Corporations Amendment (Streamlining Future of Financial Advice) Regulation 2014 (102 of 2014)

Schedule 1

Insert:

Pension switches

(5A) For subregulation (2), if a retail client:

(a) has a superannuation interest in the growth phase before 1 July 2014; and

(b) elects to receive a pension from the superannuation interest, or part of the interest;

do not treat the election or the receipt of the pension as an acquisition occurring on or after 1 July 2014.

(5B) In paragraph (5A)(a) growth phase has the meaning given by regulation 1.03AB of the SIS Regulations.