Superannuation Industry (Supervision) Regulations 1994
For subsection 31(1) of the Act, it is a standard applicable to the operation of public offer superannuation funds that, except so far as permitted by subregulation (2), a trustee of a fund must not, in that capacity, invest in:
(a) the trustee itself; or
(b) a related body corporate.
(a) in the case of a life insurance policy - if the body corporate issuing the policy is a life insurance company; or
(b) in the case of a deposit - if the body corporate is an ADI; or
(c) in any other case - if:
(i) the related body corporate is an ADI or a life insurance company; and
(ii) the trustee of the fund complies with the rules set out in regulation 13.17AA .
[ CCH Note: SR No 193 of 1998, reg 47.2, provided for the substitution of " ADI or an approved non-ADI " for " approved bank or an approved non-bank " in reg 13.17A(2)(c)(i), effective 1 July 1998. This amendment was not effected as this phrase does not occur in para (c). For transitional provisions of SR No 199 of 1998 affecting the amendments made by SR No 193 of 1998, see history note under reg 1.04(2).]