Document ID: chunk:federal_register_of_legislation:F2023C00049:clause:1_31
Version: federal_register_of_legislation:F2023C00049
Segment Type: clause
Provision Reference: sch 1 cl 31
Character Range: 50752–51752

31  Commutation of partially asset‑test exempt income stream resulting from the closure of a regulated superannuation fund or sub fund
  These Principles cover an income stream if:
 (a) it is purchased or acquired on or after 20 September 2007; and
 (b) it results from a partially 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
 (c) 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
 (d) the original income stream was:
 (i) covered by section 5JA, 5JB, or 5JBA of the Act or would have been covered by those sections if paragraph 5JA(1)(aa), subparagraph 5JB(1)(a)(i) or subparagraph 5JBA(1)(a)(i) of the Act did not apply; and
 (ii) sourced from a regulated superannuation fund; and
 (iii) covered by the 2007 Principles, 2011 Principles or these Principles.