71BExceptions—pre‑11 August 1999 leases and lease arrangements

#### 71B Exceptions—pre‑11 August 1999 leases and lease arrangements (1) If: (a) at any time (the post‑test time) after the test time, an asset of a superannuation fund consists of an asset subject to a lease, or a lease arrangement, between a trustee of the fund and a related party of the fund; and (b) the asset was subject to a lease or lease arrangement, or any uninterrupted sequence of leases and lease arrangements, between a trustee of the fund and a related party, throughout the period beginning immediately before the test time and ending at the post‑test time; and (c) apart from this section, 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. (2) For the purposes of subsection (1), if: (a) before the test time, a lease or a lease arrangement enforceable by legal proceedings, in respect of an asset, was entered into between a trustee of a superannuation fund and a related party of the fund; and (b) the lease or lease arrangement came into force after the test time; the asset is taken to have been subject to a lease or a lease arrangement, between a trustee of the fund and that related party, immediately before the test time.