Superannuation Industry (Supervision) Regulations 1994

PART 6 - PAYMENT STANDARDS  

Division 6.5 - Compulsory rollover and transfer of superannuation benefits in regulated superannuation funds and approved deposit funds  

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History

Div 6.5 substituted by SR No 251 of 2003, reg 3 and Sch 1 item 10, effective 1 July 2004. Div 6.5 formerly read:

Division 6.5 - Additional standards for eligible rollover funds

REGULATION 6.30 OBLIGATIONS OF TRUSTEES  
6.30(1)
The trustee of an eligible rollover fund must comply, as soon as practicable, with a request by a member:

(a) to pay benefits of the member in the fund; or

(b) for payment of any benefit to be in the form of a lump sum.

6.30(2)

(Omitted by SR No 64 of 1995)

Reg 6.30(2) amended by SR No 189 of 1994.

REGULATION 6.36   SUSPENSION OR VARIATION OF OBLIGATION TO ROLL OVER OR TRANSFER AMOUNTS BY APRA  

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6.36(1)   [Application]  

This regulation applies if APRA believes, on reasonable grounds, that a rollover or transfer of an amount by the trustee of a regulated superannuation fund or approved deposit fund under regulation 6.34 would have a significant adverse effect on:

(a) the financial position of the fund; or

(b) the interests of other members of the fund.

6.36(2)   [APRA may suspend or vary]  

APRA may, by notice in writing to the trustee, suspend or vary an obligation of the trustee under regulation 6.34 .

6.36(3)   [Communication of suspension period]  

A suspension or variation under subregulation (2) applies for the period specified by APRA in the notice.

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History

Reg 6.36 inserted by SR No 251 of 2003, reg 3 and Sch 1 item 10, effective 1 July 2004.

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