Statutory Rules
1980 No. 233
REGULATIONS UNDER THE SUPERANNUATION ACT 19761
I, THE GOVERNOR-GENERAL of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, hereby make the following Regulations under the Superannuation Act 1976.
Dated this fourteenth day of August 1980.
ZELMAN COWEN
Governor-General
By His Excellency’s Command,
ERIC L. ROBINSON
Minister of State for Finance
Amendments of the Superannuation (Investment) Regulations2
Interpretation
1. Regulation 3 of the Superannuation (Investment) Regulations is amended—
(a) by omitting the definition of “bank” in sub-regulation (1) and substituting the following definition:
“‘bank’ means —
(a) a bank as defined in sub-section 5 (1) of the Banking Act 1959; or
(b) a bank established by or under an Act of a State or the Northern Territory;”; and
(b) by adding at the end thereof the following sub-regulation:
“(3) A reference in paragraph 6 (b) to public securities shall be read as including a reference to bills of exchange that have been accepted or endorsed by a bank.”.
Investment of moneys
2. Regulation 6 of the Superannuation (Investment) Regulations is amended—
(a) by omitting “may be invested — ” and substituting “may be invested as follows, that is to say:”;
(b) by omitting from paragraph (e) “or”; and
(c) by adding at the end thereof the following paragraphs:
“(g) in a unit trust;
(h) in a leveraged lease transaction, being a transaction in which—
(i) the Trust, whether alone or in the company of others, lends moneys to a lessor or lessors on a non-recourse basis to enable the lessor or lessors to purchase property for leasing purposes; and
(ii) the security for the loan is the lessor’s rights under the lease, whether with or without any other security;
(j) in an interest, other than shares or debentures, whether issued by a company or any other person, that entitles the Trust to an interest in the assets, or a share in the profits, or both, of a financial or business undertaking or scheme.”.
NOTES
1. Notified in the Commonwealth of Australia Gazette on 18 August 1980.
2. Statutory Rules 1976 No. 125 as amended by Statutory Rules 1979 No. 89.