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SUPERANNUATION INDUSTRY (SUPERVISION) ACT 1993 - SECT 79 Public sector funds established before 1 July 1990--historical cost ratio for the 1994 - 95 year of income

SUPERANNUATION INDUSTRY (SUPERVISION) ACT 1993 - SECT 79

Public sector funds established before 1 July 1990--historical cost ratio for the 1994 - 95 year of income

  (1)   This section applies to a regulated superannuation fund, if the fund is a public sector fund established before 1   July 1990.

  (2)   At all times during the fund's 1994 - 95 year of income when the fund was in existence, the historical cost ratio of the fund's in - house assets must not exceed whichever is the greater of the following percentages:

  (a)   the percentage equal to the historical cost ratio of the fund's in - house assets as at the end of 1   July 1990;

  (b)   10%.

  (3)   Section   72 is to be ignored in working out the percentage mentioned in paragraph   (2)(a).

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