Commonwealth Consolidated Regulations

INCOME TAX ASSESSMENT REGULATIONS 1997 - REG 292.170.01

                In this Subdivision:

employer-sponsor has the meaning given by subsection 16 (1) of the SIS Act.

RSE licensee has the same meaning as in the SIS Act.

sub‑fund , in relation to a defined benefit member of a superannuation fund , means an arrangement in the fund which satisfies the following conditions:

                (a)    there are separately identifiable assets and separately identifiable beneficiaries;

               (b)    the interest of each beneficiary is determined by reference only to the conditions governing that arrangement;

                (c)    all defined benefit members have the same employer‑ sponsor;

               (d)    the employer‑sponsor deals with each of the defined benefit members at arm's length.

superannuation fund includes a reference to a sub-fund relating to a defined benefit member or defined benefit members of the fund.