Corporations Regulations 2001
[ CCH Note: Pursuant to the Corporations Amendment Regulations 2001 (No 4) (SR 2001 No 319) effective 11 March 2002, Chapter 7 (Securities) comprising reg 7.1.01 - 7.15.01 and Chapter 8 (The futures industry) comprising reg 8.1.01 - 8.7.03 are replaced by a new Chapter 7 (Financial services and markets) comprising reg 7.1.01 - 7.12.01. As the subject matter of the new Chapter 7 relates to the new financial services reform regime, " inserted " has been used in the history notes for each provision, and all references to the former provisions have been removed.]
For paragraph 1017D(5)(g) of the Act, if the amount of an RSA at the end of a reporting period is at least $10 000, the periodic statement for that reporting period must include the following, in addition to the details mentioned in regulations 7.9.19 and 7.9.22 :
(a) a statement of that fact;
(b) a statement that the information contained in the periodic statement is important and that the notice must be read carefully;
(c) a statement that outlines the effect of the lower-risk/lower-return nature of the RSA on possible benefits in the long term;
(d) a suggestion that the RSA holder may wish to consider:
(i) other superannuation arrangements that may provide a greater return over the long term; and
(ii) seeking advice on alternative investment strategies that may be more suitable.
This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.