Superannuation Industry (Supervision) Regulations 1994
Subject to subregulation (4), the trustee of a defined benefit fund that is technically insolvent must initiate winding-up proceedings in accordance with this Division if:
(a) the fund fails to comply with regulations 9.17 , 9.18 or 9.19 during the period of technical insolvency; or
(b) the superannuation actuary is unable to certify the solvency of the fund at the end of that period;
and regulation 9.24 does not apply.
View history note
Hide history noteWinding-up proceedings initiated under subregulation (1) must be carried out in accordance with this Division.
9.23(3) [Proceedings initiated under other conditions]Subject to subregulation (4), if a trustee of a defined benefit fund to which this Division applies initiates winding-up proceedings in relation to the fund otherwise than under subregulation (1), the winding-up proceedings must be carried out in accordance with this Division.
9.23(4) [Winding-up schemes by the Regulator]This regulation does not apply to a defined benefit fund in respect of which the Regulator formulates a scheme for the winding-up of the fund.
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