Superannuation Industry (Supervision) Regulations 1994

PART 9AB - ANNUAL PERFORMANCE ASSESSMENTS ETC.  

Division 9AB.1 - Preliminary  

REGULATION 9AB.7   SPECIFIED CIRCUMSTANCES AND PROVISIONS WHERE MULTIPLE PART 6A PRODUCTS TREATED AS ONE PART 6A PRODUCT - SUBSECTION 60G(1) OF ACT  

9AB.7(1)    
For the purposes of subsection 60G(1) of the Act, subregulations (2) and (3) of this regulation specify:

(a)    a kind of circumstances; and

(b)    provisions of Part 6A of the Act in relation to that kind of circumstances.

Note:

Subsection 60G(2) of the Act provides that in those kinds of circumstances, for the purposes of those provisions, 2 or more Part 6A products are treated as being one Part 6A product.

9AB.7(2)    
This subregulation specifies the kind of circumstances that exist where:

(a)    a determination under subregulation (4) is in force in relation to 2 or more Part 6A products; and

(b)    APRA has given notice of the determination in accordance with subregulation (6) .

9AB.7(3)    
This subregulation specifies all the provisions of Part 6A of the Act (apart from section 60G ) in relation to the kind of circumstances specified in subregulation (2) .

APRA ' s determination

9AB.7(4)    
For the purposes of paragraph (2)(a) , APRA may make a determination, in writing, in relation to 2 or more specified Part 6A products offered by one or more specified regulated superannuation funds, if APRA considers that making the determination is appropriate in the circumstances.

Note:

For variation and revocation, see subsection 33(3) of the Acts Interpretation Act 1901 .

9AB.7(5)    
For the purposes of APRA making a determination under subregulation (4) in the period:

(a)    starting on 15 August in a financial year; and

(b)    ending on 31 August in the financial year;

APRA may, in working out whether the making of the determination is appropriate in the circumstances, assume that the information available to it on that 15 August is the only information that is relevant to the determination.

9AB.7(6)    
APRA must give a notice of the determination to each of the trustees of the regulated superannuation funds specified in the determination. The notice must:

(a)    be in writing; and

(b)    include a copy of the determination.