Document ID: chunk:federal_register_of_legislation:C2021A00046:clause:1_13
Version: federal_register_of_legislation:C2021A00046
Segment Type: clause
Provision Reference: sch 1 cl 13
Character Range: 9814–10721

13  Subsection 32C(2AB)
Repeal the subsection, substitute:

Contributions to certain successor funds
 (2AB) A contribution to a fund (the new fund) by an employer for the benefit of an employee is made in compliance with the choice of fund requirements if:
 (a) the employee's interest in the new fund was transferred to the new fund from another fund (the original fund) without the employee's consent; and
 (b) at the time of the most recent contribution before the transfer to the original fund by the employer for the benefit of the employee, the original fund was a fund:
 (i) to which subparagraph (2)(ba)(i) applies; or
 (ii) to which subparagraph (2)(ba)(ii) applies, or would have applied if the transfer had not occurred; or
 (iii) to which subsection (1A) applies; and
 (c) the new fund is a successor fund (within the meaning of the Income Tax Assessment Act 1997) in relation to the transfer.