Commonwealth Consolidated Acts

SUPERANNUATION INDUSTRY (SUPERVISION) ACT 1993 - SECT 73

  (1)   For the purposes of this Part, if:

  (a)   an asset of a superannuation fund was acquired:

  (i)   without consideration; or

  (ii)   for consideration other than the arm's length value of the asset when it was acquired; or

  (b)   the whole or a part of the consideration for which an asset of a superannuation fund was acquired was not money;

the cost of the asset is taken to be the arm's length value of the asset when it was acquired.

  (2)   In this section:

"arm's length value" , in relation to an asset, means the amount that the acquirer of the asset could reasonably be expected to have been required to pay to acquire the asset under a transaction where the parties to the transaction are dealing with each other at arm's length in relation to the transaction.