Document ID: chunk:federal_register_of_legislation:F2015L00807:body:0:p14
Version: federal_register_of_legislation:F2015L00807
Segment Type: other
Provision Reference: 
Character Range: 36912–39387

option meets the definition of a select investment option. For example, in Figure B1, at the most recent 30 June:
       (a)          RSE No.1 held $10bn in assets;
       (b)          Balanced Option 1 held $900m in assets, of which:
           (i)                   the MySuper Product has invested $800m;
           (ii)                   the pension product has invested $35m;
           (iii)                   Product 1 has invested $40m;
           (iv)                   Product 3 has invested $25m; and
       (c)          no defined benefit members hold an exposure to Balanced Option 1 within RSE No. 1.
    The total non-MySuper exposure of Balanced Option 1 equals $100m, which is less than five per cent of the total assets of RSE No. 1 and less than $200m. Balanced Option 1 therefore meets neither limb a(i) nor limb a(ii) of the definition of a select investment option.
    As a result, Balanced Option 1 is not a select investment option.
    [1]  For the avoidance of doubt, if the due date for a particular reporting day falls on a day other than a usual business day, an RSE licensee is nonetheless required to submit the information required no later than the due date.
    [2]  Refer also to Prudential Standard SPS 310 Audit and Related Matters (SPS 310).
    [3]  Refer to Prudential Standard SPS 510 Governance.
    [4]  For the purposes of this Reporting Standard, an 'investment option' includes but is not limited to pre-mixed options, investment vehicles and instruments that are made available, or have previously been made available, by the RSE licensee from which members of an RSE can select when determining how their interest is to be invested.
    [5]  For the purposes of these instructions, 'small APRA fund' means a superannuation entity that is a regulated superannuation fund, within the meaning of the SIS Act, which has fewer than five members and 'single member approved deposit fund' means a superannuation entity that is an approved deposit fund, within the meaning of the SIS Act, and has only one member.
    [6]  For the purposes of this Reporting Standard, an 'investment option' includes but is not limited to pre-mixed options, investment vehicles and instruments that are made available, or have previously been made available, by the RSE licensee from which members of an RSE can select when determining how their interest is to be invested.
[7] Note that the outline in Figure B1 is provided for illustrative purposes.