Pt 25 heading substituted by No 158 of 2012, s 3 and Sch 2 item 41, effective 31 January 2013. For application provisions see note under Pt 16 Div 1A heading. The heading formerly read:

PART 25 - MONITORING AND INVESTIGATING SUPERANNUATION ENTITIES

Div 2 heading substituted by No 158 of 2012, s 3 and Sch 2 item 47, effective 31 January 2013. For application provisions see note under Pt 16 Div 1A heading. The heading formerly read:

Division 2 - Monitoring superannuation entities

S 254(1) substituted by No 67 of 2024, s 3 and Sch 5 item 34, effective 10 July 2024. No 67 of 2024, s 3 and Sch 5 items 38 and 39 contain the following application and transitional provisions:

38 Application of amendments  
(1)
Section 254 of the Superannuation Industry (Supervision) Act 1993 , as amended by this Division, applies in relation to superannuation entities established on or after the commencement of this item.

(2)
The amendments made by this Division do not apply in relation to a notice given under subsection 254(2) of the Superannuation Industry (Supervision) Act 1993 before the commencement of this item.
39 Transitional provision - authorised persons  
39
An authorisation:
(a) made under section 298A of the Superannuation Industry (Supervision) Act 1993 for the purposes of subsection 254(2) of that Act; and
(b) in force immediately before the commencement of this item;

has effect, from that commencement, as if it had been made for the purposes of section 254A of that Act, as inserted by this Division.

S 254(1) formerly read:

254(1)
Each trustee of a superannuation entity established after the commencement of this section must ensure that, within the prescribed period after the establishment of the entity, APRA, or such other body or person as is specified in the regulations, is given such information as is required by the approved form.

Note 1:

The approved form for information required to be given under this subsection may require the trustee to set out the tax file number of the entity. See subsection 299U(8) .

Note 2:

Section 166 imposes an administrative penalty for a contravention of subsection (1) in relation to a self managed superannuation fund.

S 254(1) amended by No 11 of 2014, s 3 and Sch 2 items 23 and 24, by substituting " Note 1 " for " Note " in the note and inserting note 2, applicable to contraventions that occur on or after 1 July 2014.

S 254(1) amended by No 53 of 2004, s 3 and Sch 2 items 257 to 260, by substituting " Each trustee " for " The trustee " , inserting " ensure that " after " must " , substituting " APRA, or " for " give such information to APRA, or to " and inserting " is given such information " after " regulations, " , effective 1 July 2004.

S 254(1) amended by No 24 of 2000, s 3 and Sch 10 items 11 and 12, by substituting " such information to APRA, or to such other body or person as is specified in the regulations, as is required by the approved form " for " the prescribed information to APRA or such other body or person as is specified in the regulations " , and by substituting the Note, effective 12 May 2000. The Note formerly read:

Note:

The prescribed information may include the tax file number of the entity. See subsection 299U(8).

S 254(1) amended by No 121 of 1999, s 3 and Sch 1 item 115, by inserting " or such other body or person is specified in the regulations " after " APRA " , effective 8 October 1999. For transitional and saving provisions, see the history note under the heading to Pt 24B .

S 254(1) amended by No 54 of 1998 and No 76 of 1996.

S 254(1A) repealed by No 67 of 2024, s 3 and Sch 5 item 34, effective 10 July 2024. For application and transitional provisions, see note under s 254(1) . S 254(1A) formerly read:

254(1A)
Without limiting subsection (1), regulations for the purposes of that subsection may specify that information is to be given to different persons or bodies in respect of different classes of superannuation funds.

S 254(1A) inserted by No 121 of 1999, s 3 and Sch 1 item 116, effective 8 October 1999. For transitional and saving provisions, see the history note under the heading to Part 24B .

S 254(2) substituted by No 67 of 2024, s 3 and Sch 5 item 34, effective 10 July 2024. For application and transitional provisions, see note under s 254(1) . S 254(2) formerly read:

254(2)
For the purposes of this Act, the Regulator or an authorised person may, by written notice to a trustee of a superannuation entity, require each trustee of the entity to ensure that, within a specified period, the Regulator or an authorised person is given, in relation to a specified year of income of the entity, such information, or a report on such matters, as is set out in the notice.

Note:

The information may include the tax file number of the entity. See subsection 299U(9).

S 254(2) amended by No 53 of 2004, s 3 and Sch 2 item 261, by substituting all the words (not including the note) after " written notice " , effective 1 July 2004. The words formerly read:

to the trustee of a superannuation entity, require the trustee, within a specified period, to give to the Regulator or to an authorised person in relation to a specified year of income of the entity such information, or a report on such matters, as are set out in the notice.

S 254(2) amended by No 54 of 1998 and No 76 of 1996.

S 254(2A) inserted by No 67 of 2024, s 3 and Sch 5 item 34, effective 10 July 2024. For application and transitional provisions, see note under s 254(1) .

S 254(2B) inserted by No 67 of 2024, s 3 and Sch 5 item 34, effective 10 July 2024. For application and transitional provisions, see note under s 254(1) .

S 254(3) substituted by No 67 of 2024, s 3 and Sch 5 item 34, effective 10 July 2024. For application and transitional provisions, see note under s 254(1) . S 254(3) formerly read:

254(3)
If a trustee of a superannuation entity gives information to APRA or to another person or body as required by subsection (1), APRA or the other person or body must give to the trustee a written statement that the information has been received.

S 254(3) amended by No 53 of 2004, s 3 and Sch 2 item 262, by substituting " If a trustee " for " If the trustee " , effective 1 July 2004.

S 254(3) amended by No 121 of 1999, s 3 and Sch 1 item 117, by substituting " to APRA or to another person or body as required by subsection (1), APRA or the other person or body must give to the trustee a written statement that the information has been received " for all the words after " information " (first occurring), effective 8 October 1999. For transitional and saving provisions, see the history note under the heading to Pt 24B . The substituted text read:

to APRA or an authorised person as required by subsection (1), APRA or authorised person must give to the trustee a written statement that APRA or authorised person has received the information.

S 254(3) amended by No 54 of 1998.

S 254(4) amended by No 82 of 2010, s 3 and Sch 6 item 66, by substituting " Penalty " for " Maximum Penalty " in the penalty, effective 27 July 2010.

S 254(4) amended by No 53 of 2004, s 3 and Sch 2 item 263, by substituting " A trustee " for " The trustee " , effective 1 July 2004.

S 254(4) and (5) substituted for s 254(4) by No 160 of 2000, s 3 and Sch 3 item 63, effective 18 January 2001. S 254(4) formerly read:

254(4)
A person who intentionally or recklessly contravenes subsection (1) is guilty of an offence punishable on conviction by a fine not exceeding 50 penalty units.

S 254(5) amended by No 82 of 2010, s 3 and Sch 6 item 66, by substituting " Penalty " for " Maximum Penalty " in the penalty, effective 27 July 2010.

S 254(5) amended by No 53 of 2004, s 3 and Sch 2 item 263, by substituting " A trustee " for " The trustee " , effective 1 July 2004.

S 254(4) and (5) substituted for s 254(4) by No 160 of 2000, s 3 and Sch 3 item 63, effective 18 January 2001.