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

3   Subsection 10(1) (definition of enhanced trustee obligations )

Repeal the definition, substitute:

enhanced trustee obligations means:

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

(i) covenants referred to in section 52, as enhanced by the obligations imposed under section 29VN; and

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

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

(i) covenants referred to in section 52, as enhanced by the obligations imposed under section 242K; and

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