Superannuation Industry (Supervision) (Transitional Provisions) Amendment Regulations 2000 (No. 1) (Cth)
Superannuation Industry (Supervision) (Transitional Provisions) Amendment Regulations 2000 (No. 1)
Statutory Rules 2000 No. 35
I, WILLIAM PATRICK DEANE, 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 22 March 2000.
WILLIAM DEANE
Governor-General
By His Excellency’s Command,
JOE HOCKEY
Minister for Financial Services and Regulation
made under the
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These Regulations are the
Superannuation Industry (Supervision) (Transitional Provisions) Amendment Regulations 2000 (No. 1) .
These Regulations commence on gazettal.
Schedule 1 amends the Superannuation Industry (Supervision) (Transitional Provisions) Regulations.
(regulation 3)
substitute
1 Name of Regulations These Regulations are the
Superannuation Industry (Supervision) (Transitional Provisions) Regulations 1993 .
substitute
(2) In these Regulations, a reference to the
applied OSS Act is a reference to:
(a) in relation to matters occurring on a day before 1 July 1994:
(i) the provisions of the
Superannuation (Self Managed Superannuation Funds) Taxation Act 1987 , as in force on that day, that are specified in Part 1 of Schedule 1; and(ii) the provisions of that Act, as in force on 30 November 1993, that are specified in column 1 in Part 2 of Schedule 1, as modified in accordance with the respective provisions in column 2 in that Part; and
(iii) the provisions of that Act, as in force on the day mentioned in subparagraph (i), that are specified in, and modified by, Part 3 of Schedule 1; and
(b) in relation to matters occurring on or after 1 July 1994:
(i) the provisions of the
Superannuation (Self Managed Superannuation Funds) Taxation Act 1987 , as in force on 30 June 1994, that are specified in Part 1 of Schedule 1; and(ii) the provisions of that Act, as in force on 30 November 1993, that are specified in column 1 in Part 2 of Schedule 1, as modified in accordance with the respective provisions in column 2 in that Part; and
(iii) the provisions of that Act, as in force on 30 June 1994, that are specified in, and modified by, Part 3 of Schedule 1.
(3) In these Regulations, a reference to the
applied OSS Regulations is a reference to:
(a) in relation to matters occurring on a day before 1 July 1994:
(i) the provisions of the Occupational Superannuation Standards Regulations, as in force on that day, that are specified in Part 1 of Schedule 2; and
(ii) the provisions of those Regulations, as in force on 30 November 1993, that are specified in, and modified by, Part 2 of Schedule 2; and
(iii) the provisions of those Regulations, as
in force on the day mentioned in subparagraph (i), that are specified in, and modified by, Part 3 of Schedule 2; and
(b) in relation to matters occurring on or after 1 July 1994:
(i) the provisions of the Occupational Superannuation Standards Regulations, as in force on 30 June 1994, that are specified in Part 1 of Schedule 2; and
(ii) the provisions of those Regulations, as in force on 30 November 1993, that are specified in, and modified by, Part 2 of Schedule 2; and
(iii) the provisions of those Regulations, as in force on 30 June 1994, that are specified in, and modified by, Part 3 of Schedule 2.
omit the Commissioner
insert APRA
substitute
Part 1 Unmodified provisions 1. Subsections 3 (2), (4) and (5)
2. Section 7
3. Subsections 16 (2), (7), (8) and (9)
[5] Schedule 1, Part 2, modified subsection 3 (1), definition of reviewable decision
omit the Commissioner
insert APRA
[6] Schedule 1, Part 2, modified subsection 3 (1), definition of this Act
omit
Occupational Superannuation Standards Act 1987
insert
Superannuation (Self Managed Superannuation Funds) Taxation Act 1987
[7] Schedule 1, Part 2, modified subsection 10 (2)
omit each mention of the Commissioner
insert APRA
[8] Schedule 1, Part 2, modified subsection 12 (3)
omit the Commissioner
insert APRA
[9] Schedule 1, Part 2, modified subsection 12 (4)
omit each mention of the Commissioner
insert APRA
insert
Part 3 Additional modifications The following provisions are modified by omitting ‘the Commissioner’ or ‘The Commissioner’, wherever occurring, and inserting ‘APRA’:
• subsection 3 (1), definition of
superannuation fund • subsection 3 (3)
• section 11
• subsection 12 (3A)
• section 12A
• subsections 16 (3), (4), (5) and (6)
• section 17.
substitute
1. Subregulations 3 (2), (3), (4), (5), (6), (7), (8), (9) and (10)
2. Regulations 3B, 3C and 3D
3. Part II, except:
(a) regulations 5AAA, 5AAB and 5AAD; and
(b) subregulation 9 (3); and
(c) sub-subparagraph 11 (1) (a) (iii) (D); and
(d) paragraph 13 (1) (e); and
(e) subregulations 16A (4), (7), (9), (12) and (13); and
(f) regulations 17 and 17A; and
(g) subregulations 18 (2) and (3); and
(h) regulations 18A, 18B and 18E; and
(i) subregulations 18H (3), 18Q (3) and (5) and 18QA (2) and (4); and
(j) regulations 18R and 18Y
4. Regulations 23Q and 26
5. Schedules 1, 1A, 2, 4, 5, 6, 7, 8 and 9, to the extent that the Schedules are applicable to other provisions of the applied OSS Regulations
[12] Schedule 2, Part 2, item 1, modified subregulation 3 (1), definition of the Act
omit
Occupational Superannuation Standards Act 1987
insert
Superannuation (Self Managed Superannuation Funds) Taxation Act 1987
insert
2A. Regulation 9 (Preservation standards) 2A.1 Subregulation 9 (3)
Omit all the words after paragraph (b), substitute:
‘the governing rules of which have been approved by APRA or the Commissioner of Taxation must be preserved.’.
[14] Schedule 2, Part 2, item 3, modified sub-subparagraph 11 (1) (a) (iii) (D)
omit the Commissioner
insert APRA
[15] Schedule 2, Part 2, item 4, modified paragraphs 17 (1) (b) and (c)
omit the Commissioner
insert APRA
[16] Schedule 2, Part 2, item 4, modified paragraph 17 (4) (b)
omit the Commissioner
insert APRA
[17] Schedule 2, Part 2, item 4, modified subparagraph 17 (4) (e) (ii)
omit the Commissioner
insert APRA
[18] Schedule 2, Part 2, item 4, modified sub-subparagraph 17 (6) (a) (iii) (B)
omit the Commissioner
insert APRA
[19] Schedule 2, Part 2, item 8, modified subregulation 25 (7), heading
substitute
APRA may waive requirements
[20] Schedule 2, Part 2, item 8, modified subregulation 25 (7)
omit The Commissioner
insert APRA
insert
Part 3 Additional modifications The following provisions are modified by omitting ‘the Commissioner’ or ‘The Commissioner’, wherever occurring, and inserting ‘APRA’:
• regulations 5AAA, 5AAB and 5AAD
• paragraph 13 (1) (e)
• subregulations 16A (4), (7), (9), (12) and (13)
• regulation 17A
• regulation 18A
• subregulation 18H (3)
• regulation 18Q, heading
• subregulations 18Q (3) and (5)
• subregulations 18QA (2) and (4)
• item 1 of Schedule 3.
1. These Regulations amend Statutory Rules 1993 No. 352, as amended by 1994 No. 190; 1995 No. 157; 1997 No. 414; 1998 No. 81.
2. Made by the Governor-General on 22 March 2000, and notified in the
Commonwealth of Australia Gazette on 29 March 2000.
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