(a) ceasing to be a
member of, or otherwise ceasing to be entitled to benefits in respect of, a
superannuation fund that is a complying superannuation fund or was a
complying superannuation fund within the period of 12 months before the
acquisition was made, and
(b) becoming a member of, or otherwise becoming
entitled to benefits in respect of, another superannuation fund that is also a
complying superannuation fund or will, in the opinion of the trustees of both
funds concerned, be a complying superannuation fund within 12 months after the
acquisition is made.
(2) For the purposes of this section, each of the
following is a
"relevant transfer" --
(a) a transfer of property from a trustee of a
superannuation fund, or a custodian of the trustee, to the trustee of another
superannuation fund, or to a custodian of the trustee of another
superannuation fund,
(b) a transfer of property from a trustee of a
superannuation fund to a custodian of the trustee, or from a custodian of the
trustee of a superannuation fund to the trustee,
(c) a transfer of a share or
a unit in a unit trust scheme from the trustee of a pooled superannuation
trust, made in exchange for a redemption of units in the trust, to the trustee
of a superannuation fund, or a custodian of the trustee of a superannuation
fund,
(d) a transfer of a share or a unit in a unit trust scheme from the
trustee of a superannuation fund, or a custodian of the trustee of a
superannuation fund, made in exchange for the issue of units in a pooled
superannuation trust, to a trustee of the pooled superannuation trust,
(e) a
transfer of a share or a unit in a unit trust scheme from a life company or
custodian for a life company to the trustee of a superannuation fund or a
custodian of the trustee of a superannuation fund if the transfer is made in
consideration of the surrender or termination, by the trustee of the
superannuation fund of which the person has ceased to be a member, of a policy
of life insurance issued by the life company,
(f) a transfer of a share or a
unit in a unit trust scheme from the trustee of a superannuation fund or a
custodian of the trustee of a superannuation fund to a life company or
custodian for a life company if the transfer is made in consideration of the
issue, by the life company, of a policy of life insurance to the trustee of
the superannuation fund of which the person has become a member.
(3) The duty
chargeable under this Chapter on a relevant acquisition to which this section
applies is $750.
(4) In this section,
"complying superannuation fund" includes a complying approved deposit fund and
an eligible rollover fund.