Document ID: chunk:federal_register_of_legislation:C2010C00673:body:0:p53
Version: federal_register_of_legislation:C2010C00673
Segment Type: other
Provision Reference: 
Character Range: 130966–133778

taxation consequences that would arise if the
entity were to be treated as a non-complying superannuation
fund for the purposes of Part IX of the Income Tax Assessment
Act 1936 in relation to the year of income concerned; and
      (B) the seriousness of the contravention; and
      (C) all other relevant circumstances;
thinks that a notice should be given stating that the entity is
not a complying superannuation fund in relation to the year of
income concerned; or
  (b) all of the following conditions are satisfied:
    (i) one or more members of the entity were in any way
directly or indirectly knowingly concerned in, or party to, the
contravention;
    (ii) one or more members of the entity (the 'innocent
members') were not in any way directly or indirectly knowingly
concerned in, or party to, the contravention;
    (iii) none of the innocent members would suffer any
substantial financial detriment if the entity were to be
treated as a non-complying superannuation fund for the purposes
of Part IX of the Income Tax Assessment Act 1936 in relation to
the year of income concerned;
    (iv) the Commissioner, after considering:
      (A) the taxation consequences that would arise if the
entity were to be treated as a non-complying superannuation
fund for the purposes of Part IX of the Income Tax Assessment
Act 1936 in relation to the year of income concerned; and
      (B) the seriousness of the contravention; and
      (C) all other relevant circumstances;
thinks that a notice should be given stating that the entity is
not a complying superannuation fund in relation to the year of
income concerned.
  "(1B) For the purposes of subsection (1A), if there is a
question whether a person was in any way directly or indirectly
knowingly concerned in, or party to, a particular
contravention, that question may be decided on the balance of
probabilities.".
  112. Application
The amendments made by this Division apply in relation to the
1994-95 year of income and each later year of income.
Division 3 - Amendments relating to the equal representation rules
  113. Object
The object of this Division is to abolish the rule that allows
contraventions of the "equal representation" provisions of Part
9 of the Superannuation Industry (Supervision) Act 1993 to be
taken into account in determining "complying superannuation
fund" status.
  114. Subsection 39(1):
Omit "(other than Part 9)".
  115. Subsection 42(2):
Omit the subsection.
  116. Section 87:
Omit "not being a complying superannuation fund for the
purposes of Part IX of the Income Tax Assessment Act (see Part
5 of this Act)", substitute "being directed under section 63
not to accept any contributions made to the fund by an
employer-sponsor (see subsection 63(6))".
  117. Application
The amendments made by this Division apply