Document ID: chunk:federal_register_of_legislation:F2022C01068:reg:18
Version: federal_register_of_legislation:F2022C01068
Segment Type: reg
Provision Reference: reg 18
Character Range: 29702–31009

18  Commutation of asset‑test exempt income stream resulting from the closure of a regulated superannuation fund or sub fund
  These Principles cover an asset‑test exempt income stream if:
 (a) it is covered by section 9A or 9B of the Act; and
 (b) it is purchased or acquired on or after 20 September 2004; and
 (c) it results from another asset‑test exempt income stream (the original income stream) being commuted as a result of the closure of a regulated superannuation fund or sub-fund; and
 (d) it does not result from another asset‑test exempt income stream (the original income stream) being commuted as a result of the closure of a self managed superannuation fund; and
 (e) the original income stream was:
 (i) covered by section 9A or 9B of the Act; and
 (ii) sourced from a regulated superannuation fund; and
 (f) the original income stream:
 (i) was covered by the 2005 Principles during the period starting on 20 September 2004 and ending at the end of 19 September 2007; or
 (ii) was covered by the 2007 Principles during the period starting on 20 September 2007 and ending at the end of 28 November 2011; or
 (iii) until the commencement of these Principles, was covered by the 2011 Principles; or
 (iv) was covered by these Principles.

Part 3  Partially asset‑test exempt income streams