Superannuation Industry (Supervision) Amendment Regulations 2003 (No. 1) (Cth)

Superannuation Industry (Supervision) Amendment Regulations 2003 (No. 1)1

Statutory Rules 2003 No. 422

I, PETER JOHN HOLLINGWORTH, Governor-General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following Regulations under the Superannuation Industry (Supervision) Act 1993.

Dated 20 March 2003

PETER HOLLINGWORTH

Governor-General

By His Excellency’s Command

HELEN COONAN

Minister for Revenue and Assistant Treasurer

1Name of Regulations

These Regulations are the Superannuation Industry (Supervision) Amendment Regulations 2003 (No. 1).

2Commencement

These Regulations commence on gazettal.

3Amendment of Superannuation Industry (Supervision) Regulations 1994

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

Schedule 1Amendments

(regulation 3)

  

[1]Subregulation 6.01 (2), definition of eligible temporary resident visa

substitute

eligible temporary resident visa means a visa:

1. (a)

   of one of the subclasses mentioned in Schedule 1AB, within the meaning of Part 2 of Schedule 1 to the Migration Regulations 1994; and

2. (b)

   that is held by a person who is not a New Zealand citizen.

Note Some of the subclasses of visa mentioned in Schedule 1AB no longer exist. However, the subclasses remain relevant for regulations 6.20A, 6.20B and 6.24A.

[2]Subregulation 6.20A (3)

omit

If the member’s withdrawal benefit in the fund is at least $5 000, the trustee

insert

The trustee

[3]After subregulation 6.20A (3)

insert

1. (3A)

   For subregulation (3), the statement may be in electronic form.

[4]Subregulation 6.20B (3)

omit

If the member’s withdrawal benefit in the fund is at least $5 000, the trustee

insert

The trustee

[5]After subregulation 6.20B (3)

insert

1. (3A)

   For subregulation (3), the statement may be in electronic form.

[6]Subregulation 6.24A (3)

omit

If the member’s withdrawal benefit in the fund is at least $5 000, the trustee

insert

The trustee

[7]After subregulation 6.24A (3)

insert

1. (3A)

   For subregulation (3), the statement may be in electronic form.

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, 239, 317 and 356; 2000 Nos. 119, 151, 185, 280 and 281; 2001 Nos. 37, 352 and 353; 2002 Nos. 21, 91, 150, 171, 200 and 353.

2. Notified in the Commonwealth of Australia Gazette