Document ID: chunk:federal_register_of_legislation:F2025C00069:reg:3:p49
Version: federal_register_of_legislation:F2025C00069
Segment Type: reg
Provision Reference: reg 3 (pt 49/71)
Character Range: 515876–518534

defined benefit fund or sub‑fund, means the date on which an investigation required under regulation 9.29 or 9.29A was carried out in relation to the fund or sub‑fund.

9.28  Prescription of standards
  For the purposes of subsection 31(1) of the Act, the standards contained in regulations 9.29, 9.29A and 9.30 are prescribed as standards applicable to the operation of defined benefit funds that are self managed superannuation funds.

9.29  Actuarial investigation standard
 (1) Subject to regulation 9.29A, a trustee of a defined benefit fund must require an initial actuarial investigation (the first actuarial investigation) to be made in relation to the fund as a whole or each defined benefit sub‑fund in the fund.
 (2) If the first actuarial investigation is in relation to the fund as a whole it must be made:
 (a) for a defined benefit fund in operation on 30 June 1994—at a date no later than 3 years after:
 (i) the date at which the last actuarial investigation of the fund as a whole was made; or
 (ii) if no actuarial investigation has been made—the date of establishment of the fund or conversion of the fund to a defined benefit fund; or
 (b) for a new fund—at the date of establishment or conversion of the fund.
 (3) If the first actuarial investigation is in relation to a defined benefit sub‑fund in the fund it must be made:
 (a) for a defined benefit sub‑fund in operation on 30 June 1994—at a date no later than 3 years after:
 (i) the date at which the last actuarial investigation of the sub‑fund was made; or
 (ii) if no actuarial investigation was made—the date of establishment of the sub‑fund or conversion of the sub‑fund to a defined benefit sub‑fund; or
 (b) for a new defined benefit sub‑fund—at the date of establishment or conversion of the sub‑fund.
 (4) A trustee of a defined benefit fund or sub‑fund must, after the first actuarial investigation has been made in relation to the fund or sub‑fund, require regular actuarial investigations to be made in relation to the fund or sub‑fund at least every 3 years.
 (5) The Commissioner of Taxation may direct the trustee of the fund or sub‑fund, in writing, to require an actuarial investigation to be made in relation to the fund or sub‑fund, if the Commissioner of Taxation considers, on reasonable grounds, that to do so would be:
 (a) in the prudential interests of the fund or sub‑fund; and
 (b) in the best interests of the members or beneficiaries of the fund or sub‑fund.
 (6) The trustee of the fund or sub‑fund must comply with a written direction under subregulation (5).

9.29A  Actuarial investigation standard—exemption
 (1) Regulation 9.29 does not apply to