Corporations Amendment Regulations 2007 (No. 1)

(102 of 2007)

26 April 2007

Corporations Act 2001

1   Name of Regulations

These Regulations are the Corporations Amendment Regulations 2007 (No. 1).

2   Commencement

These Regulations commence on 1 July 2007.

3   Amendment of Corporations Regulations 2001

Schedule 1 amends the Corporations Regulations 2001.

Schedule 1   Amendments

[1]   Subregulation 1.0.02 (1), definition of eligible termination payment

omit

[2]   Subregulation 1.0.02 (1), definition of superannuation scheme

substitute

superannuation lump sum has the meaning given by subsection 995-1 (1) of the Income Tax Assessment Act 1997.

superannuation scheme means a complying superannuation fund within the meaning of subsection 995-1 (1) of the Income Tax Assessment Act 1997.

[3]   Subregulation 1.0.02 (1), definition of superannuation-sourced money, subparagraph (a) (i)

omit

an eligible termination payment

insert

a superannuation lump sum

[4]   Subregulation 1.0.02 (1), definition of superannuation-sourced money, subparagraph (a) (ii)

omit

paid in that way

insert

paid as an eligible termination payment (within the meaning of these Regulations as in force immediately before 1 July 2007) or as a superannuation lump sum

[5]   Subregulation 7.9.01 (1), definition of superannuation provider

substitute

superannuation provider means any of the following:

(a) the trustee of a complying superannuation fund, within the meaning of subsection 995-1 (1) of the Income Tax Assessment Act 1997;

(b) the provider of an RSA, within the meaning of section 12 of the Retirement Savings Accounts Act 1997;

(c) the trustee of a constitutionally protected fund, within the meaning of subsection 995-1 (1) of the Income Tax Assessment Act 1997.