Document ID: chunk:federal_register_of_legislation:C2004A00656:clause:1_4a
Version: federal_register_of_legislation:C2004A00656
Segment Type: clause
Provision Reference: sch 1 cl 4A
Character Range: 1789–2954

4A  Definition of widely‑held complying superannuation fund

 (1) For the purposes of this Act, a fund is a widely‑held complying superannuation fund if:
 (a) it is not an excluded superannuation fund (within the meaning of the Superannuation Industry (Supervision) Act 1993); and
 (b) it satisfies the test in either subsection (2) or (3).

Resident funds

 (2) A fund satisfies the test in this subsection at a particular time during a year of income of the fund (within the meaning of the Income Tax Assessment Act 1936) if it is a complying superannuation fund for the purposes of Part IX of that Act in relation to the year of income.

Non‑resident funds

 (3) A fund satisfies the test in this subsection if:
 (a) it is a superannuation fund (within the meaning of the Superannuation Industry (Supervision) Act 1993); and
 (b) it is a non‑resident superannuation fund (within the meaning of the Income Tax Assessment Act 1936); and
 (c) it is established for the sole or principal purpose of providing retirement benefits for its members; and
 (d) it complies with the applicable laws of a foreign country that regulate funds established for that purpose.