Financial Sector Legislation Amendment (Simplifying Regulation and Review) Act 2007 (154 of 2007)

Schedule 1   Streamlining prudential regulation

Part 1   Amendments commencing on Royal Assent

Superannuation Industry (Supervision) Act 1993

153   Sections 335 and 336

Repeal the sections, substitute:

335 Variation and revocation of exemptions and modifications

The Regulator may, in writing, vary or revoke an exemption or declaration under this Part.

336 Notice of exemptions and modifications

If the Regulator:

(a) makes an exemption or modification under this Part that applies to a particular person or a particular group of individual trustees; or

(b) varies or revokes such an exemption or modification;

the Regulator must also notify the person or group in writing of the making, variation or revocation.