Superannuation Industry (Supervision) Amendment Regulations 2008 (No. 2) (Cth)

Superannuation Industry (Supervision) Amendment Regulations 2008 (No. 2)¹

Select Legislative Instrument 2008 No. 134

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 24 June 2008

P. M. JEFFERY

Governor‑General

By His Excellency’s Command

NICK SHERRY

Minister for Superannuation and Corporate Law

Name of Regulations

These Regulations are the Superannuation Industry (Supervision) Amendment Regulations 2008 (No. 2).

Commencement

(1)These Regulations are taken to have commenced on 4 October 2007.

(2)However, for the period starting on 4 October 2007 and ending immediately before the day on which these Regulations are registered, the amendment made by item [1] of Schedule 1 does not apply to the extent to which:

(a)the rights of a person (other than the Commonwealth or an authority of the Commonwealth) as at the day on which these Regulations are registered would be affected so as to disadvantage that person; or

(b)liabilities would be imposed on a person (other than the Commonwealth or an authority of the Commonwealth) in respect of anything done or omitted to be done before the day on which these Regulations are registered.

Amendment of Superannuation Industry (Supervision) Regulations 1994

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

Schedule 1 Amendments

(regulation 3)

[1] Regulation 8.02A

substitute

8.02APeriod within which an auditor must be appointed (Act s 35C)

For subsection 35C (1) of the Act, the following periods are prescribed:

(a)for a registrable superannuation entity — as soon as practicable, but in any event, no later than the last day of each year of income;

(b)for a self managed superannuation fund — as soon as practicable but, in any event, no later than 30 days before the date by which the auditor must give a report mentioned in subsection 35C (6) of the Act to the trustees of the fund.

Note See regulation 8.03 for the period within which a report mentioned in subsection 35C (6) of the Act must be provided.

[2] Paragraph 8.03 (a)

omit

section 36A

insert

section 35D

Note

All legislative instruments and compilations are registered on the Federal Register of Legislative Instruments kept under the Legislative Instruments Act 2003. See