Superannuation Industry (Supervision) Act 1993
View history note
Hide history noteThe Regulator may give a written notice to a trustee of an entity stating:
(a) whether the entity is or is not a complying superannuation fund; or (b) whether the entity is or is not a complying approved deposit fund; or (c) whether the entity is or is not a pooled superannuation trust;as the case may be, in relation to a year of income specified in the notice.
If the Regulator gives a notice to a trustee of an entity stating that:
(a) the entity is not a complying superannuation fund; or (b) the entity is not a complying approved deposit fund; or (c) the entity is not a pooled superannuation trust;as the case may be, in relation to a year of income, the notice must set out the reasons why the Regulator so stated.
When the APRA gives a notice under this section, APRA must give particulars of the notice to the Commissioner of Taxation.
Note:
A statement of the tax file number of the entity may accompany the particulars of the notice. See subsection 299U(3) .
If:
(a) the Regulator gives a notice under this section (the original notice ) to a trustee of an entity stating that:
(i) the entity is a complying superannuation fund; or
(ii) the entity is a complying approved deposit fund; or
as the case may be, in relation to a year of income; and (b) the Regulator subsequently gives a notice under this section (the second notice ) to a trustee of the entity stating that:
(iii) the entity is a pooled superannuation trust;
(i) the entity is not a complying superannuation fund; or
(ii) the entity is not a complying approved deposit fund; or
as the case may be, in relation to the year of income;
(iii) the entity is not a pooled superannuation trust;
the second notice is taken to revoke the original notice.
Note:
Because " the Regulator " is whichever of APRA or the Commissioner of Taxation is administering this provision in respect of a fund, a notice given by one of those Regulators could revoke a notice given by the other Regulator. This might happen if a fund became, or stopped being, a self managed superannuation fund after the first notice was given.
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