Document ID: chunk:federal_register_of_legislation:F2025C00069:reg:8:p2
Version: federal_register_of_legislation:F2025C00069
Segment Type: reg
Provision Reference: reg 8 (pt 2/9)
Character Range: 204852–207716

10 business days before the new information is to be operative for the entity.

Part 4—Management and trusteeship of superannuation entities

Division 4.1—Prescribed matters

4.01A  Covenants in governing rules of superannuation entity—trustee's determination and benchmarks

MySuper products
 (1) For the purposes of subparagraph 52(9)(a)(i) of the Act, subregulation (2) specifies a benchmark in relation to a MySuper product.
 (2) The benchmark is the requirement in subsection 60D(1) of the Act having been met for the product in relation to the most recently ended financial year.

Choice products
 (3) For the purposes of subparagraph 52(9)(a)(ii) of the Act, subregulation (4) specifies a benchmark in relation to a choice product that is a Part 6A product.
 (4) The benchmark is the requirement in subsection 60D(1) of the Act having been met for the product in relation to the most recently ended financial year.

4.01  Covenants in governing rules of superannuation entity—prescribed information and documents
  For paragraphs 52(2)(j) and 52B(2)(h) of the Act, the information and documents that are available to a concerned person under section 1017C of the Corporations Act 2001 are prescribed.

4.02  Covenants in governing rules of self managed superannuation fund—beneficiary investment choice
 (1) This regulation is made for paragraph 52B(4)(b) of the Act.
 (2) The circumstances in which a direction, other than a subsequent direction, may be made by a specified beneficiary or class of beneficiaries are the following:
 (a) the trustee:
 (i) gives the beneficiary or class a choice of 2 or more strategies for investing the interest of the beneficiary or class in the fund; and
 (ii) informs the beneficiary or class that the beneficiary or class may choose a strategy or combination of strategies;
 (b) the beneficiary or class is fully informed of:
 (i) the investment objectives of each strategy; and
 (ii) anything else the trustee reasonably believes a person would need to know to understand the effect of, and any risk involved in, each strategy;
 (c) the direction specifies:
 (i) which strategy or combination of strategies the beneficiary or class has chosen; and
 (ii) where applicable, matters related to the choice mentioned in subparagraph (i);
Example: The chosen strategy could be one that allows the beneficiary a choice in exposure to certain classes of asset. The beneficiary may choose 60% in fixed interest loans and 40% in shares. The choice of the level of exposure to the class of assets would be information for subparagraph (ii).
 (d) the beneficiary or class is fully informed of the range of directions that can be given and the circumstances in which they can be changed.
 (3) A subsequent direction may be given in the following circumstances:
 (a) the beneficiary or class is given all the information the trustee