Treasury Laws Amendment (Protecting Your Superannuation Package) Act 2019 (16 of 2019)
Schedule 1 Fees charged to superannuation members
Part 1 Amendments
Superannuation Industry (Supervision) Act 1993
15 After section 99B
Insert:
99BA No exit fees
(1) The trustee, or the trustees, of a regulated superannuation fund or an approved deposit fund must not charge exit fees, except in circumstances prescribed by the regulations.
(2) An exit fee is a fee, other than a buy-sell spread, that relates to the disposal of all or part of a member's interests in a superannuation entity.
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