South Australian Current Regulations South Australian Current Regulations (1) The Board may
offer to accept money from public sector superannuation beneficiaries or the
spouses of public sector superannuation beneficiaries for investment with the
Superannuation Funds Management Corporation of South Australia.
(2) The Board may, in
relation to a particular type of investment, offer to accept money only from
public sector superannuation beneficiaries, or the spouses of public sector
superannuation beneficiaries, who have received a benefit under a public
sector superannuation scheme.
(3) An offer will be
on terms and conditions determined by the Board following consultation with
the Corporation about matters relevant to the terms and conditions for which
the Corporation is responsible under the Superannuation Funds Management
Corporation of South Australia Act 1995 .
(4) Money accepted by
the Board under subregulation (1)—
(a) will
be held in a fund established by the Board for the purposes of this regulation
(the assets of which do not belong to the Crown); and
(b)
will, subject to the terms and conditions of the offer referred to in
subregulation (3), be invested by the Corporation in a manner determined
by it; and
(c) may,
if a public sector superannuation beneficiary so requests, be invested for the
benefit of the spouse of the beneficiary.
(5) The Corporation
may enter into transactions affecting that money—
(a) for
the purposes of investment; or
(b) for
purposes incidental, ancillary or otherwise related to investment.
(6) Money that may be
invested by public sector superannuation beneficiaries or their spouses under
this regulation is not limited to money received by the investor from a public
sector superannuation scheme.
(7) The Board may
deduct an administrative charge, to be fixed by the Board, from money accepted
under subregulation (1).
(8) The Board must, in
respect of each financial year—
(a) keep
proper accounts of receipts and payments in relation to money accepted by it
under this regulation; and
(b)
prepare financial statements in relation to those receipts and payments.