Document ID: chunk:federal_register_of_legislation:C2019C00093:clause:1_29tc:p2
Version: federal_register_of_legislation:C2019C00093
Segment Type: clause
Provision Reference: sch 1 cl 29TC (pt 2/2)
Character Range: 21510–22845

of those assets by the trustee, or trustees, of the fund on the satisfaction of a condition of release of benefits specified in a standard made under paragraph 31(2)(h) by a person who holds a beneficial interest of that class, unless the payment is derived from a benefit of the kind mentioned in subparagraph 62(1)(b)(ii) provided to the fund by an insurer.
Note: Subparagraph 62(1)(b)(ii) is about benefits payable when a person ceases work due to ill‑health.
 (2) A lifecycle exception is a rule under the governing rules of the fund that allows gains and losses from different classes of asset of the fund to be streamed to different subclasses of the members of the fund who hold a MySuper product:
 (a) on the basis, and only on the basis, of the age of those members; or
 (b) on the basis of the age of those members and other prescribed factors; or
 (c) on the basis of the age of those members and other prescribed factors in prescribed circumstances.
 (3) A limitation on the source or kind of contributions made by or on behalf of persons who hold a beneficial interest of a particular class in a regulated superannuation fund is permitted for the purposes of paragraph (1)(f) if:
 (a) the limitation is of a prescribed kind; or
 (b) the limitation is imposed by or under the general law or another law of the Commonwealth.