Corporations Amendment Regulations 2003 (No. 7) (202 of 2003)

Schedule 2   Amendments commencing on 11 March 2004

[1]   After regulation 7.1.04D

insert

7.1.04E Issue of a new interest in a superannuation fund

(1) This regulation applies if a member of a superannuation fund, who has a superannuation interest in the growth phase, elects to receive a pension in relation to that interest or part of that interest.

(2) For paragraph 761E (7) (a) of the Act, the superannuation fund is taken to issue a new financial product when:

(a) it acknowledges receipt of the member's election; or

(b) it makes the first payment of the pension;

whichever occurs first.

(3) For this regulation:

growth phase has the meaning given by regulation 1.03AB of the SIS Regulations.

pension has the meaning given by subregulation 1.06 (1) of the SIS Regulations.