SUPERANNUATION INDUSTRY (SUPERVISION) ACT 1993 - SECT 72 How this Part applies if there are 2 or more employer - sponsors of whom at least one is an unrelated employer - sponsor

SUPERANNUATION INDUSTRY (SUPERVISION) ACT 1993 - SECT 72

  (1)   For the purposes of this section:

  (a)   a standard employer - sponsor (the first employer - sponsor ) of a superannuation fund is an unrelated employer - sponsor of the fund if, and only if, there is no other standard employer - sponsor of the fund who is a Part   8 associate of the first employer - sponsor; and

  (b)   2 or more standard employer - sponsors of a superannuation fund are related to each other if they are Part   8 associates.

  (2)   For the purposes of this section:

  (a)   the class of the in - house assets of a fund that corresponds to a particular unrelated employer - sponsor is the class of in - house assets that consists of:

  (i)   loans to, investments in, or assets subject to leases or lease arrangements with, the employer - sponsor or a Part   8 associate of the employer - sponsor; or

  (ii)   loans to, investments in, or assets subject to leases or lease arrangements with, a standard employer - sponsored member of the fund, in respect of whom the employer - sponsor contributes to the fund, or a Part   8 associate of such a member; or

  (iii)   investments in a trust that is controlled by an entity referred to in subparagraph   (i) or (ii); and

  (b)   the class of the in - house assets of a fund that corresponds to 2 or more employer - sponsors who are related to each other is the class of in - house assets that consists of:

  (i)   loans to, investments in, or assets subject to leases or lease arrangements with, any of them or a Part   8 associate of any of them; or

  (ii)   loans to, investments in, or assets subject to leases or lease arrangements with, a standard employer - sponsored member of the fund, in respect of whom any of them contributes to the fund, or a Part   8 associate of such a member; or

  (iii)   investments in a trust that is controlled by an entity referred to in subparagraph   (i) or (ii).

  (3)   Subsections   (4) and (5) apply if:

  (a)   there are 2 or more unrelated employer - sponsors of a superannuation fund (whether or not there are also any employer - sponsors of the fund who are related to each other); or

  (b)   there are 2 or more employer - sponsors of a superannuation fund who are related to each other and there are also one or more unrelated employer - sponsors of the fund.

  (4)   This Part does not apply in relation to the fund in relation to the in - house assets of the fund as a whole.

  (5)   However, this Part applies in relation to the fund separately in relation to each of the corresponding classes of in - house assets of the fund.

  (6)   This section does not apply to a self managed superannuation fund.