(1) The assets of a * complying superannuation fund are disregarded small fund assets at all times in an income year if the fund is covered by subsection (2) for the income year.
(2) A * complying superannuation fund is covered by this subsection for an income year if:
(a) any of these requirements are satisfied:
(i) the fund is a * self managed superannuation fund at a time during the income year;
(ii) there are less than 5 * members of the fund at a time during the income year; and
(b) at a time during the income year, there is at least one * superannuation interest in the fund that is in the * retirement phase; and
(c) just before the start of the income year:
(i) a person has a * total superannuation balance that exceeds $1.6 million; and
(ii) the person is the * retirement phase recipient of a * superannuation income stream (whether or not the fund is the * superannuation income stream provider for the superannuation income stream); and
(d) at a time during the income year, the person has a superannuation interest in the fund (whether or not the superannuation interest is the superannuation interest mentioned in paragraph (b)).