Corporations Regulations 2001
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Hide history note[ CCH Note: Pursuant to the Corporations Amendment Regulations 2001 (No 4) (SR 2001 No 319) effective 11 March 2002, Chapter 7 (Securities) comprising reg 7.1.01 - 7.15.01 and Chapter 8 (The futures industry) comprising reg 8.1.01 - 8.7.03 are replaced by a new Chapter 7 (Financial services and markets) comprising reg 7.1.01 - 7.12.01. As the subject matter of the new Chapter 7 relates to the new financial services reform regime, " inserted " has been used in the history notes for each provision, and all references to the former provisions have been removed.]
For paragraph 1017D(5)(g) of the Act, if a protected holder of a superannuation product or RSA ceases to hold the product, a periodic statement must include the following information for the exit reporting period: (a) the contact details of the product provider; (b) the amount of the product holder ' s withdrawal benefit; (c) the amount of any deduction, from the product holder ' s benefits, in connection with payment of a superannuation contributions surcharge, or an advance instalment of surcharge, during the exit reporting period; (d) if there is a difference between the amount deducted and the amount assessed under subsection 15(1) of the Superannuation Contributions Tax (Assessment and Collection) Act 1997 , or between the amount deducted and the amount determined under subsection 15(2) of that Act - a statement explaining the difference; (e) for a superannuation product provided by an unfunded defined benefits fund - details of the surcharge debt account kept by the issuer, under subsection 16(2) of the Superannuation Contributions Tax (Assessment and Collection) Act 1997 , for the holder including:
(i) the balance of the account at the start of the exit reporting period; and
(ii) the amount debited to the account during the exit reporting period for superannuation contributions surcharge that is assessed, by the Commissioner of Taxation, to be payable on the member ' s surchargeable contributions; and
(iii) the amount of interest debited to the account, under subsection 16(4) of that Act, during the exit reporting period; and
(iv) the balance of the account at the end of the exit reporting period.
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