Document ID: chunk:federal_register_of_legislation:F2025C00069:reg:3:p62
Version: federal_register_of_legislation:F2025C00069
Segment Type: reg
Provision Reference: reg 3 (pt 62/71)
Character Range: 548022–550774

as reported to APRA in accordance with the applicable fees standard.
transaction costs flat amount, of a Part 6A product in relation to a financial year, means the Part 6A product's dollar amount (for the transaction costs type of fee) in relation to the end of the financial year, as reported to APRA in accordance with the applicable fees standard.
transaction costs percentage, of a Part 6A product in relation to a financial year, means the Part 6A product's percentage of member balance (for the transaction costs type of fee) in relation to the end of the financial year, as reported to APRA in accordance with the applicable fees standard.
trustee‑directed product has the meaning given by regulation 9AB.2.

9AB.2  Meaning of Part 6A product—trustee‑directed products
 (1) For the purposes of paragraph 60B(b) of the Act, trustee‑directed products are identified as a class of beneficial interest in a regulated superannuation fund.
 (2) A class of beneficial interest in a regulated superannuation fund is a trustee‑directed product in the fund if:
 (a) at least one of the beneficial interests in the class is not a superannuation interest (within the meaning of the 1997 Tax Act) that supports any of the following:
 (i) a superannuation income stream that is in the retirement phase;
 (ii) a superannuation income stream that is a transition to retirement income stream (within the meaning of Part 6 of these Regulations); and
 (b) the investment strategy, for the class of beneficial interest, of the trustee of the fund:
 (i) requires the class of beneficial interest to have strategic asset allocations to more than one covered asset class; and
 (ii) if there are only 2 such strategic asset allocations—requires each of those strategic asset allocations (expressed as a percentage) to the class of beneficial interest to exceed 10%; and
 (c) a beneficiary of the fund cannot require any trustee of the fund to alter an amount attributable to the beneficiary to be invested in a particular covered asset class; and
 (d) none of the exceptions in subregulations (5), (6) and (7) applies.
 (3) For the purposes of paragraph (2)(b), in determining a strategic asset allocation to a covered asset class, assume that the class of beneficial interest is a standard Part 6A product.
 (4) For the purposes of subparagraph (2)(b)(i), treat 2 covered asset classes for a quarter as being one covered asset class for the quarter if the only difference between the descriptions of those classes in the table in regulation 9AB.17 relating to the quarter is that:
 (a) the description of one of those classes contains the word "hedged"; and
 (b) the description of the other class contains the word "unhedged".
 (4A) Despite subregulation (4), for the