Document ID: chunk:federal_register_of_legislation:C2025C00134:section:229
Version: federal_register_of_legislation:C2025C00134
Segment Type: section
Provision Reference: s 229
Character Range: 847523–848387

229  Application for assistance
 (1) If:
 (a) a fund suffers an eligible loss after the commencement of this Part; and
 (aa) at the time it suffers the loss, the fund is:
 (i) a regulated superannuation fund (other than a self managed superannuation fund); or
 (ii) an approved deposit fund; and
 (b) the loss has caused substantial diminution of the fund leading to difficulties in the payment of benefits;
a trustee of the fund may apply to the Minister for a grant of financial assistance for the fund.
 (2) The application must be in writing and be accompanied by such information as the Minister determines.
 (3) To avoid doubt, an application may be made under this section by a trustee of a self managed superannuation fund as long as the fund met the requirements in subsection (1) at the time the fund suffered the loss to which the application relates.