Document ID: chunk:federal_register_of_legislation:C2025C00134:section:68aab:p2
Version: federal_register_of_legislation:C2025C00134
Segment Type: section
Provision Reference: s 68AAB (pt 2/3)
Character Range: 472694–475361

of the successor fund had agreed with the trustee of the original fund that the successor fund will confer such equivalent rights on the member.
 (3B) Subsection (3C) applies if:
 (a) the benefits of a member of a regulated superannuation fund (the original fund) are transferred from the original fund to another regulated superannuation fund (the successor fund); and
 (b) the successor fund confers on the member equivalent rights to the rights the member had under the original fund in respect of the benefits.
 (3C) Subsection (1) does not apply in relation to the successor fund providing a benefit to, or in respect of, the member if, immediately before the transfer:
 (a) the original fund provided a benefit to, or in respect of, the member under a choice product or MySuper product held by the member by taking out or maintaining insurance; and
 (b) subsection (1):
 (i) did not apply in relation to the original fund providing that benefit to, or in respect of, the member; but
 (ii) would have applied if paragraphs (1)(a) and (b) were disregarded.
 (4) This section does not apply to:
 (a) a defined benefit member; or
 (b) an ADF Super member (within the meaning of the Australian Defence Force Superannuation Act 2015) who is:
 (i) a member of the Permanent Forces (within the meaning of that Act); or
 (ii) a continuous full‑time Reservist (within the meaning of that Act); or
 (c) a person who would be an ADF Super member covered by paragraph (b) of this subsection apart from the fact that the regulated superannuation fund is or was, for the purposes of Part 3A of the Superannuation Guarantee (Administration) Act 1992, a chosen fund for contributions for the person's superannuation by the Commonwealth; or
 (d) a member to whom the employer‑sponsor contribution exception applies (see section 68AAE); or
 (e) a member to whom the dangerous occupation exception applies (see section 68AAF).
 (5) Nothing in this section affects a right of a member of a regulated superannuation fund if:
 (a) the right relates to insurance cover; and
 (b) in compliance with this section, an insurance premium in relation to the member for that insurance cover ceases to be paid; and
 (c) the right exists because of insurance premiums paid in relation to the member before insurance premiums cease to be paid as mentioned in paragraph (b).
 (6) Nothing in this section affects a right of a member of a regulated superannuation fund if:
 (a) the right is a right to insurance cover for a fixed term, subject only to the payment of insurance premiums; and
 (b) that fixed term begins before the time at which a trustee of the fund is required under subsection (1)