Superannuation Legislation Amendment (Further MySuper and Transparency Measures) Act 2012 (171 of 2012)

Schedule 7   Eligible rollover funds

Part 1   Main amendments

Superannuation Industry (Supervision) Act 1993

2   Subsection 10(1) (definition of enhanced director obligations )

Repeal the definition, substitute:

enhanced director obligations means:

(a) for MySuper products - the obligations imposed by:

(i) section 29VO; and

(ii) covenants prescribed under section 54A that are specified in the regulations as forming part of the enhanced director obligations for MySuper products; and

(b) for eligible rollover funds - the obligations imposed by:

(i) section 242L; and

(ii) covenants prescribed under section 54A that are specified in the regulations as forming part of the enhanced director obligations for eligible rollover funds.