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

Statutory Rules 1997No. 415 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 18 December 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.   Schedule 1 (Conditions of release and cashing restrictions—preserved benefits and restricted non-preserved benefits)

2.1   Part 2:

After item 203, insert:

“204

Permanent departure from Australia, being a departure by the member from Australia, before 1 July 1998, in relation to which: (a) the trustee is reasonably satisfied that it is for the purpose of permanent residence outside Australia; and (b) the written request for release of benefits was made before 1 July 1998

Nil”.

2.2   Item 205:

Omit “$15,000”, substitute “$10,000”.

 

3.   Application

3.1   Subregulation 2.1 does not limit the operation of regulation 5 of Statutory Rules 1997 No. 153.

3.2   Subregulation 2.2 does not apply in relation to an application made to a trustee before the commencement of these Regulations.

NOTES

1. Notified in the Commonwealth of Australia Gazette on 24 December 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, 153, 221, 243, 293, 309 and 343.