Superannuation Industry (Supervision) Amendment Regulations 1999 (No. 5) (Cth)

Superannuation Industry (Supervision) Amendment Regulations 1999 (No. 5)

Statutory Rules 1999 No. 317

I, WILLIAM PATRICK DEANE, Governor-General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following Regulations under theSuperannuation Industry (Supervision) Act 1993.

Dated 8 December 1999.

WILLIAM DEANE

Governor-General

By His Excellency’s Command,

C. R. KEMP

Assistant Treasurer

Superannuation Industry (Supervision) Amendment Regulations 1999 (No. 5)1

Statutory Rules 1999 No. 3172

made under the

Superannuation Industry (Supervision) Act 1993

   

Contents

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1Name of Regulations

 These Regulations are the Superannuation Industry (Supervision) Amendment Regulations 1999 (No. 5).

2Commencement

 These Regulations commence on gazettal.

3Amendment of Superannuation Industry (Supervision) Regulations 1994

Schedule 1 amends the Superannuation Industry (Supervision) Regulations 1994.

Schedule 1Amendments

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(regulation 3)

[1]Subregulation 1.03A (3), note, paragraph (b)

omit

regulation 11.08

insert

regulation 5 of the Superannuation (Unclaimed Money and Lost Members) Regulations 1999

[2]Subparagraphs 5.17 (1) (b) (i) and (ii)

substitute

• (i)

  the member:

  • (A)

    is a lost member at the end of a member reporting period, or at an earlier time chosen by the trustee that is within that period; or

  • (B)

    joins the fund as a lost member; and

• (ii)

  90 days have elapsed since the relevant time mentioned in subparagraph (i); and

[3]Paragraph 5.17 (3) (b)

omit everything before sub-subparagraph (ii) (B), insert

• (b)

  in the case of a lost member:

  • (i)

    if the member joins the fund as a lost member — the member is lost at any time in the member reporting period; or

  • (ii)

    in any other case, the period is:

    • (A)

      the first member reporting period beginning after the relevant time mentioned in subparagraph (1) (b) (i); or

[4]Regulation 11.08

omit

Notes

1. These Regulations amend Statutory Rules 1994 No. 57, as amended by 1994 Nos. 189 and 432; 1995 Nos. 47, 64, 142, 158, 159, 240, 293, 384 and 430; 1996 Nos. 44, 57, 122 and 344; 1997 Nos. 69, 117, 152, 153, 221, 243, 293, 309, 343 and 415; 1998 Nos. 76, 83, 108, 175, 177, 193, 240 and 312; 1999 Nos. 14, 31, 115 and 239.

2. Made by the Governor-General on 8 December 1999, and notified in the Commonwealth of Australia Gazette on 15 December 1999.