Superannuation Industry (Supervision) Act 1993

Pt 2A inserted by No 53 of 2004, s 3 and Sch 1 item 29, effective 1 July 2004.

Div 8 inserted by No 40 of 2019, s 3 and Sch 4 item 8, effective 5 July 2019. No 40 of 2019, s 3 and Sch 4 items 13 - 15 contain the following application and transitional provisions:

13 Definitions  
13
In this Part:

commencement day
means the day on which this Schedule commences.

14 Treatment of persons holding a controlling stake in an RSE licensee before the commencement day  
14(1)
This item applies if:

(a) a person holds a controlling stake in an RSE licensee immediately before the commencement day; and

(b) the person continues to hold a controlling stake in the RSE licensee on, or on and after, the commencement day.

14(2)
For the purposes of the Superannuation Industry (Supervision) Act 1993 , the person is taken to have approval under section 29HD to hold a controlling stake in the RSE licensee during the period:

(a) beginning on the commencement day; and

(b) ending when the period during which the person holds a controlling stake in the RSE licensee is broken.
15 Holding a controlling stake without approval  
15
Section 29JCB of the Superannuation Industry (Supervision) Act 1993 , as inserted by item 9 of this Schedule, applies where a person begins to hold a controlling stake in an RSE licensee on or after the day that is 3 months after the commencement day.

Div 8 repealed by No 117 of 2012, s 3 and Sch 2 item 25, effective 9 September 2012.

Div 8 inserted by No 53 of 2004, s 3 and Sch 1 item 29, effective 1 July 2004.

Subdiv B inserted by No 40 of 2019, s 3 and Sch 4 item 8, effective 5 July 2019. For application and transitional provisions, see note under Pt 2A Div 8 heading.

Subdiv B repealed by No 117 of 2012, s 3 and Sch 2 item 25, effective 9 September 2012.

Subdiv B inserted by No 53 of 2004, s 3 and Sch 1 item 29, effective 1 July 2004.

S 29HB inserted by No 40 of 2019, s 3 and Sch 4 item 8, effective 5 July 2019. For application and transitional provisions, see note under Pt 2A Div 8 heading.

S 29HB repealed by No 117 of 2012, s 3 and Sch 2 item 25, effective 9 September 2012. S 29HB formerly read:

SECTION 29HB MODIFICATIONS ETC. TO RISK MANAGEMENT STRATEGIES  
29HB(1)
An RSE licensee may:

(a) modify its risk management strategy; or

(b) repeal its risk management strategy and replace it with a new risk management strategy.

29HB(2)
However, after the modification or the repeal and replacement, the risk management strategy must comply with section 29H .

29HB(3)
APRA may direct an RSE licensee to modify its risk management strategy as set out in the direction, by a specified time, to ensure that the strategy complies with section 29H . The direction is to be given by notice to the RSE licensee.

Note:

A failure to comply with a direction may be an offence: see section 29JC .

29HB(4)
A time specified in a direction given to an RSE licensee under subsection (3) must be at least 14 days after the direction is given to the RSE licensee.

S 29HB inserted by No 53 of 2004, s 3 and Sch 1 item 29, effective 1 July 2004.