Member

There remain significant and, in my view, unnecessary barriers to superfunds reaching that scale. These include the PPF levy, the wind-up trigger, the gateway test requiring schemes to demonstrate that buyout is unaffordable, the requirement for the capital adequacy threshold to be met immediately following a transaction —even when other safeguards already apply—and the restriction on active members, which is addressed by Amendment 181. Taken together, these constraints are stunting the market before it has the chance to mature.