Ignore members who cannot transfer to a continuing fund (5) For the purposes of subsections (3) and (4), ignore an individual who remains a member of a superannuation fund or *complying approved deposit fund because of circumstances *complying beyond the control of the trustee of that fund. Original fund’s assets include units in a pooled superannuation trust (1) A trustee of a superannuation trust (the transferring entity) *pooled can choose to transfer losses if an is made for which *arrangement the conditions in this section are satisfied. Units in the trust were held by the original fund (2) The first condition is satisfied if, just before the was *arrangement made, units in the transferring entity were held by: (a) a superannuation fund (the or original fund); *complying (b) a approved deposit fund (the original fund). *complying Note: Other entities may also choose under this Subdivision to transfer losses, for the same arrangement, if the original fund holds other assets. Original fund’s members transfer to a continuing fund (3) The second condition is satisfied if, under the *arrangement: (a) the original fund ceases to have any members (within the meaning of the Superannuation Industry (Supervision) Act at a particular time (the and 1993) completion time); (b) the individuals who cease to be members (within the meaning of that Act) of the original fund become members (within the meaning of that Act) of one or more *complying superannuation funds (the continuing funds). Continuing funds will usually not be able to be small funds (4) The third condition is satisfied if either:
Ignore members who cannot transfer to a continuing fund (5) For the purposes of subsections (3) and (4), ignore an individual who remains a member of a *complying superannuation fund or *complying approved deposit fund because of circumstances beyond the control of the trustee of that fund. Original fund’s assets include units in a pooled superannuation trust (1) A trustee of a *pooled superannuation trust (the transferring entity) can choose to transfer losses if an *arrangement is made for which the conditions in this section are satisfied. Units in the trust were held by the original fund (2) The first condition is satisfied if, just before the *arrangement was made, units in the transferring entity were held by: (a) a *complying superannuation fund (the original fund); or (b) a *complying approved deposit fund (the original fund). Note: Other entities may also choose under this Subdivision to transfer losses, for the same arrangement, if the original fund holds other assets. Original fund’s members transfer to a continuing fund (3) The second condition is satisfied if, under the *arrangement: (a) the original fund ceases to have any members (within the meaning of the Superannuation Industry (Supervision) Act 1993) at a particular time (the completion time); and (b) the individuals who cease to be members (within the meaning of that Act) of the original fund become members (within the meaning of that Act) of one or more *complying superannuation funds (the continuing funds). Continuing funds will usually not be able to be small funds (4) The third condition is satisfied if either:
Income_Tax_Assessment_Act_1997_Super_Extract-1.docx