Document ID: chunk:federal_register_of_legislation:F2025C00069:reg:8:p33
Version: federal_register_of_legislation:F2025C00069
Segment Type: reg
Provision Reference: reg 8 (pt 33/41)
Character Range: 714915–717716

so ceases.

13.17D  Cooperation with AFCA
 (1) For the purposes of subsection 31(1) of the Act, the requirement set out in subregulation (3) is a standard applicable to the operation of regulated superannuation funds (other than self managed superannuation funds).
 (2) For the purposes of subsection 32(1) of the Act, the requirement set out in subregulation (3) is a standard applicable to the operation of approved deposit funds.
 (3) A trustee of such a fund that is required to be a member of the AFCA scheme by paragraph 101(1)(a) of the Act must take reasonable steps to cooperate with AFCA in resolving any complaint under the AFCA scheme to which the trustee is a party, including by:
 (a) giving reasonable assistance to AFCA in resolving the complaint; and
 (b) identifying, locating and providing to AFCA any documents and information that AFCA reasonably requires for the purposes of resolving the complaint; and
 (c) giving effect to any determination made by AFCA in relation to the complaint.
 (4) Subregulation (3) does not apply to superannuation complaints (within the meaning of the Corporations Act 2001).
Note: For provisions relating to superannuation complaints, see Division 3 of Part 7.10A of the Corporations Act 2001.

Division 13.3—Various prescribed matters

13.18  Sole purpose test—specified age
  For the purposes of subparagraph 62(1)(a)(ii) of the Act, 65 years is the specified age.

13.18AA  Self managed superannuation funds—investment in collectables and personal use assets
 (1) For section 62A of the Act, this regulation applies to investments involving any of the following (section 62A items):
 (a) artwork (within the meaning of the Income Tax Assessment Act 1997);
 (b) jewellery;
 (c) antiques;
 (d) artefacts;
 (e) coins, medallions or bank notes;
 (f) postage stamps or first day covers;
 (g) rare folios, manuscripts or books;
 (h) memorabilia;
 (i) wine or spirits;
 (j) motor vehicles;
 (k) recreational boats;
 (l) memberships of sporting or social clubs.

Asset must not be leased to related party
 (2) Each trustee of a regulated superannuation fund that is a self managed superannuation fund commits an offence if:
 (a) the fund holds an investment involving a section 62A item; and
 (b) either:
 (i) an interest in the item is leased to a related party of the fund; or
 (ii) a trustee of the fund enters a lease arrangement with a related party of the fund in relation to the item.
Penalty: 10 penalty units.
Note: Lease arrangement and related party are defined in subsection 10(1) of the Act.

Item must not be stored in private residence of related party
 (3) Each trustee of a regulated superannuation fund that is a self managed superannuation fund commits an offence if:
 (a) the fund holds an investment involving a section 62A item; and