Document ID: chunk:federal_register_of_legislation:C2004A01287:clause:2_144
Version: federal_register_of_legislation:C2004A01287
Segment Type: clause
Provision Reference: sch 2 cl 144
Character Range: 119830–120688

144  Subsection 106A(1)
Repeal the subsection, substitute:

Trustee's duty to notify Commissioner of Taxation

 (1) If a trustee of a superannuation entity:
 (a) has knowledge that the superannuation entity has ceased to be a self managed superannuation fund; or
 (b) has knowledge that the superannuation entity has become a self managed superannuation fund since first becoming a superannuation entity;
the trustee must ensure that a written notice is given to the Commissioner of Taxation.

Note: A trustee of a fund that was already a self managed superannuation fund when a trustee, or the trustees, of the fund made an election under section 19 does not have to ensure that a notice is given to the Commissioner of Taxation at that time, because the fund became a self managed superannuation fund before (not since) becoming a superannuation entity.