Superannuation Industry (Supervision) Regulations 1994

REGULATION 2.26B EXCEPTION - MEMBERS WITH SMALL AMOUNTS THAT ARE EXPECTED TO GROW QUICKLY  
2.26B(1)
If, at the end of a member reporting period, the trustee of a fund has a reasonable expectation that a particular protected member will have a withdrawal benefit of at least $1,500 within 12 months after the end of that member reporting period, the trustee need not show, in information provided to the member, the effect of the member-protection standards.

2.26B(2)
For the purposes of subregulation (1), a trustee is not taken to have a reasonable expectation that a member will have a withdrawal benefit of $1,500 within the period of 12 months referred to in that subregulation if termination of the member's employment with a current employer (not being an employer who or that is an associate, within the meaning of paragraph 70(a) of the Act, of the member) would be likely to result in the member's withdrawal benefit being below $1,500 at the end of that period.

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History

Reg 2.26B(2) substituted by SR No 159 of 1995.

2.26B(3)
If, at the end of the 12-month period, the member's withdrawal benefit has not reached $1,500, the trustee must show, in information provided to the member for each member reporting period ending on or after the end of the 12-month period, the effect of the member-protection standards.

2.26B(4)
The trustee of a fund must not take advantage of subregulation (1) in respect of a person more than once unless, after an occasion on which the trustee does so but before the next occasion, the member leaves and rejoins the fund.