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SUPERANNUATION INDUSTRY (SUPERVISION) ACT 1993 - SECT 16

Definitions associated with employer - sponsorship

Employer - sponsor

  (1)   An employer - sponsor of a regulated superannuation fund is an employer who:

  (a)   contributes to the fund; or

  (b)   would, apart from a temporary cessation of contributions, contribute to the fund;

for the benefit of:

  (c)   a member of the fund who is an employee of:

  (i)   the employer; or

  (ii)   an associate of the employer; or

  (d)   the dependants of such a member in the event of the death of the member.

Standard employer - sponsor

  (2)   If an employer so contributes, or would contribute, wholly or partly pursuant to an arrangement between the employer and a trustee of the regulated superannuation fund concerned, the employer is a standard employer - sponsor of the fund (as well as being an employer - sponsor of the fund). If the employer only so contributes, or would contribute, pursuant to arrangements between the employer and a member or members of the fund, the employer is not a standard employer - sponsor.

Employer - sponsored fund

  (3)   An employer - sponsored fund is a regulated superannuation fund that has at least one employer - sponsor.

Standard employer - sponsored fund

  (4)   If a regulated superannuation fund has at least one standard employer - sponsor, the fund is a standard employer - sponsored fund (as well as being an employer - sponsored fund).

Standard employer - sponsored member

  (5)   A standard employer - sponsored member is a member of a regulated superannuation fund in respect of whom an employer - sponsor contributes, or would contribute, as mentioned in subsection   (1) wholly or partly pursuant to an arrangement between the employer - sponsor and a trustee of the fund.


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