Awan Hammad

    Hi Mark

    I assume it is a material investment to the Fund.

    On an overall basis I do not have an issue with this if the documentation supports that the investment is held in trust for the Fund. I would raise it as a matter of concern for the trustees attention in your management letter.

    Relevant sections of SIS to also consider are:

    1) Section 109 – investment made on an arm’s length / commercial basis.

    2) SIS Reg 4.09 – assets of the SMSF must be held separately from any assets held by the trustee personally.

    You would need to consider other parts of SIS such as the sole purpose test, in-house asset rules & the investment strategy requirements.




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