Document ID: chunk:federal_register_of_legislation:C2025C00134:section:29tc:p2
Version: federal_register_of_legislation:C2025C00134
Segment Type: section
Provision Reference: s 29TC (pt 2/2)
Character Range: 228871–230876

is required, under a law of the Commonwealth; or
 (iii) the person who holds the old interest consents in writing to the replacement with the new interest no more than 30 days before it occurs; and
 (i) to the extent that assets of the fund are attributed to beneficial interests of that class, a pension is not payable out of those assets by the trustee, or trustees, of the fund on the satisfaction of a condition of release of benefits specified in a standard made under paragraph 31(2)(h) by a person who holds a beneficial interest of that class, unless the payment is derived from a benefit of the kind mentioned in subparagraph 62(1)(b)(ii) provided to the fund by an insurer; and
Note: Subparagraph 62(1)(b)(ii) is about benefits payable when a person ceases work due to ill‑health.
 (j) no member who holds a beneficial interest of that class in the fund is precluded from holding a beneficial interest of another class in the fund because of that fact; and
 (k) no member is precluded from holding a beneficial interest of that class in the fund because the member holds a beneficial interest of another class in the fund.
 (2) A lifecycle exception is a rule under the governing rules of the fund that allows gains and losses from different classes of asset of the fund to be streamed to different subclasses of the members of the fund who hold a MySuper product:
 (a) on the basis, and only on the basis, of the age of those members; or
 (b) on the basis of the age of those members and other prescribed factors; or
 (c) on the basis of the age of those members and other prescribed factors in prescribed circumstances.
 (3) A limitation on the source or kind of contributions made by or on behalf of persons who hold a beneficial interest of a particular class in a regulated superannuation fund is permitted for the purposes of paragraph (1)(f) if:
 (a) the limitation is of a prescribed kind; or
 (b) the limitation is imposed by or under the general law or another law of the Commonwealth.