Commonwealth Numbered Regulations

SUPERANNUATION INDUSTRY (SUPERVISION) AMENDMENT REGULATIONS 2004 (NO. 11) 2004 NO. 404 - SCHEDULE 2

(regulation 3)

[1] Sub-subparagraph 1.05 (2) (f) (ii) (A)

after

life expectancy on the commencement day

insert

, rounded up to the next whole number,

[2] Sub-subparagraph 1.06 (2) (e) (ii) (A)

after

life expectancy on the commencement day

insert

, rounded up to the next whole number,

[3] After paragraph 1.07C (2) (b)

insert

(ba)

for a commutation in part — the account balance of the annuity or pension, immediately after the commutation in part, would be equal to or would exceed the total payment amount calculated in accordance with Schedule 6, as reduced by the amount of income payments already made in the financial year in which the commutation in part would occur; or