Document ID: chunk:federal_register_of_legislation:F2017L00730:body:0:p8
Version: federal_register_of_legislation:F2017L00730
Segment Type: other
Provision Reference: 
Character Range: 19591–22428

members' benefits and defined benefit members' benefits. Do not include unallocated contributions.

         The types of member interest movement are: switch from MySuper product to MySuper product, switch from choice product to MySuper product, switch from MySuper product to choice product and switch from choice product to choice product.

Switch   Represents where a member has transferred part or all of the benefits in an account, from one interest to another interest in the same RSE. Reference: SIS Act, s. 10(1).

Interpretation

For the purposes of these instructions:

     * choice product has the meaning given in section 10(1) of the SIS Act;

     * defined benefit RSE means an RSE that is a defined benefit fund within the meaning given in Prudential Standard SPS 160 Defined Benefit Matters;

     * eligible rollover fund (ERF) has the meaning given in section 10(1) of the SIS Act;

     * ITAA means Income Tax Assessment Act 1997;

     * MySuper product means a MySuper product within the meaning given in section 10(1) of the SIS Act regardless of whether or not it has a lifecycle investment strategy;

     * RSE means a registrable superannuation entity as defined in section 10(1) of the SIS Act that is not a defined benefit RSE, pooled superannuation trust, ERF, small APRA fund or single member approved deposit fund[5];

     * RSE licensee has the meaning given in section 10(1) of the SIS Act;

     * SIS Act means Superannuation Industry (Supervision) Act 1993; and

     * SIS Regulations means Superannuation Industry (Supervision) Regulations 1994.

    [1]  For the purposes of this Reporting Standard, an 'RSE licensee's business operations' includes all activities as an RSE licensee (including the activities of each RSE of which it is the licensee), and all other activities of the RSE licensee to the extent that they are relevant to, or may impact on, its activities as an RSE licensee. For the avoidance of doubt, if the RSE licensee is trustee of more than one RSE, defined benefit RSE or ERF, the RSE licensee must separately provide the information required by the form for each RSE, defined benefit RSE or ERF within its business operations. An RSE licensee that does not have any RSEs, defined benefit RSEs or ERFs within its business operations is not required to provide information under this Reporting Standard.
    [2]  Refer also to Prudential Standard SPS 310 Audit and Related Matters (SPS 310).
    [3]  Refer to Prudential Standard SPS 510 Governance.
    [4]  For the purposes of this Reporting Standard, 'pooled superannuation trust' has the meaning given in section 10(1) of the SIS Act, 'small APRA fund' means a superannuation entity that is a regulated superannuation fund, within the meaning of the SIS Act, which has fewer than five members and 'single