Document ID: chunk:federal_register_of_legislation:C2015C00050:clause:1_26
Version: federal_register_of_legislation:C2015C00050
Segment Type: clause
Provision Reference: sch 1 cl 26
Character Range: 31114–32000

26  Subsections 120(2) to (7)
Repeal the subsections, substitute:
 (2) Treat the reference in paragraph 52(2)(b) of the Superannuation Industry (Supervision) Act 1993 to a "prudent superannuation trustee" as a reference to a prudent FHSA provider.
 (3) After subparagraph 52(6)(a)(vii) of the Superannuation Industry (Supervision) Act 1993, insert the following subparagraph:
 (viia) if the trustee holds an authorisation as an FHSA provider—the risk of capital losses in light of the purpose of the FHSA and the minimum term of the FHSA having regard to subparagraph 32(1)(c)(i) or (ii) of the First Home Saver Accounts Act 2008;
 (4) Treat the reference in paragraph 52A(2)(b) of the Superannuation Industry (Supervision) Act 1993 to a "prudent superannuation entity director" as a reference to a prudent director of an FHSA provider.

Superannuation Industry (Supervision) Act 1993