From sladen.com.au: The court’s Bendel decision likely expands the definition of ‘loan’ under the Superannuation Industry (Supervision) Act (SIS Act), indicating it applies to situations involving an obligation to repay rather than mere creditor-debtor arrangements.

Section 65 of the SIS Act prohibits trustees of regulated super funds from lending money or providing financial assistance to members, and the Commissioner interprets this to include indirect financial assistance.

The Bendel decision challenges the Commissioner’s broad interpretation, suggesting that financial assistance should only apply to direct advancements of principal.