First Home Saver Accounts - Consultation Paper
Authorised deposit-taking institution (ADI)
Authorised deposit-taking institutions (ADIs) are corporations which are authorised under the Banking Act 1959. ADIs include banks, building societies and credit unions.
A constitutional corporation is a trading or financial corporation (within the meaning of paragraph 51(xx) of the Constitution) formed within the limits of the Commonwealth.
Public-offer superannuation fund
A public-offer superannuation fund is described by the Superannuation Industry (Supervision) Act 1993 as a superannuation entity that offers superannuation interests to the public, usually on a commercial basis. This type of fund is:
- a regulated superannuation fund that is not a standard employer-sponsored fund;
- a standard employer-sponsored fund that has some non-standard employer-sponsored members;
- a standard employer-sponsored fund which has elected to become a public-offer fund; or
- a superannuation fund which APRA has declared to be a public- offer fund.
Registrable superannuation entity (RSE)
An RSE is a regulated superannuation fund, an approved deposit fund or a pooled superannuation trust. It does not include self-managed superannuation funds.