Commonwealth Consolidated Regulations

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CORPORATIONS REGULATIONS 2001 - REG 7.9.07N

Definitions

                   In this Subdivision:

lifecycle exception has the meaning given by subsection 29TC(2) of the SIS Act.

lifecycle MySuper product means a MySuper product to which a lifecycle exception applies.

lifecycle stage , of a MySuper product offered by a regulated superannuation fund, means a subclass of members of the fund who hold the MySuper product, determined on the basis of:

                     (a)  age; or

                     (b)  age and the factors mentioned in regulation 9.47 of the SIS Regulations.

offering period means:

                     (a)  for a MySuper product other than a lifecycle MySuper product:

                              (i)  if the MySuper product has been offered for less than 10 financial years and there is no predecessor product--the number of whole financial years for which the product has been offered; or

                             (ii)  if the MySuper product and a predecessor product have been offered for a total of less than 10 financial years--the number of whole financial years for which the products have been offered; or

                     (b)  for a lifecycle stage of a lifecycle MySuper product:

                              (i)  if the lifecycle stage of the MySuper product has been offered for less than 10 financial years and there is no equivalent lifecycle stage of a predecessor product--the number of whole financial years for which the lifecycle stage has been offered; or

                             (ii)  if the lifecycle stage of the MySuper product and an equivalent lifecycle stage of a predecessor product have been offered for a total of less than 10 financial years--the number of whole financial years for which the lifecycle stage of the MySuper product and the predecessor product have been offered.

                   predecessor product , in relation to a MySuper product, means a default investment option in existence on 30 June 2013 in relation to which, if a member's accrued default amount were attributed to the MySuper product, the RSE licensee would be exempted from disclosure requirements under subregulation 9.46(2) of the SIS Regulations.

                   reporting standard means a reporting standard determined by APRA under subsection 13(1) of the Financial Sector (Collection of Data) Act 2001 , as in force from time to time.



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