Document ID: chunk:federal_register_of_legislation:C2025C00185:section:1017ba:p2
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 1017BA (pt 2/2)
Character Range: 4395807–4397639

which contributions and accumulated earnings may not be reduced by negative investment returns or any reduction in the value of assets in which the policy is invested;
 (ii) a life policy under which the benefit to a member (or a relative or dependant of a member) is based only on the realisation of a risk, not the performance of an investment;
 (iii) an investment account contract the only beneficiaries of which are a member, and relatives and dependants of a member; or
 (b) the sole purpose of the investment option is the payment of a pension to members who have satisfied a condition of release of benefits specified in a standard made under paragraph 31(2)(h) of the Superannuation Industry (Supervision) Act 1993; or
 (c) the assets of the fund that are invested under the option are invested only in another single asset.
 (4A) The regulations may prescribe circumstances in which assets of a regulated superannuation fund are, or are not, to be treated as invested in a single asset for the purposes of paragraph (4)(c).

Civil liability
 (4B) A person contravenes this subsection if the person contravenes subsection (1).
Note: This subsection is a civil penalty provision (see section 1317E).
 (5) In this section:
fee, in relation to a MySuper product or a choice product offered by a regulated superannuation fund, means a fee (other than an activity fee, an advice fee or an insurance fee within the meaning of the Superannuation Industry (Supervision) Act 1993) that may be charged by the trustee, or the trustees, of the regulated superannuation fund in relation to the product under that Act.
investment account contract has the same meaning as in the Life Insurance Act 1995.
member, in relation to a regulated superannuation fund, has the same meaning as in the Superannuation Industry (Supervision) Act 1993.