Document ID: chunk:federal_register_of_legislation:C2004A00972:clause:8_4
Version: federal_register_of_legislation:C2004A00972
Segment Type: clause
Provision Reference: sch 8 cl 4
Character Range: 25413–25924

4  After subsection 121A(1)
Insert:

 (1A) Subsection (1) does not apply in respect of a superannuation fund at a particular time (the relevant time) if:
 (a) at the relevant time the fund is being wound up; and
 (b) immediately before the commencement of the winding up, the fund had at least 5 members; and
 (c) the relevant time is not more than one year (or such longer period, if any, as APRA allows in respect of the fund) after the time, or the first time, at which the number of members falls below 5.