Superannuation Industry (Supervision) Regulations 1994
PART 9
-
FINANCIAL MANAGEMENT OF FUNDS
Division 9.3
-
Funding and solvency of defined benefit funds
REGULATION 9.17
9.17
TECHNICAL INSOLVENCY
-
OPERATING STANDARD
The trustee of a defined benefit fund that is taken to be technically insolvent for the purposes of these regulations must either:
(a) initiate a program in accordance with this Division that is designed by a superannuation actuary to return the fund to a position that would enable the superannuation actuary to certify the solvency of the fund in a funding and solvency certificate in accordance with regulation 9.10 not later than 5 years after the date on which the technical insolvency commenced; or
(b) initiate winding-up proceedings in accordance with Division 9.4 .
The trustee of a defined benefit fund that is taken to be technically insolvent for the purposes of these regulations must either:
(a) initiate a program in accordance with this Division that is designed by a superannuation actuary to return the fund to a position that would enable the superannuation actuary to certify the solvency of the fund in a funding and solvency certificate in accordance with regulation 9.10 not later than 5 years after the date on which the technical insolvency commenced; or
(b) initiate winding-up proceedings in accordance with Division 9.4 .
View history note
Hide history noteThis information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.