Document ID: chunk:federal_register_of_legislation:C2004C01337:clause:1_42a:p3
Version: federal_register_of_legislation:C2004C01337
Segment Type: clause
Provision Reference: sch 1 cl 42A (pt 3/4)
Character Range: 24544–27164

are not complied with:
 (i) the requirements of subsections 19(2) to (4) (to the extent that they have not already been complied with) are complied with within 28 days after the trustee finds out (whether by written notice from APRA or otherwise) that they were not complied with, or within such further period, if any, as APRA (whether before or after the end of the period of 28 days) allows; and
 (ii) except where the trustee received written notice from APRA about the non‑compliance—the trustee tells APRA in writing of the compliance within 7 days after the requirements are complied with or within such further period, if any, as APRA (whether before or after the end of the period of 7 days) allows; and
 (c) either of the following conditions is satisfied:
 (i) the trustee did not contravene this Act or the regulations in relation to the entity during the whole of the period (the rectification period) that began when the trustee of the entity lodged the purported election under subsection 19(4) and ended when the entity complied with subsections 19(2) to (4);
 (ii) the trustee contravened this Act or the regulations in relation to the entity during the rectification period on one or more occasions but the trustee satisfies the APRA that, because of special circumstances that existed in relation to the fund during the rectification period, it would be reasonable for the fund to be treated as if it had satisfied this Act and the regulations; and
 (d) if the fund was in existence before the beginning of its 1994‑95 year of income—under regulations made for the purposes of section 50, the fund is treated as if it had satisfied the transitional superannuation fund conditions at all times during the period that began at the beginning of the fund's 1994‑95 year of income and ended when the trustee of the entity lodged the purported election under subsection 19(4); and
 (e) the entity was a resident regulated superannuation fund at all times during the part of the year of income occurring after the end of the rectification period; and
 (f) in respect of the part of the year of income occurring after the end of the rectification period, both:
 (i) the entity passed the test in subsection (5) in respect of the part or parts of the year of income occurring after the end of the rectification period, during which the entity was a self managed superannuation fund; and
 (ii) if the trustee contravened this Act or the regulations in relation to the entity in respect of any other part or parts of the year of income occurring after the end of the rectification period, during which the entity