Superannuation Industry (Supervision) Regulations 1994

PART 7 - CONTRIBUTION AND BENEFIT ACCRUAL STANDARDS (REGULATED SUPERANNUATION FUNDS)

Division 7.3 - Contributions to be allocated to members - certain other regulated superannuation funds

REGULATION 7.11

7.11 CONTRIBUTIONS TO BE ALLOCATED TO MEMBERS

If the trustee of the fund receives a contribution in a month, the trustee must allocate the contribution:

(a) to a member of the fund:

(i) within 28 days after the end of the month; or

(ii) if it is not reasonably practicable to comply with subparagraph (i) - within a longer period that is reasonable in the circumstances; and

(b) having regard to the present and prospective liabilities of the fund to its members.