Occupational Superannuation Standards Regulations (Amendment) (Cth)

Statutory Rules 1989 No. 241

Occupational Superannuation Standards

Regulations2 (Amendment)

I, THE GOVERNOR-GENERAL of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, hereby make the following Regulations under the Occupational Superannuation Standards Act 1987.

Dated 22 February 1989.

BILL HAYDEN

Governor-General

By His Excellency’s Command,

Paul Keating

Treasurer

 

Commencement

1. These Regulations commence on 13 March 1989.

Principal Regulations

2. In these Regulations “Principal Regulations’’ means the Occupational Superannuation Standards Regulations.

Preservation standards—prescribed agreements or awards etc.

3. Regulation 9 of the Principal Regulations is amended by adding at the end the following paragraph:

“(c) in relation to each member of a superannuation fund who is an eligible person in relation to a year of income for the purposes of Subdivision AB of Division 3 of Part III of the Tax Act, the amount of any member-financed benefits that relate to contributions made to the fund during that year of income, being contributions made on or after 13 March 1989, shall be preserved.”.

Preservation and portability standards

4. Regulation 11 of the Principal Regulations is amended by inserting in paragraph (a) “that relate to the member” after “regulations 9 and 10”.

(S.R. 390/88)—Cat. No. 16/30.1.1989

 

NOTES

1. Notified in the Commonwealth of Australia Gazette on 2 March 1989.

2. Statutory Rules 1987 No. 322 as amended by 1988 No. 255

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