Federal Register of Legislation - Australian Government

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SLI 2011 No. 197 Regulations as made
These Regulations amend the Retirement Savings Accounts Regulations 1997 to provide for the Chief Executive Medicare to act as the regulator for the purpose of the early release of retirement savings accounts benefits on compassionate grounds.
Administered by: Treasury
Made 19 Oct 2011
Registered 21 Oct 2011
Tabled HR 31 Oct 2011
Tabled Senate 31 Oct 2011
Date of repeal 09 Aug 2013
Repealed by Treasury (Spent and Redundant Instruments) Repeal Regulation 2013

Commonwealth Coat of Arms

Retirement Savings Accounts Amendment Regulations 2011 (No. 3)1

Select Legislative Instrument 2011 No. 197

I, QUENTIN BRYCE, Governor-General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following Regulations under the Retirement Savings Accounts Act 1997.

Dated 19 October 2011

QUENTIN BRYCE

Governor-General

By Her Excellency’s Command

BILL SHORTEN


1              Name of Regulations

                These Regulations are the Retirement Savings Accounts Amendment Regulations 2011 (No. 3).

2              Commencement

                These Regulations commence on the commencement of Schedule 1 to the Superannuation Legislation Amendment (Early Release of Superannuation) Act 2011.

3              Amendment of Retirement Savings Accounts Regulations 1997

                Schedule 1 amends the Retirement Savings Accounts Regulations 1997.


Schedule 1        Amendments

(regulation 3)

 

[1]           Subregulation 4.22A (1)

omit each mention of

APRA

insert

the Regulator

[2]           Subregulation 4.22A (2)

omit

APRA must determine in writing that, for subregulation 4.21 (1) or 4.22 (2), the person satisfies a condition of release on a compassionate ground if APRA

insert

The Regulator must determine in writing that, for subregulation 4.21 (1) or 4.22 (2), the person satisfies a condition of release on a compassionate ground if the Regulator

[3]           Subregulations 4.22A (3) and (4)

omit each mention of

APRA

insert

The Regulator

[4]           Subregulation 4.22A (5)

omit

APRA cannot be satisfied that the money is required on the ground mentioned in paragraph (1) (b) unless the person gives to APRA

insert

The Regulator cannot be satisfied that the money is required on the ground mentioned in paragraph (1) (b) unless the person gives to the Regulator


Note

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