Commonwealth Consolidated Acts

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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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