INCOME TAX ASSESSMENT REGULATIONS 1997

PART 2A - SPECIALIST LIABILITY RULES  

Division 292 - Excess non-concessional contributions  

Subdivision 292-D - Modifications for defined benefit interests  

REGULATION 292-170.01   292-170.01   DEFINITIONS  


In this Subdivision:

employer-sponsor
has the meaning given by subsection 16(1) of the SIS Act.

RSE licensee
has the same meaning as in the SIS Act.

sub-fund
, in relation to a defined benefit member of a superannuation fund, means an arrangement in the fund which satisfies the following conditions:


(a) there are separately identifiable assets and separately identifiable beneficiaries;


(b) the interest of each beneficiary is determined by reference only to the conditions governing that arrangement;


(c) all defined benefit members have the same employer-sponsor;


(d) the employer-sponsor deals with each of the defined benefit members at arm ' s length.

superannuation fund
includes a reference to a sub-fund relating to a defined benefit member or defined benefit members of the fund.




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