Commonwealth Numbered Acts

FIRST HOME SAVER ACCOUNTS ACT 2008 (NO. 44, 2008) - SECT 118

                   The requirement in paragraph 123(1)(b) of the Superannuation Industry (Supervision) Act 1993 is satisfied in relation to a person who is the custodian of an FHSA trust if:

                     (a)  the person satisfies the requirement in that paragraph in relation to the person's duties as the custodian of a superannuation entity, because of an approved guarantee; and

                     (b)  the trustee of the FHSA trust is also entitled to the benefit of the approved guarantee in respect of the due performance of the person's duties as custodian of the FHSA trust.