Treasury Laws Amendment (Your Future, Your Super) Act 2021 (46 of 2021)
Schedule 2 Addressing underperformance in superannuation
Part 1 Main amendments
Superannuation Industry (Supervision) Act 1993
8 At the end of section 52
Covenants relating to regulated superannuation funds - failing annual performance assessments
(14) If the entity is a regulated superannuation fund (other than a regulated superannuation fund with fewer than 5 members), the covenants referred to in subsection (1) include the following covenants by each trustee of the entity:
(a) to comply with subsection 60E(2) (notifying beneficiaries);
(b) to comply with subsection 60F(2) (consequences of 2 consecutive fail assessments).
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