Commonwealth Numbered Acts

SUPERANNUATION INDUSTRY (SUPERVISION) ACT 1993 No. 78, 1993 - SECT 3

3.(1) The object of this Act is to make provision for the prudent management
of certain superannuation funds, approved deposit funds and pooled
superannuation trusts and for their supervision by the Insurance and
Superannuation Commissioner. Basis for supervision

(2) The basis for supervision is that those funds and trusts are subject to
regulation under the Commonwealth's powers with respect to corporations or
pensions (for example, because the trustee is a corporation). In return, the
supervised funds and trusts may become eligible for concessional taxation
treatment. Whole industry not covered

(3) The Act does not regulate other entities engaged in the superannuation
industry.