Commonwealth Numbered Regulations

CORPORATIONS AMENDMENT REGULATIONS 2007 (NO. 1) (SLI NO 102 OF 2007) - SCHEDULE 1

(regulation 3)

[1]           Subregulation 1.0.02 (1), definition of eligible termination payment

omit

[2]           Subregulation 1.0.02 (1), definition of superannuation scheme

substitute

"superannuation lump sum" has the meaning given by subsection 995-1 (1) of the Income Tax Assessment Act 1997 .

"superannuation scheme" means a complying superannuation fund within the meaning of subsection 995-1 (1) of the Income Tax Assessment Act 1997 .

[3]           Subregulation 1.0.02 (1), definition of superannuation‑sourced money , subparagraph (a) (i)

omit

an eligible termination payment

insert

a superannuation lump sum

[4]           Subregulation 1.0.02 (1), definition of superannuation‑sourced money , subparagraph (a) (ii)

omit

paid in that way

insert

paid as an eligible termination payment (within the meaning of these Regulations as in force immediately before 1 July 2007) or as a superannuation lump sum

[5]           Subregulation 7.9.01 (1), definition of superannuation provider

substitute

"superannuation provider" means any of the following:

                (a)    the trustee of a complying superannuation fund, within the meaning of subsection 995‑1 (1) of the Income Tax Assessment Act 1997 ;

               (b)    the provider of an RSA, within the meaning of section 12 of the Retirement Savings Accounts Act 1997 ;

                (c)    the trustee of a constitutionally protected fund, within the meaning of subsection 995‑1 (1) of the Income Tax Assessment Act 1997 .