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FAIR WORK ACT 2009 - SECT 23A

Terms relating to superannuation

  (1)   MySuper product has the meaning given by the Superannuation Industry (Supervision) Act 1993 .

  (1A)   A standard MySuper product is a MySuper product that is not an employer MySuper product.

  (1B)   An employer MySuper product is a tailored MySuper product or a corporate MySuper product.

  (2)   A tailored MySuper product is a MySuper product in relation to which section   29TB of the Superannuation Industry (Supervision) Act 1993 is satisfied.

  (3)   A corporate MySuper product is a MySuper product that is offered by a superannuation fund that:

  (a)   is a standard employer - sponsored fund (within the meaning of the Superannuation Industry (Supervision) Act 1993 ); and

  (b)   is not a public offer superannuation fund (within the meaning of that Act); and

  (c)   has:

  (i)   one standard employer - sponsor (within the meaning of that Act); or

  (ii)   2 or more standard employer - sponsors (within the meaning of that Act) that are associates of each other for the purposes of that Act.

  (4)   A reference in this Act to a superannuation fund doing a thing in relation to a matter (for example, offering a MySuper product or making an application or submission) is a reference to the RSE licensee (within the meaning of the Superannuation Industry (Supervision) Act 1993 ) of the fund doing that thing.


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