Commonwealth Numbered Regulations

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SUPERANNUATION INDUSTRY (SUPERVISION) REGULATIONS 1994


TABLE OF PROVISIONS

   1.01.   Citation  
   1.02.   Commencement  
   1.03.   Interpretation  
   1.04.   Section 10 of the Act-prescribed matters  
   2.01.   Interpretation  
   2.02.   Scope and application of this Part  
   2.03.   Duties and requirements arising under this Part  
   2.04.   Reasonable efforts are sufficient  
   2.05.   Missing members  
   2.06.   Charges for information requested  
   2.07.   Trustee may make a sub-plan  
   2.08.   Application  
   2.09.   Subdivision 3A of Part 19 of the Act  
   2.10.   Information to prospective members  
   2.11.   Information by public offer superannuation funds to prospective standard employer-sponsors  
   2.12.   Application  
   2.13.   Time for compliance  
   2.14.   Requirement taken to have been met  
   2.15.   General requirement  
   2.16.   Specific requirements in all cases  
   2.17.   Interpretation  
   2.18.   Application  
   2.19.   Reporting periods  
   2.20.   Application in relation to reporting period  
   2.21.   Time for compliance  
   2.22.   General requirement  
   2.23.   Specific requirements in all cases  
   2.24.   Specific requirements in particular cases  
   2.25.   Exception-pensioners  
   2.26.   Exception-certain cases of members leaving fund  
   2.27.   General requirement  
   2.28.   Specific requirements in all cases  
   2.29.   Specific requirements in particular cases  
   2.30.   Excluded funds-special provision  
   2.31.   Exception-benefits determined by life policies  
   2.32.   Application  
   2.33.   Time for compliance  
   2.34.   Contact details to accompany information  
   2.35.   General requirement  
   2.36.   Specific requirements  
   2.37.   Application  
   2.38.   Documents may be made available for inspection  
   2.39.   Time for compliance  
   2.40.   General requirement  
   2.41.   Specific requirements  
   2.42.   Application  
   2.43.   Time for compliance  
   2.44.   Exit reporting period  
   2.45.   General requirement  
   2.46.   Specific requirements in all cases  
   2.47.   Specific requirements in particular cases  
   2.48.   Exceptions to "exit reporting period" provisions  
   2.49.   Application  
   2.50.   Operating standards  
   2.51.   Statement of particulars must accompany information  
   2.52.   Subdivision 3A of Part 19 of the Act  
   2.53.   Information by a trustee of a PST for prospective unit-holders  
   2.54.   Interpretation  
   2.55.   Reporting periods  
   2.56.   Application in relation to reporting period  
   2.57.   Time for Compliance  
   2.58.   Exemption from giving information  
   2.59.   General requirement  
   2.60.   Specific requirements in all cases  
   2.61.   Specific requirements in particular cases  
   2.62.   Time for compliance  
   2.63.   Information concerning significant events  
   2.64.   Information concerning notice of non-compliance  
   2.65.   Information when a person ceases to be a unit-holder  
   2.66.   Persons ceasing to be unit-holders  
   2.67.   Exceptions to reporting requirement where person ceases to be unit-holder  
   3.01.   Public offer superannuation fund-prescribed persons  
   3.02.   Application for approval of trustees  
   3.03.   Deciding an application for approval  
   3.04.   Section 54 of the Act-prescribed percentages  
   3.05.   Policy committees-sections 91, 92 and 93 of the Act  
   3.06.   Policy committees-functions (paragraphs 91 (3) (b), 92 (3) (b) and 93 (3)(b) of the Act)  
   3.07.   Definition of policy committee in section 10 of the Act-matters specified for purposes of paragraph (a)  
   3.08.   Policy committees-duties of trustee  
   3.09.   Dissolution of policy committees  
   3.10.   Commission and brokerage  
   3.11.   Statements by experts-keeping of written consents  
   3.12.   Requirements concerning application money held on trust  
   4.01.   Covenants in governing rules of a superannuation entity-prescribed information and documents  
   4.02.   Covenants in governing rules of a superannuation entity-beneficiary investment choice  
   4.03.   Trustee of employer-sponsored fund-prescribed direction by employer-sponsor  
   4.04.   Governing rules of a superannuation entity-prescribed exercise of discretion by non-trustee  
   4.05.   Governing rules of a superannuation entity-prescribed circumstances of amendment  
   4.06.   Removal of member representatives-prescribed circumstances  
   4.07.   Removal of independent trustee or independent member-prescribed circumstances  
   4.08.   Operating standard-voting rule where equal representation applies  
   4.09.   Operating standard-investment strategy  
   4.10.   Operating standard-investment by non-complying superannuation funds  
   4.11.   Operating standard-investment by non-complying approved deposit funds  
   5.01.   Interpretation of this Part  
   5.02.   Determination of costs  
   5.03.   Investment return-funds which maintain reserves  
   5.04.   Minimum benefits-regulated superannuation funds  
   5.05.   Mandated employer contributions-regulated superannuation funds  
   5.06.   Certain benefits rolled over or transferred to regulated superannuation funds taken to be minimum benefits  
   5.07.   Minimum benefits-approved deposit funds  
   5.08.   How minimum benefits are to be treated  
   6.01.   Interpretation  
   6.02.   Preserved benefits in regulated superannuation funds-before the changeover day  
   6.03.   Preserved benefits in regulated superannuation funds-on and after the changeover day  
   6.04.   Preserved benefits in regulated superannuation funds-rollover or transfer between funds during 1996  
   6.05.   Preserved benefits in approved deposit funds  
   6.06.   Effect of rollover or transfer on preserved benefits  
   6.07.   Restricted non-preserved benefits in regulated superannuation funds-before the changeover day  
   6.08.   Restricted non-preserved benefits in regulated superannuation funds-on and after the changeover day  
   6.09.   Restricted non-preserved benefits in regulated superannuation funds-rollover or transfer between funds during 1996  
   6.10.   Unrestricted non-preserved benefits-regulated superannuation funds  
   6.11.   Unrestricted non-preserved benefits-approved deposit funds  
   6.12.   Movement of benefits between categories by satisfaction of conditions of release  
   6.13.   Effect of rollover or transfer on unrestricted non-preserved benefits  
   6.14.   Indexation  
   6.15.   Contributions and benefits taken to be preserved benefits  
   6.16.   Redistribution of member benefits within a fund in certain circumstances by operation of governing rules or action of trustee  
   6.17.   Restriction on payment  
   6.18.   Voluntary cashing of preserved benefits in regulated superannuation funds  
   6.19.   Voluntary cashing of restricted non-preserved benefits in regulated superannuation funds  
   6.20.   Voluntary cashing of unrestricted non-preserved benefits in regulated superannuation funds  
   6.21.   Compulsory cashing of benefits in regulated superannuation funds  
   6.22.   Limitation on cashing of benefits in regulated superannuation funds in favour of persons other than members  
   6.23.   Voluntary cashing of preserved benefits in approved deposit funds  
   6.24.   Voluntary cashing of unrestricted non-preserved benefits in approved deposit funds  
   6.25.   Compulsory cashing of benefits in approved deposit funds  
   6.26.   Limitation on cashing of benefits in approved deposit funds in favour of persons other than members  
   6.27.   Limitation on cashing benefits in approved deposit funds of less than $500  
   6.28.   Rollover-regulated superannuation funds and approved deposit funds  
   6.29.   Transfer-regulated superannuation funds  
   6.30.   Obligations of trustees  
   7.01.   Interpretation  
   7.02.   Application  
   7.03.   Restriction on accepting contributions or granting benefit accruals  
   7.04.   Acceptance of contributions-regulated superannuation funds  
   7.05.   Accrual of benefits-defined benefit funds  
   8.01.   Accounts-statement of financial position and financial statement  
   8.02.   Accounts and statements that must be prepared  
   8.03.   Audit certificate  
   9.01.   Interpretation  
   9.02.   Application  
   9.03.   Subsection 130 (1) of the Act etc-obligations of actuaries and auditors  
   9.04.   Subsection 130 (7) of the Act-unsatisfactory financial position  
   9.05.   Application  
   9.06.   Interpretation  
   9.07.   Prescription of standards  
   9.08.   Funding standard  
   9.09.   Funding and solvency certificates-operating standard  
   9.10.   Contents of funding and solvency certificates  
   9.11.   Effective date of funding and solvency certificates  
   9.12.   Period of effect of funding and solvency certificates  
   9.13.   Effect of notifiable events on funding and solvency certificates  
   9.14.   Further funding and solvency certificates to be obtained  
   9.15.   Minimum benefit index  
   9.16.   Non-compliance with solvency requirement-technical insolvency  
   9.17.   Technical insolvency-operating standard  
   9.18.   Technical insolvency program-special funding and solvency certificate  
   9.19.   Technical insolvency program-procedure  
   9.20.   Application  
   9.21.   Interpretation  
   9.22.   Prescription of standards  
   9.23.   Winding-up of defined benefit funds  
   9.24.   Alternative program approved by the Commissioner  
   9.25.   Winding-up proceedings-priorities  
   9.26.   Application  
   9.27.   Interpretation  
   9.28.   Prescription of standards  
   9.29.   Actuarial investigation standard  
   9.30.   Actuarial reporting standard  
   9.31.   Contents of actuarial report-private sector funds and fully funded public sector superannuation schemes  
   9.32.   Contents of actuarial report-public sector superannuation schemes that are not fully funded  
   9.33.   Content of actuarial report-newly established or converted funds  
   9.34.   Application  
   9.35.   Interpretation  
   9.36.   Prescription of standards-accumulation funds  
   9.37.   Accumulation funds solvency standard  
   9.38.   Technical insolvency of accumulation funds-operating standard  
   9.39.   Technical insolvency program for accumulation funds-procedure  
   9.40.   Application  
   9.41.   Interpretation  
   9.42.   Prescription of standards-winding-up of accumulation funds  
   9.43.   Winding-up of accumulation funds  
   9.44.   Alternative program approved by the Commissioner for an accumulation fund  
   9.45.   Accumulation fund winding-up proceedings-priorities  
   10.01.  Interpretation  
   10.02.  Eligible rollover funds-prescribed conditions  
   10.03.  Reports to members  
   10.04.  Prescribed information to be given to eligible rollover fund  
   10.05.  Prescribed information to be given to the Commissioner  
   10.06.  Operating standards-eligible rollover funds  
   11.01.  Interpretation  
   11.02.  Lodgment of annual returns by superannuation entity  
   11.03.  Prescribed period for giving information to the Commissioner (subsection 254(1))  
   11.04.  Prescribed information (subsection 254 (1))-regulated superannuation funds  
   11.05.  Prescribed information (subsection 254 (1))-approved deposit funds  
   11.06.  Prescribed information (subsection 254 (1))-PSTs  
   11.07.  Operating standard-disclosure of information to the Commissioner  
   11.08.  Eligible rollover funds  
   12.01.  Interpretation  
   12.02.  Pre-1 July 88 funding amounts  
   12.03.  Shortfall-in-assets amount-calculation  
   12.04.  Estimation of net market value of fund assets  
   12.05.  Value A of accrued benefits  
   12.06.  Value B of accrued benefits  
   12.07.  Calculation of value A or B of accrued benefits  
   12.08.  Date before which applications must be made  
   12.09.  Application fees  
   12.10.  Prescribed events for the purposes of paragraph 342 (4) (a) of the Act  
   12.11.  Time and manner in which prescribed events must be notified to the Commissioner  
   12.12.  Transfer of PJFCs-trustees of transferor funds  
   12.13.  Transfer of PJFCs-trustees of transferee funds  
   12.14.  Transfer of PJFCs-revocation of approval  
   12.15.  Transfer of PJFCs-requirements to be satisfied  
   12.16.  Notice of reviewable decisions and reasons for those decisions  
   12.17.  Reconsideration of certain decisions  
   12.18.  Review by Tribunal of reconsidered decisions  
   12.19.  Actuaries to certify in relation to determinations  
   12.20.  Substituted accounting periods  
   13.01.  Interpretation  
   13.02.  Application  
   13.03.  Operating standard-OSS provisions  
   13.04.  Transitional-Part 7  
   13.05.  - 13.10  
   13.11.  Interpretation  
   13.12.  Assignments of superannuation interests  
   13.13.  Charges over minimum or preserved benefits or non-commutable income stream  
   13.14.  Charges over assets of funds  
   13.15.  Restrictions on the standards  
   13.16.  Accrued benefits-restriction on alteration  
   13.17.  Loans etc. by trustees of approved deposit funds  
   13.18.  Sole purpose test-specified age  
   13.19.  Custodians of superannuation entities-specified amounts  
   13.20.  Advertisement of scheme for winding-up or dissolution of superannuation entity  
   13.21.  Report of inspector-prescribed agencies  
   13.22.  Statements made at an examination-manner of authentication  
   13.23.  Superannuation Industry (Supervision) (Approval of Trustees) Regulations  
           SCHEDULE 1
           SCHEDULE 2
           SCHEDULE 3


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