SUPERANNUATION INDUSTRY (SUPERVISION) ACT 1993

PART 1 - PRELIMINARY  

Division 2 - Interpretation  

SECTION 16   DEFINITIONS ASSOCIATED WITH EMPLOYER-SPONSORSHIP  

16(1)   Employer-sponsor.  

An employer-sponsor of a regulated superannuation fund is an employer who:


(a) contributes to the fund; or


(b) would, apart from a temporary cessation of contributions, contribute to the fund;

for the benefit of:


(c) a member of the fund who is an employee of:


(i) the employer; or

(ii) an associate of the employer; or


(d) the dependants of such a member in the event of the death of the member.

16(2)   Standard employer-sponsor.  

If an employer so contributes, or would contribute, wholly or partly pursuant to an arrangement between the employer and a trustee of the regulated superannuation fund concerned, the employer is a standard employer-sponsor of the fund (as well as being an employer-sponsor of the fund). If the employer only so contributes, or would contribute, pursuant to arrangements between the employer and a member or members of the fund, the employer is not a standard employer-sponsor.

16(3)   Employer-sponsored fund.  

An employer-sponsored fund is a regulated superannuation fund that has at least one employer-sponsor.

16(4)   Standard employer-sponsored fund.  

If a regulated superannuation fund has at least one standard employer-sponsor, the fund is a standard employer-sponsored fund (as well as being an employer-sponsored fund).

16(5)   Standard employer-sponsored member.  

A standard employer-sponsored member is a member of a regulated superannuation fund in respect of whom an employer-sponsor contributes, or would contribute, as mentioned in subsection (1) wholly or partly pursuant to an arrangement between the employer-sponsor and a trustee of the fund.


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