Superannuation Industry (Supervision) Regulations 1994
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Hide history noteThis regulation applies if the trustee of a regulated superannuation fund or approved deposit fund applies to APRA for a suspension or variation of the trustee's obligation to roll over or transfer amounts under regulation 6.34 .
6.37(2) [Required information]The application must contain information about the fund's financial position and the effect of any rollovers or transfers of amounts under regulation 6.34 on:
(a) the financial position of the fund; or
(b) the interests of other members of the fund. 6.37(3) [Request for further information]
APRA may ask the trustee to provide further information in relation to the application within the period specified by APRA.
6.37(4) [If request for further information not met]If the trustee does not provide the further information within the specified period, APRA may treat the application as if it had been withdrawn by the trustee.
6.37(5) [APRA's decision: timing]APRA must consider the application and notify the trustee of its decision in writing, within 30 days after the later of:
(a) the day APRA receives the application; and
(b) the day APRA receives the further information. 6.37(6) [APRA's decision: grounds and notice]
If APRA believes, on reasonable grounds, that a rollover or transfer of an amount 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;
APRA may, by notice in writing to the trustee, suspend or vary an obligation of the trustee under regulation 6.34 .
6.37(7) [Application of variation, etc]A suspension or variation under subregulation (6) applies for the period specified by APRA in the notice.
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