Commonwealth Consolidated Regulations

LIFE INSURANCE REGULATIONS 1995 - REG 13.02

                For the purposes of paragraph (b) of the definition of superannuation policy in the Schedule to the Act, a life policy included in any of the following kinds of policies is declared to be a superannuation policy for the purposes of the Act:

                (a)    a policy of any of the following kinds that is maintained for the purposes of superannuation or retirement:

                          (i)    an immediate annuity policy;

                         (ii)    a deferred annuity policy;

                         (iii)    an allocated annuity policy;

               (b)    a policy that is owned by the trustee of a scheme, being a scheme that is:

                          (i)    an approved deposit fund; or

                         (ii)    a pooled superannuation trust;

                (c)    an RSA (within the meaning of the Retirement Savings Accounts Act 1997 ).