Document ID: chunk:federal_register_of_legislation:C2019C00215:clause:1_107
Version: federal_register_of_legislation:C2019C00215
Segment Type: clause
Provision Reference: sch 1 cl 107
Character Range: 22778–24479

107  Subsection 995‑1(1)
Insert:
complying superannuation asset has the meaning given by subsection 320‑170(6).
complying superannuation asset pool has the meaning given by subsection 320‑170(6).
complying superannuation class:
 (a) for a taxable income of a *life insurance company—has the meaning given by section 320‑137; or
 (b) for a *tax loss of a *life insurance company—has the meaning given by section 320‑141.
complying superannuation liabilities of a *life insurance company means liabilities of the company under *life insurance policies referred to in subsection 320‑190(1).
complying superannuation life insurance policy means a *life insurance policy that:
 (a) is held by:
 (i) the trustee of a fund that is a *complying superannuation fund or a *complying approved deposit fund; or
 (ii) the trustee of a *pooled superannuation trust; or
 (b) is held by an individual and:
 (i) provides for an *annuity that is not presently payable, if the annuity was purchased out of a *superannuation lump sum or an *employment termination payment; or
 (ii) is so held in the benefit fund of a *friendly society, being a fund that is a *regulated superannuation fund; or
 (c) is held by another *life insurance company and is a *complying superannuation asset of that company;
and is not an *excluded complying superannuation life insurance policy.
excluded complying superannuation life insurance policy means a *life insurance policy that:
 (a) provides only for *superannuation death benefits, *disability superannuation benefits or temporary disability benefits of a kind referred to in paragraph 295‑460(c), that are not *participating benefits; or
 (b) is an *exempt life insurance policy.