Document ID: chunk:federal_register_of_legislation:F2017L00728:body:0:p11
Version: federal_register_of_legislation:F2017L00728
Segment Type: other
Provision Reference: 
Character Range: 28393–31188

SMADF already reported in item 2.

Transfers out of reserves affecting net assets available to pay members' benefits  Represents the total value transferred out of a reserve that results in a decrease in the net assets available to pay members' benefits. Excludes: expenses where the source of payment, or portion thereof, was a reserve.

Item 21                                        Item 21 is a derived item. Report change in net assets available to pay benefits in item 21 as the net of members' benefits flows in, in item 8 and members benefits flows out in item 9, plus profit/loss after income tax in item 18 and transfers into reserves affecting net assets available to pay members' benefits in item 19 minus transfers out of reserves affecting net assets available to pay members' benefits in item 20.

Net assets available to pay members' benefits  Represents the surplus of total assets less total liabilities which is underlying the value of members' benefits. Includes: reserves.

Interpretation

For the purposes of these instructions:

     * exempt public sector superannuation scheme (EPSSS) has the meaning given in section 10(1) of the SIS Act and is a public sector scheme nominated by its respective Commonwealth, state or territory government to be exempt from the SIS Act;

     * RSE means a registrable superannuation entity as defined in section 10(1) of the SIS Act;

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

     * single member approved deposit fund (SMADF) means a superannuation entity that is an approved deposit fund, within the meaning of section 10(1) of the SIS Act, that has only one member;

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

     * small APRA fund (SAF) means a superannuation entity that is a regulated superannuation fund, within the meaning given in section 10(1) of the SIS Act, which has fewer than five members.

    [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 SAF or SMADF, the RSE licensee must separately provide the information required by the form for each SAF or SMADF within its business operations. An RSE licensee that does not have any SAFs or SMADFs 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