Definitions
23 Definitions
In this Part—
complying superannuation fund means a superannuation entity or a superannuation fund within the meaning of section 10 of the Superannuation Industry (Supervision) Act 1993 of the Commonwealth which is a complying superannuation fund or a complying approved deposit fund within the meaning of the Income Tax Assessment Act 1936 of the Commonwealth;
former Board instrument means an instrument (including a legislative instrument other than this Act and the former Act and regulations under that Act) or an oral agreement subsisting immediately before the appropriate relevant date—
to which the former Board was a party; or
that was given to or in favour of the former Board; or
that refers to the former Board; or
under which—
money is, or may become, payable to or by the former Board; or
other property is to be, or may become liable to be, transferred to or by the former Board;
former Board property means property, rights or liabilities of the former Board that, under this Part, have vested in, or become liabilities of, the trustee or the State;
liabilities means all liabilities, duties and obligations, whether actual, contingent or prospective;
property means any legal or equitable estate or interest (whether present or future and whether vested or contingent) in real or personal property of any description;
relevant date—
in relation to property, rights or liabilities of the former Board that are transferred to the trustee under Division 2, means the commencement day;
in relation to an allocation statement under Division 3 or property, rights or liabilities allocated under such a statement, means the date fixed by the Minister under subsection (2) for the purposes of that statement;
rights means all rights, powers, privileges and immunities, whether actual, contingent or prospective;
transferee, in relation to former Board property, means the trustee or the State, as the case requires, to which the property has been transferred under this Part.
The Minister may, by notice published in the Government Gazette, fix a date before the commencement day as the relevant date for the purposes of an allocation statement under Division 3.
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