Document ID: chunk:federal_register_of_legislation:C2022C00095:section:24:p1
Version: federal_register_of_legislation:C2022C00095
Segment Type: section
Provision Reference: s 24 (pt 1/2)
Character Range: 75941–78574

24  Certain benefit certificates presumed to be certificates in relation to complying superannuation scheme
 (1) Subject to subsection (4), a benefit certificate that has effect in relation to a superannuation scheme (being a scheme to which an employer has contributed for the benefit of an employee) for the whole or a part of a quarter is, for the purposes of section 22, conclusively presumed, in relation to the employer, to be a certificate that has effect in relation to a complying superannuation scheme for the whole, or that part, as the case may be, of the quarter if:
 (a) within 30 days of the starting day in relation to that certificate, the employer obtains a written statement, provided by or on behalf of the trustee of the scheme, that the scheme:
 (i) is a resident regulated superannuation fund within the meaning of the Superannuation Industry (Supervision) Act 1993; and
 (ii) is not subject to a direction under section 63 of the Superannuation Industry (Supervision) Act 1993; and
 (iii) has not been subject to such a direction at any time since the beginning of the day on which the benefit certificate is expressed to take effect; or
 (b) in an earlier quarter, the employer has obtained a statement of the kind referred to in paragraph (a).
 (2) Subject to subsection (4), a benefit certificate that has effect in relation to a superannuation scheme (being a scheme to which an employer has contributed for the benefit of an employee) for the whole or a part of a quarter is, if the employer obtains a statement of the kind referred to in paragraph (1)(a):
 (a) within the quarter; but
 (b) later than 30 days after the starting day in relation to that certificate;
for the purposes of section 22, conclusively presumed, in relation to the employer, to be a certificate that has effect in relation to a complying superannuation scheme for the period commencing on the day on which the employer obtains the statement and ending on the last day of the quarter.
 (4) A presumption relating to a benefit certificate under subsection (1) or (2) is not, in relation to an employer and a superannuation scheme, effective in respect of any period for which the scheme is not a resident regulated superannuation fund within the meaning of the Superannuation Industry (Supervision) Act 1993 or is operating in contravention of a regulatory provision, as defined in section 38A of that Act if, in that period:
 (a) the employer:
 (i) is the trustee or manager of the scheme; or
 (ii) has an association, within the meaning of section 318 of the Income Tax Assessment Act 1936, with the trustee or the manager of the