Superannuation Industry (Supervision) Amendment Regulations 2005 (No. 1) (Cth)
Superannuation Industry (Supervision) Amendment Regulations 2005 (No. 1)1
Select Legislative Instrument 2005 No. 34
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 10 March 2005
P. M. JEFFERY
Governor-General
By His Excellency’s Command
MAL BROUGH
Minister for Revenue and Assistant Treasurer
Name of Regulations
These Regulations are the Superannuation Industry (Supervision) Amendment Regulations 2005 (No. 1).
Commencement
These Regulations commence on
1 July 2005 .
Amendment of Superannuation Industry (Supervision) Regulations 1994
Schedule 1 amends the Superannuation Industry (Supervision) Regulations 1994.
Schedule 1 Amendment
(regulation 3)
[1] After regulation 13.18
insert
13.18AConditional offer of goods or services — exemptions
(1)For subsections 68A (2) and (4) of the Act, the following kinds of goods and services are prescribed:
(a)the supply of a business loan to a person by a trustee, or an associate of a trustee, of a regulated superannuation fund, that is supplied:
(i)on condition that the person be a member of the fund; and
(ii)on a commercial arm’s length basis;
(b)a service that is supplied by a trustee, or an associate of a trustee, of a regulated superannuation fund to a person for the forwarding of superannuation contributions and information:
(i)to other funds or RSAs; and
(ii)on behalf of the person; and
(iii)in relation to employees of the person who have chosen those funds;
(c)an advice or administration service that relates to the payment of superannuation contributions to a regulated superannuation fund, that is supplied by a trustee, or an associate of a trustee, of the fund to:
(i)a person; or
(ii)the employees of the person;
(d)the supply or offer to supply goods or services to a person by a trustee, or an associate of a trustee, of a regulated superannuation fund, only if:
(i)the supply or offer is available to the employees of the person who are members of the fund; and
(ii)the terms of the supply or offer to each employee are not less than the terms supplied or offered to the person.
(2)Paragraph (1) (a) does not apply to the supply of a business loan that is supplied on the condition that a person other than the person receiving the loan be a member of the regulated superannuation fund.
Note
All legislative instruments and compilations are registered on the Federal Register of Legislative Instruments kept under the Legislative Instruments Act 2003. See
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