Superannuation Industry (Supervision) Amendment Regulations 2008 (No. 2)

(134 of 2008)

Dated 24 June 2008

Superannuation Industry (Supervision) Act 1993

1   Name of Regulations

These Regulations are the Superannuation Industry (Supervision) Amendment Regulations 2008 (No. 2).

2   Commencement

(1) These Regulations are taken to have commenced on 4 October 2007.

(2) However, for the period starting on 4 October 2007 and ending immediately before the day on which these Regulations are registered, the amendment made by item [1] of Schedule 1 does not apply to the extent to which:

(a) the rights of a person (other than the Commonwealth or an authority of the Commonwealth) as at the day on which these Regulations are registered would be affected so as to disadvantage that person; or

(b) liabilities would be imposed on a person (other than the Commonwealth or an authority of the Commonwealth) in respect of anything done or omitted to be done before the day on which these Regulations are registered.

3   Amendment of Superannuation Industry (Supervision) Regulations 1994

Schedule 1 amends the Superannuation Industry (Supervision) Regulations 1994.

Schedule 1   Amendments

[1]   Regulation 8.02A

substitute

8.02A Period within which an auditor must be appointed (Act s 35C)

For subsection 35C (1) of the Act, the following periods are prescribed:

(a) for a registrable superannuation entity - as soon as practicable, but in any event, no later than the last day of each year of income;

(b) for a self managed superannuation fund - as soon as practicable but, in any event, no later than 30 days before the date by which the auditor must give a report mentioned in subsection 35C (6) of the Act to the trustees of the fund.

Note See regulation 8.03 for the period within which a report mentioned in subsection 35C (6) of the Act must be provided.

[2]   Paragraph 8.03 (a)

omit

section 36A

insert

section 35D