69ASub‑funds to be treated as funds

#### 69A Sub‑funds to be treated as funds A sub‑fund within a regulated superannuation fund is taken for the purposes of this Part to be a regulated superannuation fund if the sub‑fund satisfies the following conditions: (a) the sub‑fund has separately identifiable assets and separately identifiable beneficiaries; and (b) the interest of each beneficiary of the sub‑fund is determined by reference only to the conditions governing that sub‑fund.