Document ID: chunk:federal_register_of_legislation:C2013C00579:clause:5_4
Version: federal_register_of_legislation:C2013C00579
Segment Type: clause
Provision Reference: sch 5 cl 4
Character Range: 33705–34758

4  Subsections 58PB(2) and (3)
Repeal the subsections, substitute:

Endorsed funds
 (2) A fund is also an approved worker entitlement fund if:
 (a) the fund is endorsed as an approved worker entitlement fund under subsection (3); or
 (b) the entity that operates the fund is endorsed for the operation of the fund under subsection (3A).
 (3) The Commissioner must endorse a fund as an approved worker entitlement fund if:
 (a) the fund is entitled to be endorsed as an approved worker entitlement fund (see subsection (4)); and
 (b) the fund has applied for the endorsement in accordance with Division 426 in Schedule 1 to the Taxation Administration Act 1953.
 (3A) The Commissioner must endorse an entity for the operation of a fund as an approved worker entitlement fund if:
 (a) the entity is entitled to be endorsed for the operation of the fund as an approved worker entitlement fund (see subsection (4A)); and
 (b) the entity has applied for the endorsement in accordance with Division 426 in Schedule 1 to the Taxation Administration Act 1953.