Document ID: chunk:federal_register_of_legislation:C2025C00134:section:71:p1
Version: federal_register_of_legislation:C2025C00134
Segment Type: section
Provision Reference: s 71 (pt 1/4)
Character Range: 503028–505514

71  Meaning of in‑house asset

Basic meaning
 (1) For the purposes of this Part, an in‑house asset of a superannuation fund is an asset of the fund that is a loan to, or an investment in, a related party of the fund, an investment in a related trust of the fund, or an asset of the fund subject to a lease or lease arrangement between a trustee of the fund and a related party of the fund, but does not include:
 (a) a life policy issued by a life insurance company; or
 (b) a deposit with an ADI; or
 (c) an investment in a pooled superannuation trust, where a trustee of the fund and the trustee of the pooled superannuation trust acted at arm's length in relation to the making of that investment; or
 (d) an asset of a public sector fund, where the asset consists of an investment in securities issued under the authority of:
 (i) the Commonwealth or a government of a State or a Territory; or
 (ii) a public authority constituted by or under a law of the Commonwealth, a State or a Territory, where the public authority is neither a standard employer‑sponsor, nor an associate of a standard employer‑sponsor, of the fund; or
 (e) an asset which the Regulator, by written notice given to a trustee of the fund, determines is not an in‑house asset of the fund; or
 (f) an asset which the Regulator, by legislative instrument, determines is not an in‑house asset of:
 (i) any fund; or
 (ii) a class of funds in which the fund is included; or
 (g) if the superannuation fund has no more than 6 members—real property subject to a lease, or to a lease arrangement enforceable by legal proceedings, between a trustee of the fund and a related party of the fund, if, throughout the term of the lease or lease arrangement, the property is business real property (within the meaning of subsection 66(5)) of the fund; or
 (h) an investment in a widely held unit trust; or
 (i) property owned by the superannuation fund and a related party as tenants in common, other than property subject to a lease or lease arrangement between a trustee of the fund and a related party; or
 (j) an asset included in a class of assets specified in the regulations:
 (i) not to be in‑house assets of any fund; or
 (ii) not to be in‑house assets of a class of funds to which the fund belongs.
  For this purpose, a class of assets may consist of, but is not limited to, assets that are investments in entities that undertake, or do not undertake, specified activities.

Widely held trust
 (1A) For the purposes