Federal Register of Legislation - Australian Government

Primary content

Approvals as made
This Approval revokes Superannuation Industry (Supervision) approval of provision of benefits (01/07/1997).
Administered by: Treasury
Exempt from sunsetting by the Legislation (Exemptions and Other Matters) Regulation 2015 s11 item 06
Registered 27 Nov 2007
Tabling HistoryDate
Tabled HR12-Feb-2008
Tabled Senate12-Feb-2008

Superannuation Industry (Supervision) Approval approval of provision of benefits No. 1x of 2007

Superannuation Industry (Supervision) Act 1993

 

 

I, Thomas Karp, a delegate of the Australian Prudential Regulation AuthorityAPRA, :

 

Uunder Ssubsection 33(3) of the Acts Interpretation Act 1901, REVOKE the approval of provision of benefits made under subparagraph 62 (1)(b)(v) of the Superannuation Industry (Supervision) Act 1993 (the "Act") which is dated 1 July 1997; and

 

Under subparagraph 62 (1)(b)(v) of the Superannuation Industry (Supervision) Act 1993 (the Act):

 

·                    REVOKE the approval of provision of benefits made under subparagraph 62(1)(b)(v) of the Act which is dated 1 July 1997; and,

 

·                    APPROVE: the provision of the benefits set out in the Schedule.

 

This instrument comes into force from the date of registration on the Federal Register of Legislative Instruments.

Benefits provided pursuant to Part 6 of the SIS Regulations

 

1.         The provision of benefits for or in respect of each member of the fund which Part 6 of the SIS Regulations

 

(a) permits to be paid (by being cashed, rolled over or transferred); or

 

(b) requires to be paid;

 

including Part 6 of the SIS Regulations as modified by APRA under section 332 of the Act, when, to the  extent that, and to the persons to whom, the fund is permitted or required under Part 6 of the SIS Regulations to pay them.

 

2.         The provision of benefits for or in respect of each member of the fund which Part 6 of the SIS Regulations

 

(a) permits to be paid (by being cashed, rolled over or transferred); or

 

(b) requires to be paid;

 

The provision of benefits in accordance with an exemption made under section 328 of the Act.

Dated  Dated 20       August November 2007

 

 

 

[Signed]

 

………………………

Thomasom Karp

Executive General Manager

Supervisory Servicesupport Division

Interpretation

In this Notice:

APRA means the Australian Prudential Regulation Authority;

Regulator has the same meaning as in section 10 of the Act;

SIS Regulations means the Superannuation Industry (Supervision) Regulations 1994.

Federal Register of Legislative Instruments means the register of that name established from 1 January 2005 under the Legislative Instruments Act 2003.

 


Schedule

 

1.         The provision of benefits for or in respect of each member of the fund which Part 6 of the SIS Regulations

 

(a) permits to be paid (by being cashed, rolled over or transferred); or

 

(b) requires to be paid;

 

when, to the extent that, and to the persons to whom, the fund is permitted or required under Part 6 of the SIS Regulations to pay them.

 

2.         The provision of benefits referred to in paragraph 1 includes:

 

            (a)     provision pursuant to Part 6 of the SIS Regulations as modified by APRA under section 332 of the Act; and

 

            (b)     provision pursuant to Part 6 of the SIS Regulations where the provision of the benefit is facilitated by an exemption made by APRA under section 328 of the Act.