Document ID: chunk:federal_register_of_legislation:F2025C00069:reg:26:p7
Version: federal_register_of_legislation:F2025C00069
Segment Type: reg
Provision Reference: reg 26 (pt 7/13)
Character Range: 586250–589116

the quarter is the first quarter that starts in the lookback period.

Change of lifestages
 (3) Subregulation (4) applies if:
 (a) the following circumstances exist:
 (i) a lifecycle Part 6A product has particular lifestages at the end of a quarter in a lookback period for the product in respect of a financial year;
 (ii) the product has different lifestages at the end of a later quarter in the lookback period; and
 (b) either or both of the following apply:
 (i) the Part 6A product and the quarters are in a class of Part 6A products and quarters specified in a determination under subregulation (4A);
 (ii) the Part 6A product and the quarters are specified in a determination under subregulation (5).
 (4) Despite subregulation (2), the actual return, for the Part 6A product for the lookback period, is the amount calculated using the formula in subregulation (2), as modified in the way specified in the following determination:
 (a) if only subparagraph (3)(b)(i) applies—the determination mentioned in that subparagraph;
 (b) if only subparagraph (3)(b)(ii) applies—the determination mentioned in that subparagraph;
 (c) if both subparagraphs (3)(b)(i) and (ii) apply—the determination mentioned in subparagraph (3)(b)(i).
 (4A) For the purposes of subparagraph (3)(b)(i), APRA may, by legislative instrument, make a determination that:
 (a) specifies classes of Part 6A products and quarters; and
 (b) specifies modifications of the formula in subregulation (2) that APRA considers are reasonably necessary to reflect the circumstances mentioned in paragraph (3)(a) in respect of the specified classes of Part 6A products and quarters.
 (5) For the purposes of subparagraph (3)(b)(ii), APRA may make a determination, in writing, that:
 (a) specifies:
 (i) a lifecycle Part 6A product; and
 (ii) the superannuation entity that offers the Part 6A product; and
 (iii) 2 quarters; and
 (b) specifies modifications of the formula in subregulation (2) that APRA considers are reasonably necessary to reflect the circumstances mentioned in paragraph (3)(a) in respect of the specified Part 6A product and quarters.
 (6) APRA must give a notice of a determination under subregulation (5) to the trustee of the superannuation entity specified in the determination. The notice must:
 (a) be in writing; and
 (b) include a copy of the determination.

9AB.13  Meaning of benchmark return—standard Part 6A products
 (1) This regulation applies to standard Part 6A products.
 (2) The benchmark return, for a Part 6A product for a lookback period for the product in respect of a financial year, is the amount calculated using the following formula, rounded to 10 decimal places (rounding up if the eleventh decimal place is 5 or more):
where:
a represents a covered asset class for the quarter, where the value of "a" corresponds to the number of the item of the table