Superannuation Industry (Supervision) Act 1993

S 101(1) amended by No 76 of 2023, s 3 and Sch 2 item 719, by inserting " or of an exempt public sector superannuation scheme that has elected to join the AFCA scheme " , effective 20 October 2023.

S 101(1) amended by No 13 of 2018 (as amended by No 35 of 2022), s 3 and Sch 3 item 25, by substituting " deals " for " , and the Superannuation (Resolution of Complaints) Act 1993 , deal " in the note, effective 5 March 2022. No 13 of 2018 (as amended by No 35 of 2022), s 3 and Sch 3 items 32 - 35 contain the following application, saving and transitional provisions:

Part 3 - Application, saving and transitional provisions

32 Existing determinations unaffected  
(1)
The repeal of the Superannuation (Resolution of Complaints) Act 1993 by Part 1 of this Schedule, does not affect a determination made under that Act before the commencement of that Part (5 March 2022).

(2)
The amendments of Acts made by Part 2 of this Schedule do not apply in relation to such a determination, and those Acts continue to apply after the commencement of that Part in relation to such a determination as if those amendments had not been made.
33 Transfer of records  
(1)
This item applies to any records or documents that were in the possession of the following immediately before the commencement of Part 1 of this Schedule:
(a) a member of the Superannuation Complaints Tribunal;
(b) a member of the staff of the Australian Securities and Investments Commission who had been made available to the Superannuation Complaints Tribunal under section 62 of the Superannuation (Resolution of Complaints) Act 1993 .

(2)
The records and documents are to be transferred to the Australian Securities and Investments Commission after that commencement.

Note:

The records and documents are Commonwealth records for the purposes of the Archives Act 1983 .

Records and documents taken to be protected information

(3)
For the purposes of section 127 of the Australian Securities and Investments Commission Act 2001 , a record or document transferred to the Australian Securities and Investments Commission under subitem (2) of this item is taken to be protected information, unless the document or record has already been lawfully made available to the public.
34 Remittal of matters by the Federal Court  
(1)
This item applies in relation to an appeal to the Federal Court under section 46 of the Superannuation (Resolution of Complaints) Act 1993 , as in force immediately before the commencement of Part 1 of this Schedule, from a determination of the Superannuation Complaints Tribunal, if the appeal was not finally determined before that commencement.

(2)
Without limiting the powers of the Federal Court, the Federal Court may make an order remitting the matter to be determined by the Australian Financial Complaints Authority in accordance with the directions of the Court.
35 Transitional rules  
(1)
The Minister may, by legislative instrument, make rules prescribing matters of a transitional nature (including prescribing any saving or application provisions) relating to the amendments or repeals made by this Schedule.

(2)
To avoid doubt, the rules may not do the following:
(a) create an offence or civil penalty;
(b) provide powers of:

(i) arrest or detention; or

(ii) entry, search or seizure;

(c) impose a tax;
(d) set an amount to be appropriated from the Consolidated Revenue Fund under an appropriation in this Act;
(e) directly amend the text of this Act.

S 101(1) substituted by No 13 of 2018, s 3 and Sch 2 item 9, effective 6 March 2018. No 13 of 2018, s 3 and Sch 1 item 10 contains the following transitional provision:

10 Transitional provision for giving written reasons  
10
Until the first time an instrument made under subsection 101(1B) of the Superannuation Industry (Supervision) Act 1993 comes into force, paragraph 101(1)(d) of that Act as so amended has effect as if:

(a) the requirements of paragraphs 101(1)(c) to (e) of that Act as in force immediately before the commencement of this Part were the requirements specified under subsection 101(1B) of that Act as so amended; and

(b) subsection 101(1A) of that Act as in force immediately before that commencement still had effect.

S 101(1) formerly read:

101(1)
Each trustee of a regulated superannuation fund other than a self managed superannuation fund, or of an approved deposit fund, must take all reasonable steps to ensure that there are at all times in force arrangements under which:

(a) a person referred to in subsection (1A) has the right to make an inquiry or a complaint of the kind specified in that subsection in relation to that person; and

(b) an inquiry or complaint so made will be properly considered and dealt with within 90 days after it was made; and

(c) if a person referred to in subsection (1A) makes a complaint that relates to the payment of a death benefit:

(i) the person is given written reasons for a decision made by the trustee in relation to the complaint when the person is given notice of the decision; or

(ii) if no decision is made in relation to the complaint within 90 days after the complaint is made - the person may, by giving notice in writing to a trustee of the fund, request written reasons for the failure to make a decision in relation to the complaint within that period; and

(d) if a person referred to in subsection (1A) makes a complaint of another kind specified in that subsection in relation to the person, the person may, by giving notice in writing to a trustee of the fund, request written reasons for:

(i) a decision made by the trustee in relation to the complaint; or

(ii) if no decision is made in relation to the complaint within 90 days after the complaint is made - the failure to make a decision in relation to the complaint within that period; and

(e) if a notice requesting written reasons is given in the circumstances set out in subparagraph (c)(ii) or paragraph (d), the written reasons are given to the person within 28 days after the notice is given, or such longer period as the Regulator, in writing, permits.

S 101(1) amended by No 13 of 2018, s 3 and Sch 1 item 43, by inserting para (a), effective 6 March 2018. No 13 of 2018, s 3 and Sch 1 item 44 contains the following application provision:

44 Application of amendments  
(1)
The amendments apply on and after the day that is:

(a) the day specified under subitem (2); or

(b) if no such day is specified - the day that is 12 months after the day on which the first authorisation of an external dispute resolution scheme, under Part 7.10A of the Corporations Act 2001 , comes into force.

(2)
The Minister may, by notifiable instrument, specify a day for the purposes of paragraph (1)(a). The day must not be earlier than the day on which the first authorisation of an external dispute resolution scheme, under Part 7.10A of the Corporations Act 2001 , comes into force.

S 101(1) amended by No 61 of 2013, s 3 and Sch 1 item 74, by inserting paras (c), (d) and (e), applicable in relation to a complaint if: (a) where a decision is made in relation to the complaint within 90 days after the complaint is made - the decision is made on or after 1 July 2013; and (b) where no decision is made in relation to the complaint within 90 days after the complaint is made - the 90 day period ends on or after 1 July 2013.

S 101(1) amended by No 53 of 2004, s 3 and Sch 2 item 118, by substituting " Each trustee " for " The trustee " , effective 1 July 2004.

S 101(1) amended by No 121 of 1999, s 3 and Sch 1 item 43, by substituting " a self managed superannuation fund, or of an approved deposit fund " for " an excluded superannuation fund, or of an approved deposit fund other than an excluded approved deposit fund " , effective 8 October 1999. For transitional and saving provisions, see the history note under the heading to Pt 24B .

S 101(1) amended by No 144 of 1995.

S 101(1A) substituted by No 13 of 2018, s 3 and Sch 2 item 9, effective 6 March 2018. For transitional provision, see note under s 101(1) . S 101(1A) formerly read:

101(1A)
For the purposes of paragraph (1)(a):

(a) a beneficiary or former beneficiary of a regulated superannuation fund may make an inquiry into, or complaint about, the operation or management of the fund in relation to that person; and

(b) the executor or administrator of the estate of a former beneficiary of such a fund may make an inquiry into, or complaint about, the operation or management of such a fund in relation to the former beneficiary; and

(c) without limiting the generality of paragraph (a) or (b), any person may make an inquiry into, or complaint about, a decision of a trustee of such a fund that relates to the payment of a death benefit if:

(i) the person has an interest in the death benefit; or

(ii) the person claims to be, or to be entitled to death benefits through, a person referred to in subparagraph (i).

S 101(1A) amended by No 53 of 2004, s 3 and Sch 2 item 119, by substituting " a trustee " for " the trustee " in para (c), effective 1 July 2004.

S 101(1A) inserted by No 144 of 1995.

S 101(1B) inserted by No 13 of 2018, s 3 and Sch 2 item 9, effective 6 March 2018. For transitional provision, see note under s 101(1) .

S 101(2) amended by No 31 of 2001, s 3 and Sch 1 item 177, by inserting the note at the end, effective 15 December 2001.

S 101(3) repealed by No 76 of 2023, s 3 and Sch 2 item 720, effective 20 October 2023. S 101(3) formerly read:

101(3)
In this section:

regulated superannuation fund
includes a scheme covered by paragraph (c) of the definition of regulated superannuation fund in section 761A of the Corporations Act 2001 .

S 101(3) inserted by No 140 of 1994.