Schedule of conditions

The Fund must be and continue to be:

(a) recognised at law as being formed for religious and charitable purposes stated in a trust deed, ordinance or other foundation document governing the Fund (Fund constitution);
(b) limited to the purposes stated in the Fund constitution; and
(c) operated not-for-profit.

2. The Fund’s retail products must have the sole or dominant intention of furthering the religious and charitable purposes of the Fund.

3. A copy of the Fund constitution setting out the Fund’s religious and charitable purposes must be available for inspection on request by APRA.

4. Where a Fund offers, issues or sells a retail product to a retail investor:
(a) the retail product must have a minimum term or call period of 31 days; and
(b) subject to Condition 6, the retail investor must not be able to redeem any funds for 31 days from the date they are invested in the retail product.

5. When money held in a retail product that is issued or sold by a Fund to a retail investor reaches its 31 day maturity, the Fund must: