Superannuation Industry (Supervision) Amendment Regulations 2011 (No. 3)

(146 of 2011)

Dated 4 August 2011

Superannuation Industry (Supervision) Act 1993

[1]   Name of Regulations

These Regulations are the Superannuation Industry (Supervision) Amendment Regulations 2011 (No. 3).

[2]   Commencement

These Regulations commence on the day after they are registered.

[3]   Amendment of Superannuation Industry (Supervision) Regulations 1994

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

Schedule 1   Amendment

[1]   After subregulation 1.04 (4A)

insert

(4AA) A scheme that is listed, or established by or operated under legislation that is listed, in Schedule 1AA ceases to be an exempt public sector superannuation scheme at the time it is registered as a registrable superannuation entity under Division 2 of Part 2B of the Act.

[2]   Subregulation 4.02 (2), after the example

insert

Note Information regarding investment strategies is generally set out in a Product Disclosure Statement. However, a shorter Product Disclosure Statement may, in accordance with the modifications of theCorporations Act 2001 set out in Part 5B of Schedule 10A to theCorporations Regulations 2001:

(a) provide some of the information by applying, adopting or incorporating a matter in writing; or

(b) refer to information that is set out in another document.

[3]   After subregulation 5.08 (1)

insert

(1A) Subregulation (1) does not apply if, under a law of the Commonwealth, a State or a Territory mentioned in the table, a court makes a forfeiture order (however called) forfeiting part or all of the member’s benefits in the fund to the Commonwealth, a State or a Territory.

[4]   After subregulation 6.17 (2B)

insert

(2C) This regulation does not apply if, under a law of the Commonwealth, a State or a Territory mentioned in the table, a court makes a forfeiture order (however called) forfeiting part or all of the member’s benefits in the fund to the Commonwealth, a State or a Territory.

[5]   Subregulation 6.22 (1)

after

Subject to

insert

subregulation (6) and

[6]   After subregulation 6.22 (5)

insert

(6) This regulation does not apply if, under a law of the Commonwealth, a State or a Territory mentioned in the table, a court makes a forfeiture order (however called) forfeiting part or all of the member’s benefits in the fund to the Commonwealth, a State or a Territory.

[7]   Schedule 1AA, Part 3, Commonwealth

after

Defence Forces Retirement Benefits Act 1948

insert

Federal Magistrates Act 1999

[8]   Schedule 1AA, Part 3, New South Wales

omit

First State Superannuation Act 1992

Public Sector Executives Superannuation Act 1989

[9]   Schedule 1AA, Part 3, Victoria

omit

Coal Mines (Pensions) Act 1958

County Court (Jurisdictions) Act 1968

Hospitals Superannuation Act 1988

Justices Act 1958

Local Authorities Superannuation Act 1988

[10]   Schedule 1AA, Part 3, Victoria

omit

Magistrates (Summary Proceedings) Act 1975

insert

Magistrates’ Court Act 1989

[11]   Schedule 1AA, Part 3, Victoria

omit

Mint Act 1958

[12]   Schedule 1AA, Part 3, Victoria

omit

Public Sector Superannuation (Administration) Act 1993

insert

State Employees Retirement Benefits Act 1979

[13]   Schedule 1AA, Part 3, Victoria

after

Supreme Court Act 1986

insert

Transport Superannuation Act 1988

[14]   Schedule 1AA, Part 3, Queensland

omit

Parliamentary Contributory Superannuation Fund

[15]   Schedule 1AA, Part 3, South Australia

omit

Southern State Superannuation Act 1994

insert

Southern State Superannuation Act 2009

[16]   Schedule 1AA, Part 3, Western Australia

omit

Government Employees Superannuation Act 1987

[17]   Schedule 1AA, Part 3, Australian Capital Territory

omit

Superannuation (Legislative Assembly Members) Act 1991

insert

Legislative Assembly (Members’ Superannuation) Act 1991

Note

1. All legislative instruments and compilations are registered on the Federal Register of Legislative Instruments kept under theLegislative Instruments Act 2003.See http://www.frli.gov.au .