Document ID: chunk:federal_register_of_legislation:F2025C00069:reg:3:p9
Version: federal_register_of_legislation:F2025C00069
Segment Type: reg
Provision Reference: reg 3 (pt 9/66)
Character Range: 245702–248403

the fund (including the costs (if any) incurred by the fund as a result of the operation of Division 5.4) are distributed in a fair and reasonable manner as between:
 (a) all the members of the fund; and
 (b) the various kinds of benefits of each member of the fund.

5.02B  Priority in deducting surcharge or instalment
 (1) This regulation applies if a trustee has decided to reduce a member's benefits in connection with payment of a superannuation contributions surcharge or an advance instalment of surcharge.
 (2) In reducing the member's benefits, the trustee must:
 (a) if possible—deduct an amount equal to the whole of the amount of the reduction from the preserved benefits; and
 (b) if the required deduction cannot be met under paragraph (a)—deduct the balance from the restricted non‑preserved benefits; and
 (c) if the required deduction cannot be met under paragraphs (a) and (b)—deduct the balance from the unrestricted non‑preserved benefits.

5.02C  Refund of costs
 (1) The trustee of a regulated superannuation fund or approved deposit fund may refund, to a member's benefits in the fund, costs charged against the member's benefits.
 (2) In determining the amount of refund to be credited, the trustee must ensure that the total amount to be refunded is distributed in a fair and reasonable manner to all the members of the fund against whom the costs were charged.

5.03  Investment returns
 (1) The trustee of an accumulation fund or an approved deposit fund that maintains reserves must determine the investment return to be credited or debited from time to time to a member's benefit (or benefits of a particular kind) in the fund, having regard to:
 (a) the return to the fund on investments; and
 (b) the extent to which the costs of the fund exceed (or fall below) the aggregate of the costs charged to member's benefits under regulation 5.02; and
 (c) the level of the reserves of the entity.
 (2) Subject to regulation 5.01B and Division 6.1, the trustee of a regulated superannuation fund or an approved deposit fund must determine the investment return to be credited or debited to a member's benefits (or benefits of a particular kind) in a way that is fair and reasonable as between:
 (a) all the members of the fund; and
 (b) the various kinds of benefits of each member of the fund.

Division 5.2—Minimum benefits

5.04  Minimum benefits—regulated superannuation funds
 (1) Subject to regulations 5.05, 5.06 and 5.06B, a member's minimum benefits in a regulated superannuation fund are as set out in this regulation.
 (2) If the fund is an accumulation fund, the member's minimum benefits are all of the member's benefits in the fund.
 (3) If the fund is a defined