Commonwealth Consolidated Regulations Commonwealth Consolidated Regulations(1) In this regulation, 'fund' means a superannuation fund:
(a) that is not a defined benefit superannuation fund; and
(b) whose benefits are not guaranteed by the Commonwealth or by a State or Territory.
(2) For the purposes of subsection 7 (1) of the Act, the standard in subregulation (3) is prescribed in relation to the vesting in members of funds benefits that arise directly or indirectly from amounts contributed to the funds.
(3) The rate of increase of benefits vested in a member of a fund must not be such that, if the fund were to be terminated immediately after the vesting of those benefits, the assets of the fund would be insufficient to pay the minimum requisite benefit in respect of the other members of the fund.
Note minimum requisite benefit is defined in subregulation 3 (1).