Superannuation Industry (Supervision) Amendment Regulations 2003 (No. 1)

(42 of 2003)

27 March 2003

Made under the Superannuation Industry (Supervision) Act 1993

1   Name of Regulations

These Regulations are theSuperannuation Industry (Supervision) Amendment Regulations 2003 (No. 1).

2   Commencement

These Regulations commence on gazettal.

3   Amendment of Superannuation Industry (Supervision) Regulations 1994

Schedule 1 amends theSuperannuation Industry (Supervision) Regulations 1994.

Schedule 1   Amendments

[1]   Subregulation 6.01 (2), definition of eligible temporary resident visa

substitute

eligible temporary resident visa means a visa:

(a) of one of the subclasses mentioned in Schedule 1AB, within the meaning of Part 2 of Schedule 1 to theMigration Regulations 1994; and

(b) that is held by a person who is not a New Zealand citizen.

Note Some of the subclasses of visa mentioned in Schedule 1AB no longer exist. However, the subclasses remain relevant for regulations 6.20A, 6.20B and 6.24A.

[2]   Subregulation 6.20A (3)

omit

If the member's withdrawal benefit in the fund is at least $5,000, the trustee

insert

The trustee

[3]   After subregulation 6.20A (3)

insert

(3A) For subregulation (3), the statement may be in electronic form.

[4]   Subregulation 6.20B (3)

omit

If the member's withdrawal benefit in the fund is at least $5,000, the trustee

insert

The trustee

[5]   After subregulation 6.20B (3)

insert

(3A) For subregulation (3), the statement may be in electronic form.

[6]   Subregulation 6.24A (3)

omit

If the member's withdrawal benefit in the fund is at least $5,000, the trustee

insert

The trustee

[7]   After subregulation 6.24A (3)

insert

(3A) For subregulation (3), the statement may be in electronic form.