Superannuation Industry (Supervision) Regulations 1994

This regulation applies to an asset of a superannuation fund that:

is an investment in a company or unit trust; and

was acquired by the fund before the commencement of this Division; and

is not affected by subregulation 13.22D(3).

For subparagraph 71(1)(j)(ii) of the Act, the asset is not an in‑house asset of the superannuation fund if, when this Division commences:

the superannuation fund has fewer than 5 members; and

the company, or a trustee of the unit trust, is not a party to a lease with a related party of the superannuation fund, unless the lease relates to business real property; and

the company, or a trustee of the unit trust, is not a party to a lease arrangement with a related party of the superannuation fund, unless the lease arrangement:

is legally binding; and

relates to business real property; and

the company, or a trustee of the unit trust, is not a party to a lease, or lease arrangement, with another party in relation to an asset that is the subject of another lease or lease arrangement between any party and a related party of the superannuation fund (unless the asset is business real property); and

the company, or a trustee of the unit trust, does not have outstanding borrowings; and

the assets of the company or unit trust do not include:

an interest in another entity; or

a loan to another entity, unless the loan is a deposit with an authorised deposit‑taking institution within the meaning of the Banking Act 1959; or

an asset over, or in relation to, which there is a charge; or

an asset that was acquired from a related party of the superannuation fund after 11 August 1999, unless the asset was business real property acquired at market value; or

an asset that had been, at any time (unless it was business real property acquired by the company, or a trustee of the unit trust, at market value) in the period from the end of 11 August 1999 to the commencement of this Division, an asset of a related party of the superannuation fund.

In subparagraphs (2)(f)(iv) and (v):

money; or

in relation to a company, a share in the company.