Requirements for reopening determination—subsection 60F(4) of Act
9AB.20 Requirements for reopening determination—subsection 60F(4) of Act
For the purposes of subsection 60F(4) of the Act, this regulation specifies a requirement in relation to a Part 6A product and an entity.
Subsections 60F(3) and (4) of the Act provide that if APRA is satisfied that this requirement is met, it may make a determination that has the effect that each trustee of the entity is released from the obligation in subsection 60F(2) of the Act (to ensure that there are no new beneficiaries for the Part 6A product).
The requirement is that the performance measure for the Part 6A product for the most recently ended financial year equals or exceeds ‑0.005.
This Act’s bill:Explanatory statement
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