Commonwealth Numbered Acts

SUPERANNUATION INDUSTRY (SUPERVISION) ACT 1993 No. 78, 1993 - SECT 5

5.(1) The following superannuation entities are involved:
  complying superannuation fund             eligibility for

  complying approved deposit fund           concessional

  pooled superannuation trust               taxation treatment
Complying superannuation fund

(2) The complying superannuation fund requirements may be summarised as
follows:
Complying superannuation fund
  regulated superannuation fund             +    compliance with Act

fund is a superannuation fund
                 +                                     basically:

  trustee is constitutional corporation          - operating standards

                OR                               - governing rules

  fund is age-pension provider                   - borrowing rules

                 +                               - lending rules

  election to be subject to Act                  - in-house asset rules

- equal representation
rules
- accounting requirements
- trustee, investment
manager, actuary and
auditor standards
- public offer
requirements Complying approved deposit fund

(3) The complying approved deposit fund requirements may be summarised as
follows:
Complying approved deposit fund
approved deposit fund
  fund receives ETPs on deposit        +         compliance with Act

+
  trustee is constitutional                           basically:

  corporation                                    - operating standards

           +                                     - governing rules

  trustee has been approved                      - borrowing rules

- accounting requirements
- trustee, investment
manager, actuary and
auditor standards
- public offer
requirements Pooled superannuation trust

(4) The pooled superannuation trust requirements may be summarised as follows:
Pooled superannuation trust
  pooled superannuation trust        +           compliance with Act

trust meets prescribed
  requirements                                        basically:

           +                                     - operating standards

  trustee is constitutional                      - governing rules

  corporation                                    - borrowing rules

- lending rules
- accounting requirements
- trustee, investment
manager, actuary and
auditor standards
- public offer
requirements