Document ID: chunk:federal_register_of_legislation:F2022C00244:reg:28
Version: federal_register_of_legislation:F2022C00244
Segment Type: reg
Provision Reference: reg 28
Character Range: 38193–38984

28  Portability
  With the agreement of the Commissioner, a *private ancillary fund may transfer assets to another *ancillary fund if:
 (a) the private ancillary fund transfers all of its net assets to that ancillary fund; and
 (b) the private ancillary fund has already complied with section 15 for that financial year (about minimum annual distributions); and
 (c) none of the assets of the private ancillary fund have been received from another ancillary fund during the 2 previous financial years.

Part 3—Application and transitional provisions

Division 1—Transitional rules for former prescribed private funds
Note: This Division sets out transitional rules modifying how Part 2 applies to a private ancillary fund that was a prescribed private fund at the end of 30 September 2009.