Federal Register of Legislation - Australian Government

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No. 2 of 2007 Declarations/Superannuation as made
This instrument declares that regulation 7.04 of the Superannuation Industry (Supervision) Regulations 1994 has effect in relation to the class of persons described in the attached Schedule, as if it were modified in the manner specified in the attached Schedule.
Administered by: Treasury
Exempt from sunsetting by the Legislation (Exemptions and Other Matters) Regulation 2015 s11 item 06
Registered 31 Jul 2007
Tabling HistoryDate
Tabled HR07-Aug-2007
Tabled Senate07-Aug-2007

 

 

 

 

 

 

 

 

Superannuation Industry (Supervision)

modification declaration No. 2 of 2007

 

 

Superannuation Industry (Supervision) Act 1993

 

 

 

I, Thomas Karp, a delegate of APRA, under section 332 of the Superannuation Industry

(Supervision) Act 1993 (the Act), DECLARE that 7.04 of the Regulations has effect in

relation to the class of persons described in the attached Schedule, as if it were modified in the manner specified in the attached Schedule.

 

This declaration comes into force upon registration of this instrument on the Federal Register

of Legislative Instruments.

 

Dated  31 July 2007

 

 

 

[Signed]

 

Thomas Karp

Executive General Manager

Supervisory Support Division

 

Interpretation                                                                                                                              Document ID: 147630

In this instrument

APRA means the Australian Prudential Regulation Authority.

Federal Register of Legislative Instruments means the register established under section 20

of the Legislative Instruments Act 2003.

Regulations means the Superannuation Industry (Supervision) Regulations 1994.


 

Note 1


This instrument is a legislative instrument for the purposes of the Legislative Instruments Act 2003


(the LIA) (see section 5 and Item 15 of section 7 of the LIA). Under section 56 of the LIA, the obligation under section 336 of the Act, to publish this exemption in the Gazette, is satisfied by its registration on the Federal Register of Legislative Instruments.


 

 

 

 

 

 


Note 2


Under paragraph (zb) of the definition of reviewable decision in subsection 10(1) of the Act, the


decision to make this declaration is a reviewable decision. If you are dissatisfied with this decision, you may request APRA to reconsider it in accordance with subsection 344(1) of the Act. The request for

reconsideration must be made in writing, must set out the reasons for making the request, and must be given to APRA within 21 days after the day on which you first received notice of this decision, or within such further period as APRA allows. If you are dissatisfied with the outcome of APRA’s reconsideration of the decision,

you may, subject to the Appeals Tribunal Act 1975, apply to the Administrative Appeals Tribunal for review

of the reconsidered decision.


 

Note 3


The address where the request for reconsideration referred to in this instrument may be given to


APRA, is Level 26, 400 George Street, Sydney, NSW 2000.


 

 

 

 

 

 

Schedule - the class of persons to whom this declaration

applies

All RSE Licensees


 

 

 

 

 

 

Schedule - the manner in which the specified modifiable

provisions are modified

 

 

 

Regulation 7.04 of the Regulations is modified by replacing subparagraph (4)(a)(i) with:

 

for an amount received in a manner that is inconsistent with subregulation (2):

 

(A)      the member's tax file number is quoted (for superannuation purposes)

within 30 days of this amount being received by the trustee of the fund; or

 

 

(B)      the members only interest in the fund is a risk insurance interest and, by 31 December 2007:

 

 

I.       the member's tax file number is quoted (for superannuation purposes); or

 

 

II        the trustee of the fund returns the amount received to the entity or person that paid the amount; or