71AExceptions—pre‑11 August 1999 investments and loans

#### 71A Exceptions—pre‑11 August 1999 investments and loans (1) If: (a) at any time (the post‑test time) after the test time, an asset of a superannuation fund consists of: (i) a loan or an investment made before the test time, or made after the test time under a contract entered into before the test time; or (ii) a share or unit in a unit trust, if the share, or the unit, as the case requires, was acquired before the test time or under a contract entered into before the test time (notwithstanding any payments on the share or unit made to the issuer of the share or unit after the test time and before 1 July 2009); and (b) if the asset was an asset of the fund immediately before the test time—it was not an in‑house asset of the fund; and (c) if the asset was not an asset of the fund immediately before the test time—it would not have been an in‑house asset if it had been an asset of the fund immediately before the test time; and (d) apart from this Subdivision, the asset would be an in‑house asset of the fund at the post‑test time; the asset is not an in‑house asset of the fund at the post‑test time. Payments on partly paid shares and units after 30 June 2009 (2) However, if: (a) the post‑test time is after 30 June 2009; and (b) the asset consists of a share or a unit in a unit trust; and (c) one or more payments on the share or unit to the issuer of the share or unit has been made since 30 June 2009; then: (d) the asset is an in‑house asset of the fund at the post‑test time; and (e) subsection (3) applies to the share or unit. Reduced value for the purposes of working out value of in‑house assets (3) For the purposes of working out the formula component Number of whole dollars in value of in‑house assets of the fund under section 75 at the post‑test time, the value of the share or unit at the post‑test time is taken to be the number of whole dollars in the amount worked out as follows:  where: > excess amount means the total of the amounts that, as at the post‑test time, had been paid after 30 June 2009 on the share or unit to the issuer of the share or unit. > market value of share or unit means the market value of the share or unit as at the post‑test time. > total amount means the total of the amounts that, as at the post‑test time had been paid (whether before or after 30 June 2009) on the share or unit to the issuer of the share or unit.