Superannuation Safety Amendment Act 2004 (53 of 2004)

Schedule 2 Clarification of the application of the law to groups of trustees

Repeal the subsection, substitute:

Obligation to retain and later destroy tax file number

(3) Each trustee of the scheme must ensure that:

(a) the record is retained until the person ceases to be a beneficiary of the scheme; and

(b) the record is destroyed as soon as is reasonably practicable after the person ceases to be a beneficiary of the scheme.