Document ID: chunk:federal_register_of_legislation:F2025C00069:reg:3:p33
Version: federal_register_of_legislation:F2025C00069
Segment Type: reg
Provision Reference: reg 3 (pt 33/71)
Character Range: 475578–478244

not apply only because shares in the life insurance company issuing the policies were acquired because the company was demutualised:
 (i) would otherwise be wholly determined by reference to policies of life assurance; and
 (ii) the shares have been held for no longer than 18 months from the date of acquisition.

8.02  Accounts and statements that must be prepared
 (1) This regulation is made for the purposes of paragraph 35B(1)(c) of the Act.
 (2) Where, because of subregulation 8.01(3), paragraphs 35B(1)(a) and (b) of the Act do not apply in respect of a regulated superannuation fund in respect of a year of income, the accounts and statements mentioned in subregulation (3) are specified in respect of the fund in respect of that year of income.
 (3) Those accounts and statements are:
 (a) a statement that policies of the kinds mentioned in subregulation 8.01(3) are in place at the end of the year of income; and
 (b) a statement as to whether those policies have been fully maintained as directed by the relevant insurers; and
 (c) a statement of the identities of those insurers; and
 (d) the amounts contributed by employers and members in respect of the year of income; and
 (e) where not all of those amounts have been paid as premiums on the policies—the amount of premiums paid on the policies in respect of the year of income; and
 (f) the expenses incurred by the fund in respect of the year of income, other than amounts covered by premiums.

8.02A  Period within which an auditor must be appointed
  For subsection 35C(1) of the Act, the prescribed period is not later than 45 days before the day by which section 35D of the Act requires a return to be lodged for the fund.
Note: See regulation 8.03 for the period within which a report mentioned in subsection 35C(6) of the Act must be provided.

8.02B  Asset must be valued at market value
  For subsection 35B(2) of the Act, for the year of income 2012–13 and any later year of income, when preparing accounts and statements required by subsection 35B(1) of the Act, an asset must be valued at its market value.
Note: Market value is defined in subsection 10(1) of the Act.

8.03  Period within which audit report must be given
  For subsection 35C(6) of the Act, the period within which a report mentioned in that subsection must be given is 28 days after the trustee of the fund has provided all documents relevant to the preparation of the report to the auditor.

Part 9—Financial management of funds

Division 9.1—Introductory

9.01  Interpretation
  In this Part:
funding and solvency certificate means a certificate required under regulation 9.09.

Division 9.2—Financial position of