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SUPERANNUATION INDUSTRY (SUPERVISION) REGULATIONS 1994 - REG 9.27 Interpretation

SUPERANNUATION INDUSTRY (SUPERVISION) REGULATIONS 1994 - REG 9.27

Interpretation

    In this Division:

"accrued benefits" , in relation to a member of a defined benefit fund or a defined benefit sub - fund:

  (a)   means the benefits to which the member has an absolute or potential entitlement at the valuation date on account of the length of time the member has been a member of the fund or sub - fund; and

  (b)   includes any amount that would be payable out of the benefits mentioned in paragraph   (a) to the member's spouse or former spouse under a payment split.

"new fund" means:

  (a)   any defined benefit fund established on or after 1   July 1994; or

  (b)   any fund converted on or after 1   July 1994 to a defined benefit fund;

in respect of which no previous actuarial report has been made.

"valuation date" , in relation to a defined benefit fund or sub - fund, means the date on which an investigation required under regulation   9.29 or 9.29A was carried out in relation to the fund or sub - fund.

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