Document ID: chunk:federal_register_of_legislation:F2025C00069:reg:3:p2
Version: federal_register_of_legislation:F2025C00069
Segment Type: reg
Provision Reference: reg 3 (pt 2/52)
Character Range: 75274–77843

Act if:
 (a) it arises under a contract that:
 (i) meets the standards of subregulation (11A) or 1.06A(2); and
 (ii) does not permit the capital supporting the annuity to be added to by way of contribution or rollover after the annuity has commenced; and
 (b) for a benefit purchased on or after 3 August 1993 and before 1 July 2007—it is purchased with the whole or part of a rolled over amount within the meaning given to that term by section 27A of the Tax Act; and
 (c) for a benefit purchased on or after 1 July 2007—it is purchased with the whole or part of:
 (i) a roll‑over superannuation benefit within the meaning of the 1997 Tax Act; or
 (ii) a directed termination payment within the meaning of the Income Tax (Transitional Provisions) Act 1997; and
 (d) in the case of a contract to which paragraph (11A)(a) applies and that meets the standards of subregulation (11A)—the contract also meets the standards of regulation 1.07D; and
 (e) in the case of a contract to which paragraph (11A)(b) applies and that meets the standards of subregulation (11A)—the contract also meets the standards of regulation 1.07B.
 (1A) A benefit that is provided by a life insurance company or a registered organisation that commenced to be paid before 20 September 2007 is taken to be an annuity for the purposes of the Act if:
 (a) it arises under a contract that meets the standards of subregulation (2), (4), (6), (7), (8), (9) or (10); and
 (b) for a benefit purchased on or after 3 August 1993 and before 1 July 2007—it is purchased with the whole or part of a rolled over amount within the meaning given to that term by section 27A of the Tax Act; and
 (c) for a benefit purchased on or after 1 July 2007 and before 20 September 2007—it is purchased with the whole or part of:
 (i) a roll‑over superannuation benefit within the meaning of the 1997 Tax Act; or
 (ii) a directed termination payment within the meaning of the Income Tax (Transitional Provisions) Act 1997; and
 (d) for a benefit that arises under a contract that meets the standards of subregulation (9) and is purchased by the primary beneficiary on or after 20 September 1998—the commencement day under the contract is the day when the benefit was purchased; and
 (e) for a benefit that arises under a contract that meets the standards of subregulation (4)—the contract also meets the standards of regulation 1.07A; and
 (f) for a benefit that arises under a contract that meets the standards of subregulation (2), (6), (7) or (9)—the contract also meets the standards of regulation 1.07B; and
 (g) for a