Document ID: chunk:federal_register_of_legislation:C2010C00222:clause:7_47
Version: federal_register_of_legislation:C2010C00222
Segment Type: clause
Provision Reference: sch 7 cl 47
Character Range: 51171–52062

47  Subsection 995‑1(1)
Insert:

complying superannuation/FHSA life insurance policy means a *life insurance policy that:
 (a) is held by:
 (i) the trustee of a fund that is a *complying superannuation fund or a *complying approved deposit fund; or
 (ii) the trustee of a *pooled superannuation trust; or
 (b) is held by an individual and:
 (i) provides for an *annuity that is not presently payable, if the annuity was purchased out of a *superannuation lump sum or an *employment termination payment; or
 (ii) is so held in the benefit fund of a *friendly society, being a fund that is a regulated superannuation fund under the Superannuation Industry (Supervision) Act 1993; or
 (c) is held by another *life insurance company and is a *complying superannuation/FHSA asset of that company; or
 (d) is an *FHSA;
and is not an *excluded complying superannuation/FHSA life insurance policy.