Document ID: chunk:federal_register_of_legislation:F2024L00653:body:0:p32
Version: federal_register_of_legislation:F2024L00653
Segment Type: other
Provision Reference: 
Character Range: 134146–137886

to pay member benefits. This is assets less reserves less liabilities excluding members' benefits.
Member Campaigns (expense type)                                   Means the expense incurred for the provision of member campaigns.
Member Communication (expense type)                               Means the expense incurred for the systems and processes involved in distributing communications to members.
Member Education (expense type)                                   Means the expense incurred for the provision of member education, including member communications for the purpose of member education.
Member Services (expense group)                                   Means the expense incurred for the provision of any member services of entities.
Member Wrap Platform (expense type)                               Means the expense incurred for the provision of wrap platform services.
Members' benefit bracket                                          Means a segmentation of data based on the liability for members' benefits owing to defined contribution members and defined benefit members. Excludes: unallocated contributions.
Members' benefits                                                 Means the value of liability for members' benefits for a member account and is the sum of defined contribution members' benefits and defined benefit members' benefits. This represents the present obligation to beneficiaries for benefits they are entitled to receive in the future as a result of membership of the RSE, defined benefit RSE or ERF.
Memberships (expense type)                                        Means the expense incurred for memberships not otherwise categorised.
                                                                  Includes: professional association membership, industry association membership
Merger Implementation (expense type)                              Means the expense incurred in relation to the implementation of a merger between to RSEs not otherwise categorised.
Merger Investigation (expense type)                               Means the expense incurred relating to identifying potential merger partners and developing strategy.
Minimum balance                                                   Means a restriction placed on investment forcing the member to hold at least a specific balance in an investment option, investment menu, or superannuation product to which the minimum applies.
Minimum charge ($)                                                Means the lowest value of the dollar reduction in a member's balance that will be incurred by a member when applying a fee or cost expressed as a percentage value (% of balance) or percentage value (% of transaction).
Minimum charge (%)                                                Means the lowest value of the percentage reduction in a member's balance that will be incurred by a member when applying a fee or cost expressed as a flat dollar amount.
Minimum purchase transaction                                      Means the minimum additional balance that a member is permitted to contribute to an investment option.
Modified duration                                                 Means the price sensitivity of the investments in respect to changes in interest rates.
More Cover Than Default No Underwriting (current level of cover)  Means that, as at the reporting date, the member has more than the Default Level Of Cover and did not require underwriting in order to obtain that cover.
Most proximate investment                                         Means the closest investment, in the relevant chain of investments, to the ultimate investment.

Motor Vehicles (expense type)                                     Means the