Superannuation Industry (Supervision) Regulations 1994

PART 7 - CONTRIBUTION AND BENEFIT ACCRUAL STANDARDS (REGULATED SUPERANNUATION FUNDS)  

Division 7.2 - Contributions to be allocated to members  

Subdivision 7.2.2 - Operating standards  

REGULATION 7.08   CONTRIBUTIONS TO BE ALLOCATED TO MEMBERS  

7.08(1)    
This regulation applies to the trustee of a regulated superannuation fund if:

(a)    the trustee receives a contribution in a month; and

(b)    regulation 7.07H and subregulation 7.07G(4) do not apply to the trustee in relation to the contribution; and

(c)    

the trustee is not required to allocate the contribution in accordance with regulation 7.11 .

7.08(2)    
For subsection 31(1) of the Act, the trustee must allocate the contribution to a member of the fund:

(a)    not later than 28 days after the end of the month; or

(b)    if it is not reasonably practicable to allocate the contribution to the member of the fund not later than 28 days after the end of the month - within such longer period as is reasonable in the circumstances.