Commonwealth Numbered Acts Commonwealth Numbered Acts(1) The Superannuation Industry (Supervision) Act 1993 applies in accordance with subsection 114(2) with the modifications set out in this section.
(2) Insert at the beginning of paragraph 52(2)(f) of the Superannuation Industry (Supervision) Act 1993 "if paragraph (fa) does not apply--".
(3) Add at the end of paragraph 52(2)(f) of the Superannuation Industry (Supervision) Act 1993 the following subparagraph:
(v) the risk of capital losses in light of the purpose of the FHSA and the minimum term of the FHSA having regard to subparagraph 32(1)(c)(i) or (ii) of the First Home Saver Accounts Act 2008 ;
(4) Insert after paragraph 52(2)(f) of the Superannuation Industry (Supervision) Act 1993 the following paragraph:
(fa) if the FHSA provider allows individual FHSA holders to choose between investment options specified by the FHSA provider--to formulate and give effect to an investment strategy for each option having regard to the matters mentioned in subparagraphs 52(2)(f)(i), (ii), (iii), (iv) and (v);
(5) Omit subsection 52(4) of the Superannuation Industry (Supervision) Act 1993 .
(6) Treat the reference in subsection 55(5) of the Superannuation Industry (Supervision) Act 1993 to "an investment strategy formulated under a covenant referred to in paragraph 52(2)(f)" as including a reference to an investment option formulated under a covenant referred to in paragraph 52(2)(fa) of that Act (as it applies because of subsection (4) of this section).
(7) Replace paragraph 58(2)(d) of the Superannuation Industry (Supervision) Act 1993 with the following paragraph:
(d) a direction given by an FHSA holder by way of a choice mentioned in paragraph 52(2)(fa); or