Commonwealth Numbered Regulations

1995 No. 159 SUPERANNUATION INDUSTRY (SUPERVISION) REGULATIONS (AMENDMENT) - REG 41

41.1 Subregulation 11.08 (1): Omit "subregulation (2)", substitute
"subregulation (3)".

41.2 Subregulation 11.08 (3): Omit the subregulation, substitute:

"(3) The trustee of a fund must give to the Commissioner, on or before the
dates set out in subregulation (3A), for each half-year of the fund a
statement setting out the most recent information, of the kinds set out in
subregulation (4), that the trustee has regarding:

   (a)  each lost member of the fund who became reportable (unless the member
        ceased to be a member of the fund, or ceased to be lost) during the
        half-year; and

   (b)  each member of the fund previously reported under paragraph (a) who
        ceased to be a lost member of the fund during the half-year.

"(3A) The dates are:

   (a)  in relation to a half-year of the fund that ends on 30 June in a
        calendar year-31 October in that calendar year; and

   (b)  in relation to a half-year of the fund that ends on 31 December in a
        calendar year-30 April in the following calendar year.".

41.3 Subregulation 11.08 (4): Omit the subregulation, substitute:

"(4) The information regarding each member is:

   (a)  in the case of a member who became reportable during the half year:

        (i)    the member's name, date of birth, contact details and sex; and

        (ii)   the fund's name, contact details and fund number; and

        (iii)  the name and contact details of the member's employer last
               known to the trustee;

        (iv)   a statement to the effect that the member has become a lost
               member; and

        (v)    a statement of the amount of the member's withdrawal benefits
               at the date on which he or she became reportable; and

        (vi)   if the Commissioner requests in writing from the fund, in the
               half-year, information that the Commissioner reasonably
               believes may assist the Commissioner in administering the
               register of lost members-that information; and

   (b)  in the case of a member who ceased to be a lost member during the half
        year:

        (i)    a statement to that effect; and

        (ii)   the member's name, date of birth, and sex; and

        (iii)  the fund's name, contact details and fund number; and

        (iv)   if the Commissioner requests in writing from the fund, in the
               half-year, information that the Commissioner reasonably
               believes may assist the Commissioner in administering the
               register of lost members-that information; and

        (v)    if the trustee so chooses-any other information referred to in
               paragraph (a).".

41.4 After subregulation 11.08 (5), insert:

"(5A) For the purposes of this regulation, if a lost member of a fund ceases
to be a lost member during a member reporting period or exit reporting period,
the trustee may decide that the member is to be taken to continue to be a lost
member until the end of that member reporting period or exit reporting
period.".