Superannuation Industry (Supervision) Regulations (Amendment) (Cth)

Statutory Rules 1997No. 221 1

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Superannuation Industry (Supervision) Regulations2 (Amendment)

I, The 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 August 1997.

 WILLIAM DEANE

 Governor-General

By His Excellency’s Command,

c. r. kemp

Assistant Treasurer

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1.   Amendment

1.1   The Superannuation Industry (Supervision) Regulations are amended as set out in these Regulations.

[Note:  These Regulations commence on gazettal: see Acts Interpretation

Act 1901, s. 48.]

2.   Regulation 13.16 (Accrued benefits—restriction on alteration)

2.1   Subregulation 13.16 (2):

Add at the end:

• “; or (e)

  the alteration:

  • (i)

    affects only the benefits of members in respect of whom assessments under section 15 of the Superannuation Contributions Tax (Assessment and Collection) Act 1997 have been made; and

  • (ii)

    serves to enable the trustee:

    • (A)

      to be reimbursed for an amount paid, or to be paid, under that Act and the Superannuation Contributions Tax (Imposition) Act 1997; or

    • (B)

      in relation to an amount paid before reimbursement occurs—to charge interest on the amount paid.”.

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NOTES

1. Notified in the Commonwealth of Australia Gazette on 27 August 1997.

2. 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 and 153.