Superannuation Legislation Amendment (MySuper Measures) Regulation 2013 (155 of 2013)
Schedule 2 Amendments relating to MySuper product dashboard and other measures
Corporations Regulations 2001
4 Regulation 7.9.48
Repeal the regulation, substitute:
7.9.48 Source of power for this Subdivision
This Subdivision is made for section 1017DA of the Act.
7.9.48A Definitions
In this Subdivision:
decision-maker means:
(a) the trustee of a regulated superannuation fund or approved deposit fund; or
(b) an RSA provider.
eligible person means any of the following:
(a) a beneficiary of a relevant entity;
(b) a former beneficiary of a relevant entity;
(c) the executor or administrator of the estate of a former beneficiary of a relevant entity;
(d) for a complaint that relates to the payment of a death benefit - a person who:
(i) has an interest in the death benefit; or
(ii) claims to be, or to be entitled to death benefits through, a person mentioned in subparagraph (i).
relevant entity means any of the following:
(a) a regulated superannuation fund;
(b) an approved deposit fund;
(c) an RSA.
7.9.48B Complaints - general
(1) This regulation applies to a decision-maker if:
(a) an eligible person makes a complaint; and
(b) the decision-maker makes a decision in relation to the complaint in accordance with the relevant entity’s internal dispute resolution mechanism.
(2) The decision-maker must, within 30 days of making the decision, inform the eligible person:
(a) of the date of the decision; and
(b) about the external dispute resolution system that covers complaints by eligible persons; and
(c) about how that system may be accessed.
Example: Information about the Superannuation Complaints Tribunal.
7.9.48C Complaints about benefits other than death benefits - decision made
(1) This regulation applies to a decision-maker if:
(a) an eligible person makes a complaint; and
(b) the complaint is not a complaint that relates to the payment of a death benefit; and
(c) the decision-maker makes a decision in relation to the complaint in accordance with the relevant entity’s internal dispute resolution mechanism.
(2) The decision-maker must, within 30 days of making the decision, inform the eligible person:
(a) that the eligible person may, in writing, request written reasons for the decision; and
(b) that the reasons mentioned in paragraph (a) must be given:
(i) within 28 days of the eligible person’s request under paragraph (a); or
(ii) if the Regulator gives the decision-maker an extension - within the extended period.
7.9.48D Complaints about benefits other than death benefits - no decision made
(1) This regulation applies to a decision-maker if:
(a) an eligible person makes a complaint; and
(b) the complaint is not a complaint that relates to the payment of a death benefit; and
(c) the decision-maker has not made a decision in relation to the complaint.
(2) The decision-maker must, within 45 days of the complaint, inform the eligible person:
(a) that if the decision is not made within 90 days of the complaint, the eligible person may, in writing, request written reasons for the failure to make the decision; and
(b) that the reasons mentioned in paragraph (a) must be given:
(i) within 28 days of the eligible person’s request under paragraph (a); or
(ii) if the Regulator gives the decision-maker an extension - within the extended period.