Document ID: chunk:federal_register_of_legislation:F2023C00046:clause:1_19
Version: federal_register_of_legislation:F2023C00046
Segment Type: clause
Provision Reference: sch 1 cl 19
Character Range: 38342–40044

19  Guidelines for asset‑test exempt income stream resulting from the closure of a regulated superannuation fund or sub-fund
  The Commission may determine that an income stream is an asset‑test exempt income stream for the purposes of the Act if:
           (a)      it would have been covered by section 5JA(1) or 5JB(1) of the Act, if:
             (i)      paragraph 5JA(1)(aa); or
                (ii)     subparagraph 5JB(1)(a)(i);
  of the Act did not apply; and
 (b) it is purchased on or after 20 September 2007; and
 (c) it results from another asset‑test exempt income stream (the original income stream) being commuted as a result of the closure of a regulated superannuation fund or sub-fund; and
 (d) it does not result from another asset‑test exempt income stream (the original income stream) being commuted as a result of the closure of a self managed superannuation fund; and
 (e) the original income stream was covered by section 5JA or 5JB of the Act or would have been covered by those sections, if:
  (i) paragraph 5JA(1)(aa); or
  (ii) subparagraph 5JB(1)(a)(i);
  of the Act did not apply; and
 (f) the original income stream:
 (i) was purchased before 20 September 2004; or
 (ii) was covered by the 2005 Principles during the period starting on 20 September 2004 and ending at the end of 19 September 2007; or
 (iii) was covered by the 2007 Determination during the period starting on 20 September 2007 and ending at the end of 24 November 2011; or
 (iv) was covered by the 2011 Determination during the period starting on 25 November 2011 and ending at the end of the day immediately prior to the commencement of this Determination; or
 (v) is covered by this Determination.