Commonwealth Numbered Regulations

1994 No. 57 SUPERANNUATION INDUSTRY (SUPERVISION) REGULATIONS - REG 13.16

13.16. (1) For the purposes of subsection 31 (1) of the Act, it is a standard
applicable to the operation of regulated superannuation funds that, subject to
subregulation (2), a member's right or claim to accrued benefits, and the
amount of those accrued benefits, must not be altered adversely to the member
by amendment of the governing rules or by any other act carried out, or
consented to, by the trustee of the fund.

(2) The standard stated in subregulation (1) does not apply to an alteration
if:

   (a)  in the case of an alteration that does not relate to minimum
        benefits-the member or the Commissioner has consented in writing to
        the alteration; or

   (b)  the alteration is necessary for compliance with the Act, the Tax Act
        or these Regulations.