Document ID: chunk:federal_register_of_legislation:C2015C00050:clause:1_29wb:p2
Version: federal_register_of_legislation:C2015C00050
Segment Type: clause
Provision Reference: sch 1 cl 29WB (pt 2/2)
Character Range: 43218–44097

member mentioned in subsection (1) is invested in one or more of the following on 31 March 2013:
 (a) a life policy under which contributions and accumulated earnings may not be reduced by negative investment returns or any reduction in the value of assets in which the policy is invested;
 (b) a life policy under which the benefit to the member (or a relative or dependant of the member) is based only on the realisation of a risk, not the performance of an investment;
 (c) an investment account contract the only beneficiaries of which are the member, and relatives and dependants of the member;
 (d) an investment option under which the investment is held as cash;
subsection (2) does not apply to the extent that a contribution to the fund for the benefit of the member is invested in the life policy, under the investment account contract or in the cash investment option.