was rectified within a period of 30 days after the trustee became aware of the contravention or such further period as APRA allows;

  (iii)   both:

  (A)   the trustee contravened one or more of the regulatory provisions in relation to the entity in respect of the year of income on one or more occasions; and

  (B)   APRA is satisfied that the seriousness or frequency, or both, of the contraventions does not warrant the giving of a notice stating that the entity is not a pooled superannuation trust in relation to the year of income;

  (iv)   APRA, after considering all relevant circumstances, thinks that a notice should be given stating that the entity is a pooled superannuation trust in relation to the year of income.