Document ID: chunk:federal_register_of_legislation:C2025C00029:section:3:p72
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 3 (pt 72/79)
Character Range: 5020816–5023622

that time in its accounts for liability for income tax in respect of those assets;
the company can transfer, to the *complying superannuation asset pool, assets of any kind having a total transfer value not exceeding the difference.
 (4) A transfer under subsection (3) is taken to have been made at the *valuation time if it is made within the period of 30 days starting immediately after:
 (a) the day on which the total *transfer value and the *complying superannuation liabilities (as at the valuation time) were calculated; or
 (b) if those amounts were calculated on different days—the later of those days.

320‑185  Transfer of assets to complying superannuation asset pool otherwise than as a result of a valuation under section 320‑175
 (1) If a *life insurance company determines, at a time other than a *valuation time, that the total *transfer value of the company's *complying superannuation assets as at that time is less than the sum of:
 (a) the company's *complying superannuation liabilities as at that time; and
 (b) any reasonable provision made by the company at that time in its accounts for liability for income tax in respect of those assets;
the company can transfer, to the *complying superannuation asset pool, assets of any kind having a total transfer value not exceeding the difference.
 (2) A *life insurance company can at any time transfer an asset of any kind to a *complying superannuation asset pool in exchange for an amount of money equal to the *transfer value of the asset at the time of the transfer.
 (3) A *life insurance company can transfer to a *complying superannuation asset pool in an income year assets of any kind having a total *transfer value not exceeding the total amount of the *life insurance premiums paid to the company in that income year for the purchase of *complying superannuation life insurance policies.
 (4) Except as provided by this section and subsections 320‑180(3) and 320‑250(1A), a *life insurance company cannot transfer an asset to a *complying superannuation asset pool.

320‑190  Complying superannuation liabilities
 (1) The amount of the *complying superannuation liabilities of a *life insurance company is to be worked out in accordance with subsection (2) in respect only of *life insurance policies issued by the company:
 (a) that are *complying superannuation life insurance policies; and
 (b) the liabilities under which are to be discharged out of the company's *complying superannuation assets.
 (2) The amount of the complying superannuation liabilities of a *life insurance company at a particular time is the sum of the following amounts at that time, as calculated by an *actuary:
 (a) for policies providing for *participating benefits or *discretionary benefits:
 (i) the values of supporting assets, as defined