Commonwealth Consolidated Regulations

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CORPORATIONS REGULATIONS 2001 - REG 7.9.39

Benefits determined by life insurance products

             (1)  Paragraphs 7.9.37(1)(e), (f) and (g) do not apply to funds from which the benefits paid to each member are wholly determined by reference to life insurance products.

             (2)  If:

                     (a)  subregulation (1) does not apply only because shares in the life insurance company issuing the life insurance products were acquired because the company was demutualised; and

                     (b)  the shares have been held for not more than 18 months after the date of acquisition;

paragraphs 7.9.37(1)(e), (f) and (g) do not apply to funds from which the benefits paid to each individual member would otherwise be wholly determined by reference to life insurance products.

             (3)  If subregulation (1) or (2) applies, the fund information must include the reason why the information for paragraphs 7.9.37(1)(e), (f) and (g) has not been given.



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