Commonwealth Numbered Regulations

1994 No. 57 SUPERANNUATION INDUSTRY (SUPERVISION) REGULATIONS - REG 2.33

Meaning of "event" in subregulations (2) and (3)
2.33. (1) For the purposes of subregulations (2) and (3), "event" means:

   (a)  an event referred to in regulation 2.35; or

   (b)  a change in the governing rules of a kind referred to in subregulation
        2.36 (1); or

   (c)  a transfer of a member referred to in subregulation 2.36 (3); or

   (d)  the receipt of a notice of non-compliance referred to in subregulation
        2.36 (4).

General rule

(2) The time within which the trustee of a fund must give information under
this Division about an event to a member or class of members is:

   (a)  before the expected occurrence, or as soon as practicable after the
        occurrence, of the event; and

   (b)  in any case, within 3 months after the occurrence of the event.

Where event not adverse, etc.

(3) Despite subregulation (2), the information may be given more than 3 months
after the occurrence of the event if:

   (a)  the trustee reasonably believes that the event is not adverse to the
        member's interests and accordingly the member would not be expected to
        be concerned about the delay in giving the information; and

   (b)  the information is given no later than 12 months after the occurrence
        of the event.

Meaning of "event" in subregulation (5)
(4) For the purposes of subregulation (5), "event" means:

   (a)  a decision of the trustee; or

   (b)  the winding-up or termination of the fund; whichever is applicable.

Where a member would expect to be informed before the event

(5) Where a member would reasonably expect to be informed of an event before
it occurs, the trustee must give the information to the member as soon as
practicable after it becomes reasonable for the trustee to expect that the
event will happen (except that the information need not be given more than 3
months before the expected date of the event). (Examples: 1. On 1 December
1996 it is proposed to wind up the fund with effect from 30 June 1997.
Generally the information must be given as soon as practicable after 1
December 1996. However it may be delayed to 31 March 1997.
2. On 1 December 1996 it is proposed to wind up the fund with effect from 31
December 1996. The information must be given without delay.)