Superannuation Industry (Supervision) Amendment Regulations 2004 (No. 1) (Cth)

Superannuation Industry (Supervision) Amendment Regulations 2004 (No. 1)1

Statutory Rules 2004 No. 122

I, PHILIP MICHAEL JEFFERY, 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 19 February 2004

P. M. JEFFERY

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 2004 (No. 1).

2Commencement

These Regulations commence on the date of their notification in the Gazette.

3Amendment of Superannuation Industry (Supervision) Regulations 1994

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

Schedule 1Amendments

(regulation 3)

  

[1]Subregulation 1.03 ( 1), after definition of child contributions

insert

Co-contribution Act means the Superannuation (Government Co-contribution for Low Income Earners) Act 2003.

[2]Subregulation 5.01 (1), after definition of deferred annuity

insert

Government co-contribution benefits means Government co‑contributions made under the Co-contribution Act less the costs applicable to them.

[3]Paragraph 5.04 (2) (b)

omit

benefits.

insert

benefits; and

[4]After paragraph 5.04 (2) (b)

insert

1. (c)

   Government co-contribution benefits and any investment earnings on them.

[5]Subparagraph 5.04 (3) (b) (ii)

omit

benefits.

insert

benefits; and

[6]After subparagraph 5.04 (3) (b) (ii)

insert

1. (iii)

   Government co-contribution benefits and any investment earnings on them.

[7]Paragraph 7.04 (1) (d)

omit

split.

insert

split; or

[8]Subparagraph 7.04 (1) (f) (ii)

omit

offset.

insert

offset; or

[9]After paragraph 7.04 (1) (f)

insert

1. (g)

   the contributions are made as Government co‑contributions under the Co-contribution Act.

[10]Subparagraph 7.05 (1) (f) (ii)

omit

offset.

insert

offset; or

[11]After paragraph 7.05 (1) (f)

insert

1. (g)

   the accrual is attributable to Government co-contributions under the Co-contribution Act.

[12]Subparagraph 13.16 (2) (f) (ii)

omit

Family Law (Superannuation) Regulations 2001.

insert

Family Law (Superannuation) Regulations 2001; or

[13]After paragraph 13.16 (2) (f)

insert

1. (g)

   the alteration enables the trustee to be reimbursed for an amount paid, or to be paid, under section 24 of the Co‑contribution Act.

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; 2003 Nos. 42, 170, 171, 196 (disallowed by the Senate on 18 September 2003) and 251.

2. Notified in the Commonwealth of Australia Gazette