Federal Register of Legislation - Australian Government

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Corporations Amendment Regulations 2007 (No. 1)

Authoritative Version
  • - F2007L01122
  • No longer in force
SLI 2007 No. 102 Regulations as made
These Regulations support the implementation of the Simplified Superannuation reforms and complement other regulations registered on 2 April 2007 and 13 April 2007.
Administered by: Treasury
Made 26 Apr 2007
Registered 27 Apr 2007
Tabled HR 08 May 2007
Tabled Senate 09 May 2007
Date of repeal 09 Aug 2013
Repealed by Treasury (Spent and Redundant Instruments) Repeal Regulation 2013

Corporations Amendment Regulations 2007 (No. 1)1

Select Legislative Instrument 2007 No. 102

I, PHILIP MICHAEL JEFFERY, Governor‑General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following Regulations under the Corporations Act 2001.

Dated 26 April 2007

P. M. JEFFERY

Governor‑General

By His Excellency’s Command

PETER CRAIG DUTTON


1              Name of Regulations

                These Regulations are the Corporations Amendment Regulations 2007 (No. 1).

2              Commencement

                These Regulations commence on 1 July 2007.

3              Amendment of Corporations Regulations 2001

                Schedule 1 amends the Corporations Regulations 2001.


Schedule 1        Amendments

(regulation 3)

  

[1]           Subregulation 1.0.02 (1), definition of eligible termination payment

omit

[2]           Subregulation 1.0.02 (1), definition of superannuation scheme

substitute

superannuation lump sum has the meaning given by subsection 995‑1 (1) of the Income Tax Assessment Act 1997.

superannuation scheme means a complying superannuation fund within the meaning of subsection 995‑1 (1) of the Income Tax Assessment Act 1997.

[3]           Subregulation 1.0.02 (1), definition of superannuation‑sourced money, subparagraph (a) (i)

omit

an eligible termination payment

insert

a superannuation lump sum

[4]           Subregulation 1.0.02 (1), definition of superannuation‑sourced money, subparagraph (a) (ii)

omit

paid in that way

insert

paid as an eligible termination payment (within the meaning of these Regulations as in force immediately before 1 July 2007) or as a superannuation lump sum

[5]           Subregulation 7.9.01 (1), definition of superannuation provider

substitute

superannuation provider means any of the following:

                (a)    the trustee of a complying superannuation fund, within the meaning of subsection 995‑1 (1) of the Income Tax Assessment Act 1997;

               (b)    the provider of an RSA, within the meaning of section 12 of the Retirement Savings Accounts Act 1997;

                (c)    the trustee of a constitutionally protected fund, within the meaning of subsection 995‑1 (1) of the Income Tax Assessment Act 1997.


Note

1.       All legislative instruments and compilations are registered on the Federal Register of Legislative Instruments kept under the Legislative Instruments Act 2003. See www.frli.gov.au.