Taxation Laws Amendment Act (No. 2) 1995 (169 of 1995)
Schedule 6 SUPERANNUATION INDUSTRY (SUPERVISION) ACT 1993
Part 3 TRUSTEES AND CUSTODIANS OF SUPERANNUATION ENTITIES
11 After subsection 26(1)
"(1A) For the purposes of subparagraph (1)(b)(iia), the applicant
passes the test set out in this subsection if:
(a) the applicant is entitled to the benefit of an approved
guarantee, being a guarantee in respect of the applicant's duties as
trustee of each relevant entity of which the applicant is, or is
proposing to become, the trustee; and
(b) the sum of the amount of the approved guarantee and the value of
the net tangible assets of the applicant is not less than the amount
prescribed by the regulations;".
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