Document ID: chunk:federal_register_of_legislation:C2025C00134:section:71:p3
Version: federal_register_of_legislation:C2025C00134
Segment Type: section
Provision Reference: s 71 (pt 3/4)
Character Range: 507541–510081

of a fund consists of a loan, an investment, or an asset subject to a lease or lease arrangement, other than an in‑house asset; and
 (b) the Regulator, by written notice given to a trustee of the fund, determines that the asset is to be treated, with effect from the day on which the notice is given, as if the asset were a loan to, an investment in, or an asset subject to a lease or lease arrangement with, a specified related party or related trust of the fund, including a person taken to be a standard employer‑sponsor of the fund under section 70A;
then, despite paragraphs (1)(a) to (j), the asset is taken, for the purposes of this Part, to be a loan to or an investment in the related party or related trust, or an asset subject to a lease or lease agreement between a trustee of the fund and the related party.

Paragraph (1)(e) determinations or paragraph (1)(j) regulations may be retrospective
 (5) A determination under paragraph (1)(e) or regulations under paragraph (1)(j) may be expressed to have taken effect at a time earlier than the time when the determination or regulations were made.

Public sector superannuation funds
 (7) For the purposes of applying this section to determine what is an in‑house asset of a public sector superannuation fund, a reference to a Part 8 associate of an employer‑sponsor of the fund is a reference to a body corporate in respect of which either of the following conditions is satisfied:
 (a) the body corporate is sufficiently influenced by, or a majority voting interest in the body corporate is held by, the employer‑sponsor;
 (b) the employer‑sponsor is sufficiently influenced by, or a majority voting interest in the employer‑sponsor is held by, the body corporate.

Limit on when investments in related trusts are in‑house assets
 (8) If, at a time:
 (a) an asset (the investment asset) of a superannuation fund is an investment in a related trust of the fund; and
 (b) the related trust is one described in paragraph 67A(1)(b) in connection with a borrowing, by the trustee of the fund, that is covered by subsection 67A(1); and
 (c) the only property of the related trust is the acquirable asset mentioned in that paragraph;
the investment asset is an in‑house asset of the fund at the time only if the acquirable asset mentioned in that paragraph would be an in‑house asset of the fund if it were an asset of the fund at the time.
 (9) Subsections (1), (2) and (4) have effect subject to subsection (8).

Subdivision D—Transitional arrangements in relation to in‑house assets