Superannuation Industry (Supervision) Regulations 1994

PART 9 - FINANCIAL MANAGEMENT OF FUNDS  

Division 9.3 - Funding and solvency of defined benefit funds  

REGULATION 9.12   PERIOD OF EFFECT OF FUNDING AND SOLVENCY CERTIFICATES  

9.12(1)   [Period of effect of certificate]  

Subject to regulation 9.18 , a funding and solvency certificate takes effect from and including the effective date to and including whichever of the following first occurs:

(a) the expiry date; or

(b) the date on which the certificate ceases to have effect under subregulation (2).

9.12(2)   [Certificate ceases to have effect]  

A funding and solvency certificate relating to a defined benefit fund ceases to have effect if:

(a) amounts from the fund are released to an employer-sponsor of the fund under section 117 of the Act; or

(b) another funding and solvency certificate takes effect in respect of the fund; or

(c) a notifiable event occurs in relation to the fund; or

(d) an employer-sponsor of the fund fails to pay the contributions relating to the fund in accordance with subregulation 9.08 ; or

(e) subparagraphs (2)(a), (b), (c) and (d) do not apply and the superannuation actuary, in the performance of his or her actuarial functions under the Act or these Regulations, forms the opinion that the certificate is no longer appropriate and withdraws the certificate by giving written notice of withdrawal to the trustee.