Superannuation Industry (Supervision) Amendment Regulations 2007 (No. 1) (74 of 2007)

Schedule 3   Amendments commencing on 1 July 2007

[62]   After subregulation 6.31 (2)

insert

Illiquid investment

(3) An investment is an illiquid investment in relation to a member’s interest in a superannuation fund if it is of a nature that produces either of the following outcomes:

(a) it cannot be converted to cash in less than the time required to rollover or transfer a withdrawal benefit under subregulation 6.34 (5);

(b) converting it to cash within the time period specified in subregulation 6.34 (5) would be likely to have a significant adverse impact on the realisable value of the investment.