Superannuation Industry (Supervision) Regulations 1994

PART 6 - PAYMENT STANDARDS  

Division 6.5 - Compulsory rollover and transfer of superannuation benefits in regulated superannuation funds and approved deposit funds  

REGULATION 6.34C   RECEIVING FUND MUST ELECTRONICALLY RECEIVE INFORMATION AND PAYMENT  

6.34C(1)    
This regulation applies to a regulated superannuation fund or approved deposit fund (the receiving fund ) if:

(a) another regulated superannuation fund or approved deposit fund, or an RSA provider (the transferring fund ) gives to the receiving fund in relation to a rollover or transfer:

(i) the information mentioned in subregulation 6.34B(1) ; and

(ii) a payment of the whole or a part of a member ' s withdrawal benefit being rolled over or transferred to the receiving fund; and

(b) the information is given, and the payment made, in accordance with the applicable Standards (if any) made under subsection 34K(3) of the Act or subsection 45B(3) of the RSA Act.

6.34C(2)    
The receiving fund must be able to receive the information and payment electronically.

Note:

Standards made under subsection 34K(3) may set out additional requirements for how the fund is to receive the information and payment.