Superannuation Industry (Supervision) Amendment Regulation 2013 (No. 2)

(86 of 2013)

16 May 2013

Superannuation Industry (Supervision) Act 1993

1   Name of regulation

This regulation is theSuperannuation Industry (Supervision) Amendment Regulation 2013 (No. 2).

2   Commencement

This regulation commences on 1 July 2013.

3   Authority

This regulation is made under theSuperannuation Industry (Supervision) Act 1993.

4   Schedule(s)

Each instrument that is specified in a Schedule to this instrument is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its terms.

Schedule 1   Amendments

Superannuation Industry (Supervision) Regulations 1994

1   Subregulation 1.03 (1), definition of excluded member

Repeal the definition.

2   Subregulation 1.03 (1), definition of member-protection standards

Repeal the definition.

3   Regulation 1.03B

Repeal the regulation.

4   Regulation 5.01B (note)

Repeal the note, substitute:

Note:This regulation was amended with effect from 1 July 2013 as part of changes to the former member protection standards. A trustee might choose to continue to protect the benefits of all members from 1 July 2013 until when the trustee starts to enrol members in the MySuper product.

5   Subregulation 5.02 (3)

Omit "the member-protection standards and".

6   Regulation 5.02A

Repeal the regulation.

7   Subregulation 5.03 (2)

Omit "the member-protection standards,".

8   Division 5.5

Repeal the Division.

9   Division 5.6

Repeal the Division.

10   Subregulation 10.06 (3)

Repeal the subregulation, substitute: