Superannuation Industry (Supervision) Regulations 1994

PART 9 - FINANCIAL MANAGEMENT OF FUNDS  

Division 9.3 - Funding and solvency of defined benefit funds  

REGULATION 9.10   CONTENTS OF FUNDING AND SOLVENCY CERTIFICATES  

9.10(1)   [Details to be provided by actuary]  

Subject to regulation 9.18 (relating to periods of technical insolvency), in the funding and solvency certificate required under regulation 9.09 in relation to a defined benefit fund, a superannuation actuary must:

(a) in accordance with regulation 9.11 , 9.13(5) or 9.14(4) , specify the date on which the certificate takes effect; and

(b) if subregulation 9.11(4) applies - make a statement in accordance with that subregulation; and

(c) identify any event relating to the fund that, if the event occurs during the period when the certificate is in force, should, in the opinion of the superannuation actuary, require the certificate to cease to have effect and a new certificate to be obtained; and

(d) in accordance with subregulation (2), specify the date on which the certificate expires; and

(e) certify the solvency of the fund as at the effective date of the certificate; and

(f) certify the minimum contributions reasonably expected by the superannuation actuary to be required in respect of any member or class of members to secure the solvency of the fund on the expiry date of the certificate; and

(g) if the certified minimum contributions should, in the superannuation actuary's opinion, be paid by instalments - specify the number and amount of the instalments that must be paid and the frequency with which they must be paid; and

(h) sign and date the certificate.

9.10(2)   [Date on which certificate expires]  

The date specified under paragraph (1)(d) as the date on which the certificate expires must be a date that is:

(a) not less than 12 months; and

(b) not more than 5 years;

after the effective date of the certificate.