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SUPERANNUATION INDUSTRY (SUPERVISION) ACT 1993

PART 8 - IN-HOUSE ASSET RULES APPLYING TO REGULATED SUPERANNUATION FUNDS  

Division 1 - Object and interpretation  

Subdivision B - Part 8 associates    View history reference

SECTION 70B  

70B  PART 8 ASSOCIATES OF INDIVIDUALS  

 View history reference
For the purposes of this Part, each of the following is a Part 8 associate of an individual (the primary entity), whether or not the primary entity is in the capacity of trustee:


(a) a relative of the primary entity;


(b) if the primary entity is a member of a superannuation fund with fewer than 5 members:


(i) each other member of the fund; and

(ii) if the fund is a single member self managed superannuation fund whose trustee is a company - each director of that company; and

(iii) if the fund is a single member self managed superannuation fund whose trustees are individuals - those individuals;


(c) a partner of the primary entity or a partnership in which the primary entity is a partner;


(d) if a partner of the primary entity is an individual - the spouse or a child of that individual;


(e) a trustee of a trust (in the capacity of trustee of that trust), where the primary entity controls the trust;


(f) a company that is sufficiently influenced by, or in which a majority voting interest is held by:


(i) the primary entity; or

(ii) another entity that is a Part 8 associate of the primary entity because of another paragraph of this section or because of another application of this paragraph; or

(iii) 2 or more entities covered by the preceding subparagraphs.


 



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