Document ID: chunk:federal_register_of_legislation:F2021C00160:body:0:p6
Version: federal_register_of_legislation:F2021C00160
Segment Type: other
Provision Reference: 
Character Range: 13717–16691

of:

                       (A) the income of or the property attributable to the product or option; or

                       (B) the income of or the property attributable to an interposed vehicle in or through which the property attributable to the product or option is invested; or
                   (ii) satisfies both the following:
                       (A) the amount is paid or payable by or on behalf of a person who may make payments that form part of the return on, or the value of, the product or option whether directly or through an interposed vehicle;

                       (B) payment of the amount is a benefit that increases the returns or value of the product or option or provides a benefit to the issuer in relation to the product or option that is retained by the issuer; and

                (b) for a MySuper product or an investment option offered within a superannuation product other than a MySuper product—is not charged to a member as a fee; and

                (c) for a MySuper product or an investment option offered within a superannuation product other than a MySuper product—is not any of the following:

                   (i) an activity fee, an advice fee, a buy-sell spread, an insurance fee or a switching fee; or

                   (ii) administration fees and costs, investment fees and costs or transaction costs, to the extent it has been paid as a cost out of the superannuation entity to which the product or option relates; and

                (d) subject to subclause (3), has been paid as a cost out of an interposed vehicle which:

                   (i) if the amount had been paid as a cost out of the superannuation entity to which the product or option relates—would be:

                       (A) a cost within the definition of administration fees and costs disregarding paragraphs (a), (b) and (c) of that definition; or

                       (B) a cost within the definition of investment fees and costs disregarding paragraphs (b) and (c) of that definition; or

                       (C) a cost within the meaning of transaction costs disregarding paragraphs (g) and (ga) of that definition;

                   (ii) if the amount had been paid as a cost out of scheme property of the registered scheme or the assets of the notified foreign passport fund to which the product or option relates—would be a cost within the definition of management fees and costs disregarding paragraph (1)(h).

            (2) For the purposes of subclause (1):

                (a) property is invested in or through an interposed vehicle even if:

                    (i) the property is in turn invested in or through one or more other interposed vehicles; or

                    (ii) the property was invested in the first mentioned interposed vehicle through or by another interposed vehicle; and

                (b) property is not invested in or through an interposed vehicle if the property is invested in the