29VEPercentage‑based administration fees may be capped

29VE Percentage‑based administration fees may be capped

If, under the governing rules of a regulated superannuation fund: (a) all or part of the administration fee in relation to a MySuper product is charged to those members of the fund who hold the product as a percentage of so much of the account balance of each of those members that relates to the MySuper product; and (b) the amount of the administration fee is capped at a specified amount; and (c) either: (i) the cap is the same for all of those members; or (ii) if the administration fee is charged at a reduced amount, in accordance with section 99G, in relation to one or more of those members—the cap is the same for all of the remainder of those members; and (d) but for the fact that the administration fee is capped in that way, a charging rule in section 29VA would be satisfied in relation to the administration fee; that charging rule is taken to be satisfied in relation to the administration fee.