OCCUPATIONAL SUPERANNUATION STANDARDS REGULATIONS 1987 (REPEALED)

PART II - SUPERANNUATION FUNDS  

Division 1 - General  

REGULATION 18BA   STANDARDS: PROHIBITION ON GIVING FINANCIAL ASSISTANCE TO MEMBERS OR THEIR RELATIVES  

18BA(1)   [ Prescribed standard ]  

For the purposes of subsection 7(1) of the Act, the standard in subregulation (2) is prescribed.

18BA(2)   [ Prohibition re financial assistance ]  

A superannuation fund must not give any financial assistance (other than lending) using resources of the fund to:

(a) a member of the fund; or

(b) a relative of a member of the fund.

18BA(3)   [ " relative " ]  

In this regulation:

relative
has the same meaning as in the Income Tax Assessment Act 1936 .