Commonwealth Consolidated Regulations Commonwealth Consolidated Regulations(1) For the purposes of paragraph 17A (8) (b) of the Act, a class of persons is a specified class if it comprises persons each of whom is, in relation to a member of a superannuation fund, an exempt person mentioned in subregulation (2).
(2) A person is an exempt person in relation to a member of a superannuation fund if:
(a) the person is an employer‑sponsor of the fund; and
(b) the member is a director of the employer‑sponsor.
(3) For the purposes of paragraph 17A (8) (b) of the Act, a class of persons is a specified class if it comprises persons each of whom is a member of a superannuation fund in relation to which the following circumstances exist:
(a) the person is the employer, but not a relative, of a member of the fund (the employee );
(b) another member is the employer, and a relative, of that employee.