Corporations Amendment Regulations 2004 (No. 5)

(145 of 2004)

Dated 24 June 2004

Corporations Act 2001.

1   Name of Regulations

These Regulations are theCorporations Amendment Regulations 2004 (No. 5).

2   Commencement

These Regulations commence as follows:

(a) on 1 July 2004 - regulations 1 to 3 and Schedule 1;

(b) on 1 October 2004 - regulation 4 and Schedule 2.

3   Amendment of Corporations Regulations 2001

Schedules 1 and 2 amend theCorporations Regulations 2001.

4   Transitional

Despite the repeals made by Schedule 2, the provisions repealed continue to have effect in relation to:

(a) a child account issued before 1 October 2004; and

(b) moneys paid in relation to a child account before 1 October 2004; and

(c) a right of return in relation to a child account issued before 1 October 2004.

Schedule 1   Amendments commencing on 1 July 2004

[1]   Subregulation 7.9.01 (1), definition of child contributions

substitute

child contributions means contributions that are made to a regulated superannuation fund or an RSA institution in respect of a child, other than:

(a) contributions made in respect of the child by, or on behalf of, an employer of the child; and

(b) contributions made by a child in respect of himself or herself.

[2]   Subregulation 7.9.01 (1), after definition of remuneration

insert

RSA institution has the meaning given by section 11 of the RSA Act.

[3]   Paragraph 7.9.12A (1) (d)

omit

child.

insert

child;

[4]   After paragraph 7.9.12A (1) (d)

insert

(e) the eligible application is made on or before 31 July 2004;

(f) the issue or sale is made on or before 31 August 2004.

[5]   After subregulation 7.9.68A (4)

insert

(4A) For subsection 1019B (5A) of the Act, the right of return may only be exercised on or before 30 September 2004.

Schedule 2   Amendments commencing on 1 October 2004

[1]   Subregulation 7.9.01 (1), definitions of child account, child contributions and RSA Institution

omit

[2]   Subparagraph 7.9.04 (1) (a) (i)

omit

[3]   Part 7.9, Division 2, Subdivision 2.6

omit

[4]   Regulations 7.9.12A and 7.9.68A

omit

[5]   Subregulation 7.9.74 (3)

omit