Superannuation Industry (Supervision) Act 1993

Div 3 heading substituted by No 154 of 2007, s 3 and Sch 2 item 19, effective 24 September 2007. The heading formerly read:

How financial assistance is to be paid

S 235 repealed by No 154 of 2007, s 3 and Sch 2 item 20, effective 24 September 2007. For application provision, see note under s 229(1) . S 235 formerly read:

SECTION 235 MINISTER TO DECIDE THE SOURCE FROM WHICH FINANCIAL ASSISTANCE IS TO BE PAID  
235(1)
If the Minister determines that a grant of financial assistance is to be made to a trustee of a fund, the Minister is also to determine in writing whether or not the amount of assistance is to be debited from the Account.

Note:

Subsection 21(1) of the Financial Management and Accountability Act 1997 appropriates the Consolidated Revenue Fund for expenditure for the purposes of the Special Account up to the balance for the time being of the Account.

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History

S 235(1) amended by No 8 of 2005, s 3 and Sch 1 items 420 and 421, by substituting all of the words after " in writing " and inserting the note at the end, effective 22 February 2005. For savings provisions see note under s 234 . The words formerly read:

whether:

(a) the assistance is to be paid out of the Consolidated Revenue Fund; or

(b) the assistance is to be paid out of the Reserve.

S 235(1) amended by No 53 of 2004, s 3 and Sch 2 item 223, by substituting " a trustee " for " the trustee " , effective 1 July 2004.

S 235(1)(b) amended by No 152 of 1997, s 3 and Sch 2 item 1243, by substituting " Reserve " for " Superannuation Protection Account " , effective 1 January 1998.

235(2)
If the financial assistance is not debited from the Account, the Consolidated Revenue Fund is appropriated as necessary for the purposes of this section.

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History

S 235(2) substituted by No 8 of 2005, s 3 and Sch 1 item 422, effective 22 February 2005. For savings provisions see note under s 234 . S 235(2) formerly read:

235(2)
If the Minister determines that the assistance is to be paid out of the Consolidated Revenue Fund, the Consolidated Revenue Fund is appropriated accordingly.