Commonwealth Numbered Regulations

1995 No. 64 SUPERANNUATION INDUSTRY (SUPERVISION) REGULATIONS (AMENDMENT) - REG 23

23.1 Omit the Regulation, substitute: Operating standards-eligible rollover
funds

"10.06. (1) For the purposes of subsections 31 (1) and 32 (1) of the Act, a
requirement of this Division is a standard applicable (in addition to other
standards applicable under these Regulations) to the operation of an eligible
rollover fund.



"(2) The trustee of an eligible rollover fund must accept payment of:

   (a)  benefits (other than pension benefits) paid from a superannuation fund
        (other than an eligible rollover fund) or an approved deposit fund
        (other than an eligible rollover fund); and

   (b)  shortfall components.



"(3) The trustee of an eligible rollover fund must treat:

   (a)  every member of the fund as a protected member at all times; and

   (b)  the whole of the benefits of every member as minimum benefits at all
        times.".