SUPERANNUATION INDUSTRY (SUPERVISION) ACT 1993

PART 2C - MYSUPER  

Division 3 - Authority  

SECTION 29TA   29TA   PRODUCT IN ANOTHER FUND IN WHICH THERE IS ALREADY MATERIAL GOODWILL  


This section is satisfied in relation to a class of beneficial interest in a regulated superannuation fund (the proposed MySuper product ) if:


(a) the benefits of members and beneficiaries in another regulated superannuation fund (the original fund ) are to be transferred to the fund; and


(b) APRA is satisfied that:


(i) some or all of the persons whose benefits are to be transferred hold a class of interest in the original fund that is similar to the proposed MySuper product; and

(ii) there is material goodwill in that class of interest in the original fund; and

(iii) that goodwill could not be maintained unless the RSE licensee were authorised to offer the proposed MySuper product as an additional MySuper product in the fund; and

(iv) it would be in the best interests of the members of the fund, and those persons whose benefits are to be transferred to the fund, to maintain the distinction between the proposed MySuper product and other MySuper products within the fund.



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