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

Statutory Rules 1997No. 153 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 25 June 1997.

 WILLIAM DEANE

 Governor-General

By His Excellency’s Command,

C. R. KEMP

Assistant Treasurer

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1.   Commencement

1.1   These Regulations commence on 1 July 1997.

2.   Amendment

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

3.   Regulation 6.01 (Interpretation)

3.1   Subregulation 6.01 (2) (definition of “permanent departure from Australia”):

• Omit the definition. 

4.   Schedule 1 (Conditions of release and cashing restrictions—preserved benefits and restricted non-preserved benefits)

4.1   Part 1:

Omit item 104.

4.2   Part 2:

Omit item 204.

 

5.   Transitional

5.1 A written request to a trustee, before 1 July 1997, for release of benefits on the ground of permanent departure from Australia, as defined in subregulation 6.01 (2) of the Superannuation Industry (Supervision) Regulations as in force immediately before the commencement of these Regulations, must be dealt with by the trustee as if the amendments of the Superannuation Industry (Supervision) Regulations made by regulations 3 and 4 had not occurred.

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NOTES

1. Notified in the Commonwealth of Australia Gazette on 26 June 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 and 152.