Superannuation Industry (Supervision) Amendment Regulations 2004 (No. 9) (Cth)

Superannuation Industry (Supervision) Amendment Regulations 2004 (No. 9)1

Statutory Rules 2004 No. 2492

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 5 August 2004

P. M. JEFFERY

Governor-General

By His Excellency’s Command

MALCOLM BROUGH

Minister for Revenue and Assistant Treasurer

1Name of Regulations

These Regulations are the Superannuation Industry (Supervision) Amendment Regulations 2004 (No. 9).

2Commencement

These Regulations commence on 20 September 2004.

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), definition of market linked income stream

omit

or subregulation 1.06 (8).

insert

of subregulation 1.06 (8).

[2]Subparagraph 1.05 (2) (f) (iii)

substitute

1. (iii)

   if the eligible termination payment resulting from the commutation is transferred directly for the purpose of purchasing another benefit provided under:

   1. (A)

      a contract that meets the standards of this subregulation or subregulation (3), (9) or (10); or

   2. (B)

      rules that meet the standards of subregulation 1.06 (2), (3), (7) or (8); or

   3. (C)

      terms and conditions that meet the standards of subregulation 1.07 (3A) of the RSA Regulations; or

[3]Subparagraph 1.06 (2) (e) (iii)

substitute

1. (iii)

   if the eligible termination payment resulting from the commutation is transferred directly for the purpose of purchasing another benefit provided under:

   1. (A)

      rules that meet the standards of this subregulation or subregulation (3), (7) or (8); or

   2. (B)

      a contract that meets the standards of subregulation 1.05 (2), (3), (9) or (10); or

   3. (C)

      terms and conditions that meet the standards of subregulation 1.07 (3A) of the RSA Regulations; or

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; 2004 Nos. 12, 84, 113, 148, 152, 153, 154 and 155.

2. Notified in the Commonwealth of Australia Gazette