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Superannuation Industry (Supervision) Regulations 1994

Authoritative Version
  • - F2015C00472
  • In force - Superseded Version
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SR 1994 No. 57 Regulations as amended, taking into account amendments up to Tax and Superannuation Laws Amendment (Release Conditions for Non-concessional Contributions) Regulation 2015
Principal Regulations. These Regulations repeal the Superannuation Industry (Supervision) (Approval of Trustees) Regulations (SR 1993 No. 373).
Administered by: Treasury
Registered 02 Jun 2015
Start Date 02 Jun 2015
End Date 30 Jun 2015
Table of contents.

Superannuation Industry (Supervision) Regulations 1994

Statutory Rules No. 57, 1994

made under the

Superannuation Industry (Supervision) Act 1993

Compilation No. 94

Compilation date:                              2 June 2015

Includes amendments up to:            SLI No. 79, 2015

Registered:                                         2 June 2015

This compilation is in 2 volumes

Volume 1:       regulations 1.0114.07

Volume 2:       Schedules and Endnotes

Each volume has its own contents

 

About this compilation

This compilation

This is a compilation of the Superannuation Industry (Supervision) Regulations 1994 that shows the text of the law as amended and in force on 2 June 2015 (the compilation date).

This compilation was prepared on 2 June 2015.

The notes at the end of this compilation (the endnotes) include information about amending laws and the amendment history of provisions of the compiled law.

Uncommenced amendments

The effect of uncommenced amendments is not shown in the text of the compiled law. Any uncommenced amendments affecting the law are accessible on ComLaw (www.comlaw.gov.au). The details of amendments made up to, but not commenced at, the compilation date are underlined in the endnotes. For more information on any uncommenced amendments, see the series page on ComLaw for the compiled law.

Application, saving and transitional provisions for provisions and amendments

If the operation of a provision or amendment of the compiled law is affected by an application, saving or transitional provision that is not included in this compilation, details are included in the endnotes.

Modifications

If the compiled law is modified by another law, the compiled law operates as modified but the modification does not amend the text of the law. Accordingly, this compilation does not show the text of the compiled law as modified. For more information on any modifications, see the series page on ComLaw for the compiled law.

Self‑repealing provisions

If a provision of the compiled law has been repealed in accordance with a provision of the law, details are included in the endnotes.

  

  

  


Contents

Schedule 1AAA—Approved auditors—professional organisations             1

Schedule 1AA                                                                                                                     2

Part 1—Exempt public sector superannuation schemes (1994‑95 and 1995‑96 years of income)            2

Part 2—Exempt public sector superannuation schemes (1996‑97 year of income)           6

Part 3—Exempt public sector superannuation schemes (1997‑98 year of income and subsequent years of income)                                                                                                                    10

Schedule 1A—Payment limits for annuities and pensions with a commencement day before 1 January 2006                                                           13

Schedule 1AAB—Payment limits for annuities and pensions with a commencement day on and after 1 January 2006                              19

Schedule 1B—Pension valuation factors                                             25

Schedule 1Conditions of release of benefits                               29

Part 1—Regulated superannuation funds                                                            29

Part 2—Approved deposit funds                                                                                34

Schedule 2—Modifications of the OSS laws in relation to preserved benefits in regulated superannuation funds                                 38

Part 1—Modifications of the Occupational Superannuation Standards Act 1987            38

Part 2—Modifications of the Occupational Superannuation Standards Regulations     39

Schedule 2ARequest form for transfer of whole balance of superannuation benefits to fund other than self managed superannuation fund           42

Schedule 2BRequest form for transfer of whole balance of superannuation benefits to self managed superannuation fund                  46

Schedule 3—Prescribed form of advertisement of scheme for winding‑up or dissolution                                                                                                                         50

Schedule 4—Approved bodies                                                                       51

Schedule 6—Payments for market linked income streams 54

Schedule 7Minimum payment amount for a superannuation income stream           58

Endnotes                                                                                                                                    61

Endnote 1—About the endnotes                                                                            61

Endnote 2—Abbreviation key                                                                                62

Endnote 3—Legislation history                                                                             63

Endnote 4—Amendment history                                                                           71

 


Schedule 1AAAApproved auditors—professional organisations

(subregulation 1.04(2))

  

 

Item

Professional Organisation

Manner of Association

1.

CPA Australia Limited

Member

2.

The Institute of Chartered Accountants in Australia

Member

3.

Institute of Public Accountants

Member or Fellow

4.

Association of Taxation and Management Accountants

Member or Fellow

5.

National Tax and Accountants Association Ltd

Fellow

6.

SMSF Professionals’ Association of Australia Limited

SMSF Specialist Auditor

Schedule 1AA  

(subregulation 1.04(4A))

Part 1Exempt public sector superannuation schemes (1994‑95 and 1995‑96 years of income)

Commonwealth

Schemes established by or operated under:

            Defence Act 1903

            Defence Force Retirement and Death Benefits Act 1973

            Governor‑General Act 1974

            Judges’ Pensions Act 1968

            Parliamentary Contributory Superannuation Act 1948

New South Wales

Schemes established by or operated under:

            First State Superannuation Act 1992

            Judges’ Pensions Act 1953

            Local Government and other Authorities (Superannuation) Act 1927

            New South Wales Retirement Benefits Act 1972

            Parliamentary Contributory Superannuation Act 1971

            Police Regulation (Superannuation) Act 1906

            Public Authorities Superannuation Act 1985

            Public Sector Executives Superannuation Act 1989

            State Authorities Non‑contributory Superannuation Act 1987

            State Authorities Superannuation Act 1987

            State Public Service Superannuation Act 1985

            Superannuation Act 1916

            Superannuation Administration Act 1991

            Transport Employees Retirement Benefits Act 1967

Victoria

Schemes established by or operated under:

            Attorney‑General and Solicitor General Act 1972

            Coal Mines (Pensions) Act 1958

            Constitution Act 1975

            County Court Act 1958

            Judicial Remuneration Tribunal Act 1995

            Justices Act 1958

            Magistrates Courts Act 1989

            Magistrates (Summary Proceedings) Act 1975

            Mint Act 1958

            Ombudsman Act 1973

            Public Prosecutions Act 1994

            Supreme Court Act 1986

Schemes established under trust deeds:

            City of Melbourne Superannuation Fund

            County Court Associates Superannuation Scheme

            Emergency Services Superannuation Scheme

            Gas and Fuel Superannuation Fund

            Holmesglen Construction Superannuation Plan

            Hospitals Superannuation Fund

            Local Authorities Superannuation Fund

            Melbourne Water Corporation Employees’ Superannuation Fund

            Parliamentary Contributory Superannuation Fund

            Pharmaceutical Organisations Superannuation Fund

            Port of Geelong Authority Superannuation Fund

            Port of Melbourne Authority Superannuation Scheme

            State Casual Employees Superannuation Fund

            State Employees Retirement Benefits Fund

            State Superannuation Fund

            Supreme Court Associates Superannuation Scheme

            Transport Superannuation Fund

            Victorian Electricity Industry Superannuation Fund

            Victorian Superannuation Fund

            Zoological Board of Victoria Superannuation Fund

Queensland

Schemes established by or operated under:

            Fire Service Act 1990

            Governors’ Pensions Act 1977

            Judges (Pensions and Long Leave) Act 1957

            Parliamentary Contributory Superannuation Act 1970

            Police Superannuation Act 1974

            State Service Superannuation Act 1972

            Superannuation (Government and Other Employees) Act 1988

            Superannuation (State Public Sector) Act 1990

South Australia

Schemes established by or operated under:

            Electricity Corporations Act 1994

            Governors’ Pensions Act 1976

            Judges’ Pensions Act 1971

            Parliamentary Superannuation Act 1974

            Police Superannuation Act 1990

            Southern State Superannuation Act 1994

            Superannuation Act 1988

            Superannuation (Benefit Scheme) Act 1992

Schemes established under trust deeds

            Lyell McEwen Health Service Incorporated Superannuation Fund

            Police Occupational Superannuation Scheme

Western Australia

Schemes established by or operated under:

            Government Employees Superannuation Act 1987

            Judges’ Salaries and Pensions Act 1950

            Parliamentary Superannuation Act 1970

            Superannuation and Family Benefits Act 1938

Tasmania

Schemes established by or operated under:

            Judges’ Contributory Pensions Act 1968

            Parliamentary Retiring Benefits Act 1985

            Parliamentary Superannuation Act 1973

            Retirement Benefits Act 1993

            Solicitor‑General Act 1983

Australian Capital Territory

Schemes established by or operated under:

            Superannuation (Legislative Assembly Members) Act 1991

Northern Territory

Schemes established by or operated under:

            Administrators Pension Act 1981

            Legislative Assembly Members’ Superannuation Act 1979

            Superannuation Act 1986

            Supreme Court (Judges Pensions) Act 1980

Schemes established under trust deeds or other means

            Northern Territory Police Supplementary Benefit Scheme

            Northern Territory Supplementary Superannuation Scheme

Part 2Exempt public sector superannuation schemes (1996‑97 year of income)

Commonwealth

Schemes established by or operated under:

            Defence Act 1903

            Defence Force Retirement and Death Benefits Act 1973

            Governor‑General Act 1974

            Judges’ Pensions Act 1968

            Parliamentary Contributory Superannuation Act 1948

New South Wales

Schemes established by or operated under:

            First State Superannuation Act 1992

            Judges’ Pensions Act 1953

            Local Government and Other Authorities (Superannuation) Act 1927

            New South Wales Retirement Benefits Act 1972

            Parliamentary Contributory Superannuation Act 1971

            Police Regulation (Superannuation) Act 1906

            Public Authorities Superannuation Act 1985

            Public Sector Executives Superannuation Act 1989

            State Authorities Non‑contributory Superannuation Act 1987

            State Authorities Superannuation Act 1987

            State Public Service Superannuation Act 1985

            Superannuation Act 1916

            Superannuation Administration Act 1996

            Transport Employees Retirement Benefits Act 1967

Victoria

Schemes established by or operated under:

            Attorney General and Solicitor General Act 1972

            Coal Mines (Pensions) Act 1958

            Constitution Act 1975

            County Court Act 1958

            County Court (Jurisdictions) Act 1968

            Emergency Services Superannuation Act 1986

            Hospitals Superannuation Act 1988

            Justices Act 1958

            Local Authorities Superannuation Act 1988

            Magistrates (Summary Proceedings) Act 1975

            Mint Act 1958

            Ombudsman Act 1973

            Parliamentary Salaries and Superannuation Act 1968

            Port of Geelong Authority Act 1958

            Port of Melbourne Authority Act 1958

            Public Prosecutions Act 1994

            Public Sector Superannuation (Administration) Act 1993

            State Superannuation Act 1988

            Supreme Court Act 1986

Queensland

            Government Officers’ Superannuation Scheme (GoSuper)

            Governors’ Pension Scheme

            Judges Pension Scheme

            Parliamentary Contributory Superannuation Fund

            Police Superannuation Fund (Police Super)

            Queensland Fire Service Superannuation Plan

            State Service Superannuation Fund (State Super)

South Australia

Schemes established by or operated under:

            Electricity Corporations Act 1994

            Governors’ Pensions Act 1976

            Judges’ Pensions Act 1971

            Parliamentary Superannuation Act 1974

            Police Superannuation Act 1990

            Southern State Superannuation Act 1994

            Superannuation Act 1988

            Superannuation (Benefit Scheme) Act 1992

Schemes established by or under trust deeds

            Lyell McEwen Health Service Incorporated Superannuation Fund

            Police Occupational Superannuation Scheme

Western Australia

Schemes established by or operated under:

            Government Employees Superannuation Act 1987

            Judges’ Salaries and Pensions Act 1950

            Parliamentary Superannuation Act 1970

            Superannuation and Family Benefits Act 1938

Tasmania

Schemes established by or operated under:

            Governor of Tasmania Act 1982

            Judges’ Contributory Pensions Act 1968

            Parliamentary Retiring Benefits Act 1985

            Parliamentary Superannuation Act 1973

            Retirement Benefits Act 1993

            Solicitor‑General Act 1983

Australian Capital Territory

Schemes established by or operated under:

            Superannuation (Legislative Assembly Members) Act 1991

Northern Territory

Schemes established by or operated under:

            Administrators Pension Act 1981

            Legislative Assembly Members’ Superannuation Act 1979

            Superannuation Act 1986

            Supreme Court (Judges Pensions) Act 1980

Other schemes

            Northern Territory Police Supplementary Benefit Scheme

            Northern Territory Supplementary Superannuation Scheme

Part 3Exempt public sector superannuation schemes (1997‑98 year of income and subsequent years of income)

Commonwealth

Schemes established by or operated under:

            Defence Act 1903

            Defence Force Retirement and Death Benefits Act 1973

            Defence Forces Retirement Benefits Act 1948

            Federal Magistrates Act 1999

            Governor‑General Act 1974

            Judges’ Pensions Act 1968

            Papua New Guinea (Staffing Assistance) Act 1973

            Parliamentary Contributory Superannuation Act 1948

            Superannuation Act 1922

New South Wales

Schemes established by or operated under:

            Judges’ Pensions Act 1953

            Local Government and Other Authorities (Superannuation) Act 1927

            New South Wales Retirement Benefits Act 1972

            Parliamentary Contributory Superannuation Act 1971

            Police Regulation (Superannuation) Act 1906

            Public Authorities Superannuation Act 1985

            State Authorities Non‑contributory Superannuation Act 1987

            State Authorities Superannuation Act 1987

            State Public Service Superannuation Act 1985

            Superannuation Act 1916

            Superannuation Administration Act 1996

            Transport Employees Retirement Benefits Act 1967

Victoria

Schemes established by or operated under:

            Attorney General and Solicitor General Act 1972

            Constitution Act 1975

            County Court Act 1958

            Emergency Services Superannuation Act 1986

            Magistrates’ Court Act 1989

            Ombudsman Act 1973

            Parliamentary Salaries and Superannuation Act 1968

            Police Regulation Act 1958

            Public Prosecutions Act 1994

            State Employees Retirement Benefits Act 1979

            State Superannuation Act 1988

            Supreme Court Act 1986

            Transport Superannuation Act 1988

Queensland

            Governors’ Pension Scheme

            Judges Pension Scheme

South Australia

Schemes established by or operated under:

            Electricity Corporations Act 1994

            Governors’ Pensions Act 1976

            Judges’ Pensions Act 1971

            Parliamentary Superannuation Act 1974

            Police Superannuation Act 1990

            Southern State Superannuation Act 2009

            Superannuation Act 1988

Other schemes

            Super SA Select

Western Australia

Schemes established by or operated under:

            Judges’ Salaries and Pensions Act 1950

            Parliamentary Superannuation Act 1970

            State Superannuation Act 2000

Tasmania

Schemes established by or operated under:

            Judges’ Contributory Pensions Act 1968

            Public Sector Superannuation Reform Act 1999

            Retirement Benefits Act 1993

            Retirement Benefits (Parliamentary Superannuation) Regulations 2012

Australian Capital Territory

Schemes established by or operated under:

            Legislative Assembly (Members’ Superannuation) Act 1991

            Supreme Court Act 1933

Northern Territory

Schemes established by or operated under:

            Administrators Pension Act 1981

            Legislative Assembly Members’ Superannuation Act 1979

            Superannuation Act 1986

            Supreme Court (Judges Pensions) Act 1980

Other schemes

            Northern Territory Police Supplementary Benefit Scheme

            Northern Territory Supplementary Superannuation Scheme

Schedule 1APayment limits for annuities and pensions with a commencement day before 1 January 2006

(subregulations 1.05(4) and 1.06(4))

  

1.                Subject to clauses 3, 4 and 5, the maximum limits mentioned in paragraph 1.05(4)(f) or 1.06(4)(e) are determined under the formula:

                  

where:

AB means the amount of the annuity account balance, or pension account balance, as the case requires:

                     (a)  on 1 July in the financial year in which the payments are made; or

                     (b)  if that year is the year in which the annuity payments, or pension payments, commence—on the commencement day; and

PVF means the maximum pension valuation factor set out in Column 3 in the Table in this Schedule in relation to the item in the Table that represents the age of the beneficiary on:

                     (a)  1 July in the financial year in which the payments are made; or

                     (b)  if that is the year in which the annuity payments, or pension payments, commence—the commencement day.

2.                Subject to clauses 3, 3A, 3B and 4, the minimum limits mentioned in paragraph 1.05(4)(f) or 1.06(4)(e) are determined under the formula:

                  

where:

AB means the amount of the annuity account balance, or pension account balance, as the case requires:

                     (a)  on 1 July in the financial year in which the payments are made; or

                     (b)  if that year is the year in which the annuity payments, or pension payments, commence—on the commencement day; and

PVF means the minimum pension valuation factor set out in Column 4 in the Table to this Schedule in relation to the item in the Table that represents the age of the beneficiary on:

                     (a)  1 July in the financial year in which the payments are made; or

                     (b)  if that is the year in which the annuity payments, or pension payments, commence—the commencement day.

3.                For a calculation of the maximum or minimum limit in the year in which the commencement day of the pension or annuity occurs if that day is a day other than 1 July, the appropriate value set out in Column 3 or Column 4 must be applied proportionally to the number of days in the financial year that include and follow the commencement day.

3A.             For the financial years commencing on 1 July 2008, 1 July 2009 and 1 July 2010, the minimum limit is half of the amount determined under the formula in clause 2.

3B.              For the financial years commencing on 1 July 2011 and 1 July 2012, the minimum limit is 75% of the amount determined under the formula in clause 2.

4.                An amount determined under the formula in clause 1 or clause 2, is rounded to the nearest 10 whole dollars.

Table

Column 1

Item

Column 2

Age of Beneficiary

Column 3

Maximum Pension Valuation Factor

Column 4

Minimum Pension Valuation Factor

1

20 or less

10

28.6

2

21

10

28.5

3

22

10

28.3

4

23

10

28.1

5

24

10

28.0

6

25

10

27.8

7

26

10

27.6

8

27

10

27.5

9

28

10

27.3

10

29

10

27.1

11

30

10

26.9

12

31

10

26.7

13

32

10

26.5

14

33

10

26.3

15

34

10

26.0

16

35

10

25.8

17

36

10

25.6

18

37

10

25.3

19

38

10

25.1

20

39

10

24.8

21

40

10

24.6

22

41

10

24.3

23

42

10

24.0

24

43

10

23.7

25

44

10

23.4

26

45

10

23.1

27

46

10

22.8

28

47

10

22.5

29

48

10

22.2

30

49

10

21.9

31

50

9.9

21.5

32

51

9.9

21.2

33

52

9.8

20.9

34

53

9.7

20.5

35

54

9.7

20.1

36

55

9.6

19.8

37

56

9.5

19.4

38

57

9.4

19.0

39

58

9.3

18.6

40

59

9.1

18.2

41

60

9.0

17.8

42

61

8.9

17.4

43

62

8.7

17.0

44

63

8.5

16.6

45

64

8.3

16.2

46

65

8.1

15.7

47

66

7.9

15.3

48

67

7.6

14.9

49

68

7.3

14.4

50

69

7.0

14.0

51

70

6.6

13.5

52

71

6.2

13.1

53

72

5.8

12.6

54

73

5.4

12.2

55

74

4.8

11.7

56

75

4.3

11.3

57

76

3.7

10.8

58

77

3.0

10.4

59

78

2.2

10.0

60

79

1.4

9.5

61

80

1

9.1

62

81

1

8.7

63

82

1

8.3

64

83

1

7.9

65

84

1

7.5

66

85

1

7.1

67

86

1

6.8

68

87

1

6.4

69

88

1

6.1

70

89

1

5.8

71

90

1

5.5

72

91

1

5.3

73

92

1

5.0

74

93

1

4.8

75

94

1

4.6

76

95

1

4.4

77

96

1

4.2

78

97

1

4.0

79

98

1

3.8

80

99

1

3.7

81

100 or more

1

3.5

Example:

Iva Fortune, who turns 60 on 5 September 1994, invests $100,000 in an allocated pension fund on 1 October 1994. The date of the first payment to Ms Fortune is 1 January 1995.

Assume a fund earning rate of 7%.

1994/95: The maximum and minimum payments for 1994/95 are based on:

(a)     the account balance on the day of purchase; and

(b)     the beneficiary’s age of 60 on the day of purchase:

        

        

Assume that total payments to Ms Fortune at 30 June 1995 are $6,000.

1995/96: The maximum and minimum payments for the year 1995/96 are based on:

(a)     the account balance on 1 July 1995 which is $99,145 (residue $94,000 + interest of $5,145); and

(b)     the beneficiary’s age of 60 on 1 July 1995:

        

        

5.                In a year in which a PVF of 1 is used in calculating the maximum limit under clause 1, payment of the full account balance may be made at any time during the year.

Schedule 1AABPayment limits for annuities and pensions with a commencement day on and after 1 January 2006

(subregulations 1.05(4) and 1.06(4))

  

1.                Subject to clauses 3, 4 and 5, the maximum limits mentioned in paragraph 1.05(4)(f) or 1.06(4)(e) are determined under the formula:

                  

where:

AB means the amount of the annuity account balance, or pension account balance, as the case requires:

                     (a)  on 1 July in the financial year in which the payments are made; or

                     (b)  if that year is the year in which the annuity payments, or pension payments, commence—on the commencement day.

PVF means the maximum pension valuation factor set out in Column 3 of the Table in this Schedule in relation to the item in the Table that represents the age of the beneficiary on:

                     (a)  1 July in the financial year in which the payments are made; or

                     (b)  if that is the year in which the annuity payments, or pension payments, commence—the commencement day.

2.                Subject to clauses 3, 3A, 3B and 4, the minimum limits mentioned in paragraph 1.05(4)(f) or 1.06(4)(e) are determined under the formula:

                  

where:

AB means the amount of the annuity account balance, or pension account balance, as the case requires:

                     (a)  on 1 July in the financial year in which the payments are made; or

                     (b)  if that year is the year in which the annuity payments, or pension payments, commence—on the commencement day.

PVF means the minimum pension valuation factor set out in Column 4 of the Table in this Schedule in relation to the item in the Table that represents the age of the beneficiary on:

                     (a)  1 July in the financial year in which the payments are made; or

                     (b)  if that is the year in which the annuity payments, or pension payments, commence—the commencement day.

3.                For a calculation of the maximum or minimum limit in the year in which the commencement day of the pension or annuity occurs if that day is a day other than 1 July, the appropriate value set out in Column 3 or Column 4 of the Table in this Schedule as the case requires, must be applied proportionally to the number of days in the financial year that include and follow the commencement day.

3A.             For the financial years commencing on 1 July 2008, 1 July 2009 and 1 July 2010, the minimum limit is half of the amount determined under the formula in clause 2.

3B.              For the financial years commencing on 1 July 2011 and 1 July 2012, the minimum limit is 75% of the amount determined under the formula in clause 2.

4.                An amount determined under the formula in clause 1 or clause 2, is rounded to the nearest 10 whole dollars.

5.                In a year in which a PVF of 1 is used in calculating the maximum limit under clause 1, payment of the full account balance may be made at any time during the year.

Table

Column 1

Item

Column 2

Age of Beneficiary

Column 3

Maximum Pension Valuation Factor

Column 4

Minimum Pension Valuation Factor

1

20 or less

12.0

29.2

2

21

12.0

29.0

3

22

12.0

28.9

4

23

12.0

28.7

5

24

12.0

28.6

6

25

12.0

28.4

7

26

12.0

28.3

8

27

12.0

28.1

9

28

12.0

27.9

10

29

12.0

27.8

11

30

12.0

27.6

12

31

12.0

27.4

13

32

12.0

27.2

14

33

12.0

27.0

15

34

12.0

26.8

16

35

12.0

26.6

17

36

12.0

26.4

18

37

12.0

26.2

19

38

12.0

26.0

20

39

12.0

25.8

21

40

12.0

25.5

22

41

12.0

25.3

23

42

12.0

25.0

24

43

12.0

24.8

25

44

12.0

24.5

26

45

12.0

24.2

27

46

12.0

24.0

28

47

12.0

23.7

29

48

12.0

23.4

30

49

12.0

23.1

31

50

12.0

22.8

32

51

11.9

22.5

33

52

11.8

22.2

34

53

11.8

21.8

35

54

11.7

21.5

36

55

11.5

21.1

37

56

11.4

20.8

38

57

11.3

20.4

39

58

11.2

20.1

40

59

11.0

19.7

41

60

10.9

19.3

42

61

10.7

18.9

43

62

10.5

18.5

44

63

10.3

18.1

45

64

10.1

17.7

46

65

9.9

17.3

47

66

9.6

16.8

48

67

9.3

16.4

49

68

9.1

16.0

50

69

8.7

15.5

51

70

8.4

15.1

52

71

8.0

14.6

53

72

7.6

14.2

54

73

7.2

13.7

55

74

6.7

13.3

56

75

6.2

12.8

57

76

5.7

12.3

58

77

5.1

11.9

59

78

4.5

11.4

60

79

3.8

10.9

61

80

3.1

10.5

62

81

2.3

10.0

63

82

1.4

9.6

64

83

1

9.1

65

84

1

8.7

66

85

1

8.3

67

86

1

7.9

68

87

1

7.5

69

88

1

7.2

70

89

1

6.9

71

90

1

6.6

72

91

1

6.3

73

92

1

6.0

74

93

1

5.8

75

94

1

5.5

76

95

1

5.3

77

96

1

5.1

78

97

1

4.9

79

98

1

4.7

80

99

1

4.5

81

100 or more

1

4.4

Example:

Clive Long, who turns 65 on 8 February 2006, invests $100,000 in an allocated pension fund on 1 March 2006. The date of the first payment to Mr Long is 1 April 2006.

2005/06: The maximum and minimum payments for 2005/06 are based on:

(a)     the account balance on the day of purchase; and

(b)     the beneficiary’s age of 65 on the day of purchase:

        

        

Assume that total payments to Mr Long at 30 June 2006 are $3,000.

2006/07: The maximum and minimum payments for 2006/07 are based on:

(a)     the account balance on 1 July 2006 which is $99,300 (residue $97,000 + earnings of $2,300); and

(b)     the beneficiary’s age of 65 on 1 July 2006:

        

        

Schedule 1BPension valuation factors

(paragraph 1.06(6)(g) and subregulation 1.08(1))

  

1.                The pension valuation factor for:

                     (a)  a pension that is to be indexed at a rate greater than 8% each year; or

                     (b)  a pension that is included in a class of pensions that are to be indexed at a rate that is greater than 8% each year;

is the factor determined in writing by the Regulator, on a case‑by‑case basis, in relation to that pension or class of pensions.

2.                The pension valuation factor for any other pension is the factor applicable to the pension under the following tables.

3.                A reference in the tables to Age is a reference to the age of the recipient on the commencement day of the relevant pension. If the age of a person on that day falls between 2 of the ages specified in a table, the pension valuation factor is to be determined by reference to the factors specified under the next greater age group in the table.

4.                If a pension has no reversion, the pension valuation factor for the pension is to be the relevant factor specified in the relevant table in the Below 50% group.

5.                If the rules of a superannuation fund provide that a pension is indexed to movements in salary, the pension valuation factor for the pension is the relevant factor specified in the table relating to an indexation rate of 8%.

6.                If a pension is indexed by reference to movements in a price index published by the Australian Statistician, the pension valuation factor for the pension is the relevant factor applicable under the table into which the standard indexation rate falls.

7.                Subject to clause 8, if the governing rules of a superannuation fund provide for a pension to be indexed at the discretion of the trustees of the fund, the pension valuation factor is to be determined as if the indexation rate were a rate worked out by:

                     (a)  adding together the indexation rates determined by the trustees for pensions of same kind as that pension in respect of each year in the period of 5 years of which the year of income in which the pension commences to be paid is the last year; and

                     (b)  dividing the result by 5.

8.                If a superannuation fund to which clause 7 applies has been in existence, or making pension payments, for less than a continuous period of 5 years, the pension valuation factor is to be the relevant factor specified in the table that relates to the standard indexation rate.

Tables

Indexation rate of 8%

Reversion

Age next birthday of recipient on commencement day of pension

20 or less

21 to 25

26 to 30

31 to 35

36 to 40

41 to 45

46 to 50

51 to 55

56 to 60

61 to 65

66 to 70

71 to 75

76 to 80

81 or more

Below 50%

33

31

29

27

25

23

21

18

16

14

12

10

9

9

50%‑75%

34

33

31

29

27

25

22

20

18

15

13

11

10

9

Above 75%

35

34

32

30

28

26

24

21

19

16

14

12

10

10

Indexation rate of at least 7% but less than 8%

Reversion

Age next birthday of recipient on commencement day of pension

20 or less

21 to 25

26 to 30

31 to 35

36 to 40

41 to 45

46 to 50

51 to 55

56 to 60

61 to 65

66 to 70

71 to 75

76 to 80

81 or more

Below 50%

26

25

24

23

21

20

18

16

14

13

11

10

9

8

50%‑75%

27

26

25

24

23

21

19

18

16

14

12

10

9

9

Above 75%

28

27

26

25

24

22

20

19

17

15

13

11

10

9

Indexation rate of least 6% but less than 7%

Reversion

Age next birthday of recipient on commencement day of pension

20 or less

21 to 25

26 to 30

31 to 35

36 to 40

41 to 45

46 to 50

51 to 55

56 to 60

61 to 65

66 to 70

71 to 75

76 to 80

81 or more

Below 50%

22

21

20

19

18

17

16

14

13

12

10

9

8

8

50%‑75%

22

22

21

20

19

18

17

16

14

13

11

10

9

8

Above 75%

23

22

22

21

20

19

18

16

15

13

12

10

9

8

Indexation rate of at least 5% but less than 6%

Reversion

Age next birthday of recipient on commencement day of pension

20 or less

21 to 25

26 to 30

31 to 35

36 to 40

41 to 45

46 to 50

51 to 55

56 to 60

61 to 65

66 to 70

71 to 75

76 to 80

81 or more

Below 50%

18

18

17

17

16

15

14

13

12

11

10

9

8

8

50%‑75%

19

18

18

17

17

16

15

14

13

12

10

9

8

8

Above 75%

19

19

18

18

17

17

16

15

13

12

11

9

8

8

Indexation rate of at least 4% but less than 5%

Reversion

Age next birthday of recipient on commencement day of pension

20 or less

21 to 25

26 to 30

31 to 35

36 to 40

41 to 45

46 to 50

51 to 55

56 to 60

61 to 65

66 to 70

71 to 75

76 to 80

81 or more

Below 50%

16

15

15

15

14

13

13

12

11

10

9

8

8

7

50%‑75%

16

16

15

15

15

14

13

13

12

11

10

9

8

7

Above 75%

16

16

16

15

15

15

14

13

12

11

10

9

8

7

Indexation rate of at least 3% but less than 4%

Reversion

Age next birthday of recipient on commencement day of pension

20 or less

21 to 25

26 to 30

31 to 35

36 to 40

41 to 45

46 to 50

51 to 55

56 to 60

61 to 65

66 to 70

71 to 75

76 to 80

81 or more

Below 50%

14

14

13

13

13

12

11

11

10

9

8

8

7

7

50%‑75%

14

14

14

13

13

13

12

11

11

10

9

8

7

7

Above 75%

14

14

14

14

13

13

12

12

11

10

9

8

8

7

Indexation rate of at least 2% but less than 3%

Reversion

Age next birthday of recipient on commencement day of pension

20 or less

21 to 25

26 to 30

31 to 35

36 to 40

41 to 45

46 to 50

51 to 55

56 to 60

61 to 65

66 to 70

71 to 75

76 to 80

81 or more

Below 50%

12

12

12

12

11

11

10

10

9

9

8

7

7

7

50%‑75%

12

12

12

12

12

11

11

10

10

9

8

8

7

7

Above 75%

12

12

12

12

12

12

11

11

10

9

9

8

7

7

Indexation rate of at least 1% but less than 2%

Reversion

Age next birthday of recipient on commencement day of pension

20 or less

21 to 25

26 to 30

31 to 35

36 to 40

41 to 45

46 to 50

51 to 55

56 to 60

61 to 65

66 to 70

71 to 75

76 to 80

81 or more

Below 50%

11

11

11

11

10

10

10

10

9

8

7

7

7

6

50%‑75%

11

11

11

11

11

10

10

10

9

8

8

7

7

6

Above 75%

11

11

11

11

11

10

10

10

9

9

8

7

7

6

Indexation rate less that 1%

Reversion

Age next birthday of recipient on commencement day of pension

20 or less

21 to 25

26 to 30

31 to 35

36 to 40

41 to 45

46 to 50

51 to 55

56 to 60

61 to 65

66 to 70

71 to 75

76 to 80

81 or more

Below 50%

10

10

10

10

9

9

9

8

8

8

7

7

6

6

50%‑75%

10

10

10

10

10

9

9

9

8

8

7

7

6

6

Above 75%

10

10

10

10

10

10

9

9

9

8

8

7

7

6

Schedule 1Conditions of release of benefits

(Subregulations 1.03AB(2) and 6.01(2), regulation 6.01A, paragraphs 6.15A(1)(a) and (b), (2)(b), (3)(b), (4)(c) and (5)(c), subparagraph 6.16(3)(b)(ii) and paragraphs 6.18(3)(a), 6.19(3)(a), 6.23(3)(a) and 7A.01A(a) and (c))

Part 1Regulated superannuation funds

 

Column 1

Item

Column 2

Conditions of release

Column 3

Cashing restrictions

101

Retirement

Nil

102

Death

Nil

102A

Terminal medical condition

Nil

103

Permanent incapacity

Nil

103A

Former temporary resident to whom regulation 6.20A or 6.20B applies, requesting in writing the release of his or her benefits

Amount that is at least the amount of the temporary resident’s withdrawal benefit in the fund, paid:

(a) as a single lump sum; or

 

 

(b) if the fund receives any combination of contributions, transfers and rollovers after cashing the benefits—in a way that ensures that the amount is cashed

103B

The trustee is required to pay an amount to the Commissioner of Taxation under the Superannuation (Unclaimed Money and Lost Members) Act 1999 for the person’s superannuation interest in the fund

Amount that the trustee is required to pay to the Commissioner of Taxation under the Superannuation (Unclaimed Money and Lost Members) Act 1999 for the person’s superannuation interest in the fund, paid as a lump sum to the Commissioner

104

Termination of gainful employment with a standard employer‑sponsor of the regulated superannuation fund on or after 1 July 1997 (where the member’s preserved benefits in the fund at the time of the termination are less than $200)

Nil

105

Severe financial hardship

For a person taken to be in severe financial hardship under paragraph 6.01(5)(a)—in each 12 month period (beginning on the date of first payment), a single lump sum not less than $1,000 (except if the amount of the person’s preserved benefits and restricted non‑preserved benefits is less than that amount) and not more than $10,000

 

 

For a person taken to be in severe financial hardship under paragraph 6.01(5)(b)—Nil.

106

Attaining age 65

Nil

107

Compassionate ground

 

A single lump sum, not exceeding an amount determined, in writing, by the Regulator, being an amount that:

 

 

(a) taking account of the ground and of the person’s financial capacity, is reasonably required; and

 

 

(b) in the case of the ground mentioned in paragraph 6.19A (1)(b)—in each 12 month period (beginning on the date of first payment), does not exceed an amount equal to the sum of:

(i) 3 months’ repayments; and

(ii) 12 months’ interest on the outstanding balance of the loan

108

Termination of gainful employment with an employer who had, or any of whose associates had, at any time, contributed to the regulated superannuation fund in relation to the member

1.   Preserved benefits: Non‑commutable life pension or non‑commutable life annuity

2.   Restricted non‑preserved benefits:  Nil

109

Temporary incapacity

A non‑commutable income stream cashed from the regulated superannuation fund for:

 

 

(a) the purpose of continuing (in whole or part) the gain or reward which the member was receiving before the temporary incapacity; and

 

 

(b) a period not exceeding the period of incapacity from employment of the kind engaged in immediately before the temporary incapacity

110

Attaining preservation age

Any of the following:

(a) a transition to retirement income stream;

(b) a non‑commutable allocated annuity;

(c) a non‑commutable allocated pension;

(d) a non‑commutable annuity;

(e) a non‑commutable pension

111

Being a lost member who is found, and the value of whose benefit in the fund, when released, is less than $200

Nil

111A

The Commissioner of Taxation gives a superannuation provider a release authority under subsection 96‑10(1) or 96‑12(1) in Schedule 1 to the Taxation Administration Act 1953

The restrictions contained in sections 96‑20 and 96‑25 in Schedule 1 to the Taxation Administration Act 1953

111B

A person gives a superannuation provider a release authority under section 135‑40 in Schedule 1 to the Taxation Administration Act 1953

The restrictions contained in sections 135‑75 and 135‑85 in Schedule 1 to the Taxation Administration Act 1953

111C

The Commissioner of Taxation gives a superannuation provider a release authority under section 135‑45 in Schedule 1 to the Taxation Administration Act 1953

The restrictions contained in sections 135‑75 and 135‑85 in Schedule 1 to the Taxation Administration Act 1953

112

Either:

(a) a person gives a release authority to a superannuation provider under subsection 292‑410(1) of the Income Tax Assessment Act 1997; or

Restrictions contained in subsections 292‑415(1) and (2) of the Income Tax Assessment Act 1997

 

(b) the Commissioner of Taxation gives a release authority to a superannuation provider under subsection 292‑410(4) of the Income Tax Assessment Act 1997

 

112A

The Commissioner of Taxation issues a release authority to a superannuation provider under subsection 292‑420(1) of the Income Tax Assessment Act 1997

Restrictions contained in subsections 292‑420(4), (5) and (7) of the Income Tax Assessment Act 1997

113

A person gives a transitional release authority to a superannuation provider under section 292‑80B of the Income Tax (Transitional Provisions) Act 1997

Restrictions contained in subsections 292‑80C (1) and (2) of the Income Tax (Transitional Provisions) Act 1997

113A

A former resident of Australia has:

(a) moved permanently to New Zealand; and

(b) nominated a provider of a KiwiSaver Scheme for the purposes of this item

Amount that is at least the amount of the former resident’s withdrawal benefit in the fund, paid:

(a) as a single lump sum; or

(b) if the fund receives any combination of contributions, transfers and rollovers after cashing the benefits—in a way that ensures that the amount is cashed

114

Any other condition, if expressed to be a condition of release, in an approval under subparagraph 62(1)(b)(v) of the Act

Restrictions expressed in the approval to be cashing restrictions applying to the condition of release

Part 2Approved deposit funds

 

Column 1

Item no.

Column 2

Conditions of release

Column 3

Cashing restrictions

201

Retirement

Nil

202

Death

Nil

202A

Terminal medical condition

Nil

203

Permanent incapacity

Nil

204

Former temporary resident to whom regulation 6.24A applies, requesting in writing the release of his or her benefits

Amount that is at least the amount of the temporary resident’s withdrawal benefit in the fund, paid:

(a) as a single lump sum; or

 

 

(b) if the fund receives any combination of contributions, transfers and rollovers after cashing the benefits—in a way that ensures that the amount is cashed

204A

The trustee is required to pay an amount to the Commissioner of Taxation under the Superannuation (Unclaimed Money and Lost Members) Act 1999 for the person’s superannuation interest in the fund

Amount that the trustee is required to pay to the Commissioner of Taxation under the Superannuation (Unclaimed Money and Lost Members) Act 1999 for the person’s superannuation interest in the fund, paid as a lump sum to the Commissioner

205

Severe financial hardship

For a person taken to be in severe financial hardship under paragraph 6.01(5)(a)—in each 12 month period (beginning on the date of first payment), a single lump sum not less than $1,000 (except if the amount of the person’s preserved benefits and restricted non‑preserved benefits is less than that amount) and not more than $10,000

 

 

For a person taken to be in severe financial hardship under paragraph 6.01(5)(b)—Nil

206

Attaining age 65

Nil

207

Compassionate ground

 

A single lump sum, not exceeding an amount determined, in writing, by APRA, being an amount that:

 

 

(a) taking account of the ground and of the person’s financial capacity, is reasonably required; and

 

 

(b) in the case of the ground mentioned in paragraph 6.19A(1)(b)—in each 12 month period (beginning on the date of first payment), does not exceed an amount equal to the sum of:

(i) 3 months’ repayments; and

 

 

(ii) 12 months’ interest on the outstanding balance of the loan

208

Attaining preservation age

Any of the following:

(a) a transition to retirement income stream;

 

 

(b) a non‑commutable allocated annuity;

(c) a non‑commutable allocated pension;

(d) a non‑commutable annuity;

(e) a non‑commutable pension

208A

The Commissioner of Taxation gives a superannuation provider a release authority under subsection 96‑10(1) or 96‑12(1) in Schedule 1 to the Taxation Administration Act 1953

The restrictions contained in sections 96‑20 and 96‑25 in Schedule 1 to the Taxation Administration Act 1953

208B

A person gives a superannuation provider a release authority under section 135‑40 in Schedule 1 to the Taxation Administration Act 1953

The restrictions contained in sections 135‑75 and 135‑85 in Schedule 1 to the Taxation Administration Act 1953

208C

The Commissioner of Taxation gives a superannuation provider a release authority under section 135‑45 in Schedule 1 to the Taxation Administration Act 1953

The restrictions contained in sections 135‑75 and 135‑85 in Schedule 1 to the Taxation Administration Act 1953

209

Either:

(a) a person gives a release authority to a superannuation provider under subsection 292‑410(1) of the Income Tax Assessment Act 1997; or

Restrictions contained in subsections 292‑415(1) and (2) of the Income Tax Assessment Act 1997

 

(b) the Commissioner of Taxation gives a release authority to a superannuation provider under subsection 292‑410(4) of the Income Tax Assessment Act 1997

 

209A

The Commissioner of Taxation issues a release authority to a superannuation provider under subsection 292‑420(1) of the Income Tax Assessment Act 1997

Restrictions contained in subsections 292‑420(4), (5) and (7) of the Income Tax Assessment Act 1997

210

A person gives a transitional release authority to a superannuation provider under section 292‑80B of the Income Tax (Transitional Provisions) Act 1997

Restrictions contained in subsections 292‑80C(1) and (2) of the Income Tax (Transitional Provisions) Act 1997

211

Being a lost member who is found, and the value of whose benefit in the fund, when released, is less than $200

Nil

Note:       The definitions set out in subregulation 6.01(2) apply, unless they are in material or expressed not to apply, to Schedule 1; see that subregulation.

Schedule 2Modifications of the OSS laws in relation to preserved benefits in regulated superannuation funds

(subregulation 6.02(2))

Part 1Modifications of the Occupational Superannuation Standards Act 1987

101.     Section 7 (Operating standards for superannuation funds)

101.1               After subsection 7(3), insert:

           ‘(4)  Despite any other provision of this Act, superannuation funds must comply with the standards prescribed for the purposes of this section.’.

Part 2Modifications of the Occupational Superannuation Standards Regulations

201.            Regulation 3 (Interpretation)

201.1          Paragraph 3(2)(a):

                   Omit the paragraph.

201A.         Regulation 8 (Vesting standards)

201A.1            After subregulation 8(1A), insert:

         ‘(1B)  Paragraph (1A)(a) does not apply in relation to contributions made in accordance with a prescribed agreement or award’ 

202.            Regulation 9 (Preservation standards)

201.1A            Subparagraph 9(1)(a)(i):

Omit ‘subject to regulation 10,’.

202.1          Paragraph 9(1)(b):

After ‘the fund’, insert ‘before the commencement day’.

202.2          Paragraph 9(1)(c):

Omit the paragraph, substitute:

                    ‘(c)  member‑financed benefits must be preserved if they arise from contributions made by a member to a superannuation fund during any period during which the member did not have employer support in the fund, being a period that:

                              (i)  commenced on or after 13 March 1989 (in the case of a private sector fund) or 1 July 1990 (in the case of a public sector fund); and

                             (ii)  ended before the commencement day;

                    ‘(d)  member‑financed benefits must be preserved if they arise from contributions (other than undeducted contributions) made to a superannuation fund in relation to the member on or after the commencement day;

                    ‘(e)  benefits must be preserved if they arise from payments from the Superannuation Holding Accounts Special Account;

                    ‘(f)  benefits must be preserved if they arise from eligible spouse contributions within the meaning of section 159TC of the Tax Act;

                    ‘(g)  benefits must be preserved if they arise from a capital gains tax exempt component rolled over to the fund because of subsection 160ZZPZF(1), 160ZZPZH(7) or 160ZZPZI(5) of the Tax Act.’.

202.3          Subregulation 9(3):

After ‘arising’, insert ‘before the commencement day,’.

202.4          Add at the end:

           ‘(5)  In paragraphs (1)(b), (c) and (d) and subregulation (3):

commencement day has the same meaning as in Part 6 of the Superannuation Industry (Supervision) Regulations.

undeducted contributions has the same meaning as in Part 6 of the Superannuation Industry (Supervision) Regulations.’

202A.         New regulation 10A

202A.1            After regulation 10, insert:

10A.           Preservation standard—interaction of subparagraph 9(1)(a)(i) and regulation 10

                   ‘Where, apart from this regulations, a fund must preserve, in respect of a member:

                     (a)  the amount of benefits in compliance with subparagraph 9(1)(a)(i); and

                     (b)  an amount of benefits in compliance with regulation 10;

it is sufficient compliance with those provisions if the fund preserves the greater of those amounts.’.

203.            Regulation 11 (Preservation and portability standards)

203.1               Omit the regulation.

204.            Regulation 12 (Preservation standards not to apply in certain cases)

204.1               Omit the regulation.


Schedule 2ARequest form for transfer of whole balance of superannuation benefits to fund other than self managed superannuation fund

(regulation 6.33)

  

Schedule 2BRequest form for transfer of whole balance of superannuation benefits to self managed superannuation fund

(regulation 6.33)

  

Schedule 3Prescribed form of advertisement of scheme for winding‑up or dissolution

(regulation 13.20)

  

Scheme for [insert Winding‑up’, ‘Dissolution’ or both] of [insert name of superannuation entity]

                   Acting under subsection 142(1) of the Superannuation Industry (Supervision) Act 1993, [insert name of Regulator] has formulated a scheme for the [insert Winding‑up’, ‘Dissolutionor both] of [insert name of superannuation entity].

Summary of scheme:

                   [Set out a summary of the scheme].

                   The trustee of [insert name of superannuation entity] has been notified in writing of the scheme.

                   Any person whose interests are affected by the scheme may obtain a copy of the scheme from the offices of [insert name of Regulator] listed below.

                   [Insert details of the Regulator’s offices].

Schedule 4Approved bodies

(subregulation 13.15A (2), definition of approved body)

  

Item

Body

1

ASX Clear Pty Limited

2

ASX Limited

5

ASX Clear (Futures) Pty Limited

6

Australian Securities Exchange Limited

7

American Stock Exchange Inc

8

The Amsterdam Stock Exchange

9

Belgium Futures and Options Exchange (BELFOX)

10

Board of Trade of the City of Chicago (CBOT)

11

Board of Trade of Kansas City, Missouri, Inc. (KCBT)

12

Bolsa de Derivados do Porto (The Portuguese Futures and Options Exchange) (BDP)

13

Bolsa de Mercadorias & Futuros (Commodities & Futures Exchange, Brazil) (BM & F)

14

Cantor Financial Futures Exchange (CFFE)

15

Chicago Mercantile Exchange (CME)

16

Coffee, Sugar and Cocoa Exchange, Inc. (CSCE)

17

Commodity Exchange Inc. (COMEX)

18

Copenhagen Stock Exchange (including FUTOP Clearing Centre (FUTOP))

19

Eurex Deutschland

20

Eurex Zurich

21

European Options Exchange (EOE)

22

Financial Futures Exchange Barcelona (MEFF‑RF)

23

Financial Futures Exchange Madrid (MEFF‑RV)

24

Financiele Termijnmarkt Amsterdam N.V. (Financial Futures Market Amsterdam) (FTA)

25

Frankfurt Stock Exchange

26

Helsinki Securities and Derivatives Exchange, Clearing House Limited

27

Hong Kong Futures Exchange Ltd (HKFE)

28

The International Petroleum Exchange of London Ltd. (IPE)

29

The International Stock Exchange of the United Kingdom and the Republic of Ireland Limited

30

Italian Futures Exchange (MIF)

31

Italian Stock Exchange

32

Korea Futures Exchange (KOFEX)

33

Korea Stock Exchange (KSE)

34

Kuala Lumpur Commodity Exchange (KLCE)

35

Kuala Lumpur Options and Financial Futures Exchange (KLOFFE)

36

The London International Financial Futures Exchange Ltd. (LIFFE)

37

The London Securities and Derivatives Exchange Limited (OMLX)

38

Malaysia Monetary Exchange (MME)

39

Marché à Terme International de France (The French International Futures Market) (MATIF)

40

Marché des Options Négociables de Paris (Paris Traded Options Market) (MONEP)

41

Mercados de Futuros Financieros, SA (Spanish Financial Futures Market) (MEFFSA)

42

The Metal Market and Exchange Company Ltd. (London Metal Exchange) (LME)

43

Mid America Commodity Exchange (MIDAM)

44

Milan Stock Exchange

45

Minneapolis Grain Exchange (MGE)

46

The Montreal Exchange (ME)

47

NASDAQ National Market

48

New York Cotton Exchange (NCE)

49

New York Futures Exchange, Inc. (NYFE)

50

New York Mercantile Exchange (NYMEX)

51

New York Stock Exchange Inc

52

New Zealand Futures & Options Exchange Ltd. (NZFOE)

53

New Zealand Stock Exchange

54

OM Stockholm AB (OMS)

55

Osaka Securities Exchange (OSE)

56

Oslo Stock Exchange (OSLO)

57

Paris Bourse

58

Philadelphia Stock Exchange (PHLX)

59

Philadelphia Board of Trade (PBOT)

60

Singapore Commodity Exchange Limited (SICOM)

61

Singapore Exchange (SGX)

62

South African Futures Exchange (SAFEX)

63

The Stock Exchange of Hong Kong Limited

64

Tokyo Commodity Exchange for Industry (TOCOM)

65

Tokyo Grain Exchange (TGE)

66

Tokyo International Futures Exchange (TIFFE)

67

Tokyo Stock Exchange (TSE)

68

The Toronto Futures Exchange (TFE)

69

Toronto Stock Exchange

70

The Winnipeg Commodity Exchange (WCE)

71

Wiener Börse AG

72

Zurich Stock Exchange

73

A body that performs clearing house functions in relation to a body mentioned in items 5 to 59 (the second body) in accordance with the rules of the second body or a law of the country where the second body is situated.

Schedule 6Payments for market linked income streams

(subregulations 1.05(10) and 1.06(8))

  

1.                Subject to the following clauses, the total amount of the payments mentioned in paragraph 1.05(10)(b) or 1.06(8)(b) is determined using the formula:

                  

where:

AB means the amount of the market linked annuity account balance, or market linked pension account balance, as the case requires:

                     (a)  on 1 July in the financial year in which the payment is made; or

                     (b)  if that year is the year in which the market linked annuity or pension commences—on the commencement day.

PF means the payment factor set out in Column 3 in the Table in relation to the item in the Table that represents the term of the market linked annuity or pension remaining, expressed in whole years in accordance with clause 5, on:

                     (a)  1 July in the financial year in which the payment is made; or

                     (b)  if that is the year in which the annuity or pension commences—the commencement day.

2.                Payment of the account balance is sufficient to meet the payment for the financial year if, during the year, the account balance becomes less than the lesser of the following amounts:

                     (a)  the amount determined under clause 1;

                     (b)  the balance of the amount determined under clause 1 that remains to be paid for the year.

3.                If, in the final year of the annuity or pension, after payment of the amount determined under clause 1, there is a residual balance in the account—payment of the account balance must be made within 28 days after:

                     (a)  the end of the term of the annuity or pension; or

                     (b)  if a period is chosen under clause 7—the end of that period.

4.                An amount determined under the formula in clause 1 is rounded to the nearest 10 whole dollars.

5.                For clause 1, the remaining term of a market linked annuity or pension is rounded as follows:

                     (a)  if the commencement day of the market linked annuity or pension is on or after 1 January in a financial year—rounded up to the nearest whole year;

                     (b)  if the commencement day of the market linked annuity or pension is on or before 31 December in a financial year—rounded down to the nearest whole year.

6.                If the commencement day of the pension or annuity is a day other than 1 July—the appropriate factor set out in Column 3 of the Table must be applied proportionally to the number of days in the financial year that include and follow the commencement day in that financial year.

7.                If, on 1 July in a financial year (current year):

                     (a)  the payment factor that applies to an account balance for a market linked annuity or pension is 1.00; and

                     (b)  the payment factor that applied on 1 July in the previous financial year was not 1.00;

payments made in respect of the current year and the period after (if any) are taken to be determined in accordance with clause 1 if they comply with the following conditions:

                     (c)  payment of the account balance over one of the following periods:

                              (i)  if the remaining term of the annuity or pension is greater than 12 months—that period;

                             (ii)  12 months;

                     (d)  if payments are made in accordance with paragraph (c)—the provider has no obligation to make any other payment that, but for this clause, would have been determined on 1 July in the subsequent financial year.

8.                An amount is taken to have been determined in accordance with clause 1 of this Schedule if the amount is:

                     (a)  not less than the amount determined in accordance with clause 1 of this Schedule, less 10 per cent of that amount; and

                     (b)  not greater than the amount determined in accordance with clause 1 of this Schedule, plus 10 per cent of that amount.

9.                Clause 8 does not apply if clause 10 or 11 applies.

10.              For the financial years commencing on 1 July 2008, 1 July 2009 and 1 July 2010, an amount is taken to have been determined in accordance with clause 1 if the amount is:

                     (a)  not less than 45% of the amount determined in accordance with clause 1; and

                     (b)  not greater than 110% of the amount determined in accordance with clause 1.

11.              For the financial years commencing on 1 July 2011 and 1 July 2012, an amount is taken to have been determined in accordance with clause 1 if the amount is:

                     (a)  not less than 67.5% of the amount determined in accordance with clause 1; and

                     (b)  not greater than 110% of the amount determined in accordance with clause 1.

Table


Item

Term of annuity or pension remaining rounded in whole years

Payment Factor

1

70 or more

26.00

2

69

25.91

3

68

25.82

4

67

25.72

5

66

25.62

6

65

25.52

7

64

25.41

8

63

25.30

9

62

25.19

10

61

25.07

11

60

24.94

12

59

24.82

13

58

24.69

14

57

24.55

15

56

24.41

16

55

24.26

17

54

24.11

18

53

23.96

19

52

23.80

20

51

23.63

21

50

23.46

22

49

23.28

23

48

23.09

24

47

22.90

25

46

22.70

26

45

22.50

27

44

22.28

28

43

22.06

29

42

21.83

30

41

21.60

31

40

21.36

32

39

21.10

33

38

20.84

34

37

20.57

35

36

20.29

36

35

20.00

37

34

19.70

38

33

19.39

39

32

19.07

40

31

18.74

41

30

18.39

42

29

18.04

43

28

17.67

44

27

17.29

45

26

16.89

46

25

16.48

47

24

16.06

48

23

15.62

49

22

15.17

50

21

14.70

51

20

14.21

52

19

13.71

53

18

13.19

54

17

12.65

55

16

12.09

56

15

11.52

57

14

10.92

58

13

10.30

59

12

9.66

60

11

9.00

61

10

8.32

62

9

7.61

63

8

6.87

64

7

6.11

65

6

5.33

66

5

4.52

67

4

3.67

68

3

2.80

69

2

1.90

70

1 or less

1.00


Schedule 7Minimum payment amount for a superannuation income stream

(paragraph 1.05(11A)(a), subparagraph 1.05(11A)(b)(i), paragraph 1.06(9A)(a), subparagraph 1.06(9A)(b)(i) and regulation 1.07D)

1           (1)  Subject to clauses 3, 4, 4A and 4B, the amount of payments mentioned in paragraph 1.05(11A)(a) or 1.06(9A)(a) is the amount worked out using the formula:

                  

             (2)  In subclause (1):

account balance means:

                     (a)  the amount of the annuity or pension account balance:

                              (i)  on 1 July in the financial year in which the payment is made; or

                             (ii)  if that year is the year in which the annuity or pension payments commence—on the commencement day; or

                     (b)  if the amount of the annuity or pension account balance under paragraph (a) is less than the withdrawal benefit to which the beneficiary would be entitled if the annuity or pension were to be fully commuted—the amount of the withdrawal benefit.

percentage factor means the percentage factor specified in the item in the table that applies to the beneficiary because of the beneficiary’s age on:

                     (a)  1 July in the financial year in which the payment is made; or

                     (b)  if that is the year in which the annuity or pension payments commence—the commencement day.

2           (1)  The amount of payments mentioned in

                     (a)  subparagraph 1.05(11A)(b)(i) and sub‑subparagraph 1.05(11A)(b)(ii)(D); and

                     (b)  subparagraph 1.06(9A)(b)(i) and sub‑subparagraph 1.06(9A)(b)(ii)(C);

is the amount worked out using the formula:

             (2)  In subclause (1):

purchase price means the total amount paid as consideration to purchase the income stream.

percentage factor means the percentage factor specified in the item in the table that applies to the beneficiary because of the beneficiary’s age on:

                     (a)  the commencement day; or

                     (b)  the anniversary of the commencement day.

3                 For the determination of the minimum total payment in the year in which the commencement day of the annuity or pension occurs, if that day is a day other than 1 July, the applicable value specified in column 3 of the table must be applied proportionally to the number of days in the financial year that include and follow the commencement day.

4                 If the commencement day of the annuity or pension is on or after 1 June in a financial year, no payment is required to be made for that financial year.

4A              For the financial years commencing on 1 July 2008, 1 July 2009 and 1 July 2010, the amount of payments is half of the amount worked out using the formula in clause 1.

4B               For the financial years commencing on 1 July 2011 and 1 July 2012, the amount of payments is 75% of the amount worked out using the formula in clause 1.

5                 An amount determined under this Schedule is to be rounded to the nearest 10 whole dollars. If the amount ends in an exact 5 dollars, it is to be rounded up to the next 10 whole dollars.

Table

Item

Age of Beneficiary

Percentage factor

1

Under 65

4

2

65—74

5

3

75—79

6

4

80—84

7

5

85—89

9

6

90—94

11

7

95 or more

14

 


Endnotes

Endnote 1—About the endnotes

The endnotes provide information about this compilation and the compiled law.

The following endnotes are included in every compilation:

Endnote 1—About the endnotes

Endnote 2—Abbreviation key

Endnote 3—Legislation history

Endnote 4—Amendment history

Endnotes about misdescribed amendments and other matters are included in a compilation only as necessary.

Abbreviation key—Endnote 2

The abbreviation key sets out abbreviations that may be used in the endnotes.

Legislation history and amendment history—Endnotes 3 and 4

Amending laws are annotated in the legislation history and amendment history.

The legislation history in endnote 3 provides information about each law that has amended (or will amend) the compiled law. The information includes commencement details for amending laws and details of any application, saving or transitional provisions that are not included in this compilation.

The amendment history in endnote 4 provides information about amendments at the provision (generally section or equivalent) level. It also includes information about any provision of the compiled law that has been repealed in accordance with a provision of the law.

Misdescribed amendments

A misdescribed amendment is an amendment that does not accurately describe the amendment to be made. If, despite the misdescription, the amendment can be given effect as intended, the amendment is incorporated into the compiled law and the abbreviation “(md)” added to the details of the amendment included in the amendment history.

If a misdescribed amendment cannot be given effect as intended, the amendment is set out in the endnotes.

 

Endnote 2—Abbreviation key

 

A = Act

orig = original

ad = added or inserted

par = paragraph(s)/subparagraph(s)

am = amended

    /sub‑subparagraph(s)

amdt = amendment

pres = present

c = clause(s)

prev = previous

C[x] = Compilation No. x

(prev…) = previously

Ch = Chapter(s)

Pt = Part(s)

def = definition(s)

r = regulation(s)/rule(s)

Dict = Dictionary

Reg = Regulation/Regulations

disallowed = disallowed by Parliament

reloc = relocated

Div = Division(s)

renum = renumbered

exp = expires/expired or ceases/ceased to have

rep = repealed

    effect

rs = repealed and substituted

F = Federal Register of Legislative Instruments

s = section(s)/subsection(s)

gaz = gazette

Sch = Schedule(s)

LI = Legislative Instrument

Sdiv = Subdivision(s)

LIA = Legislative Instruments Act 2003

SLI = Select Legislative Instrument

(md) = misdescribed amendment

SR = Statutory Rules

mod = modified/modification

Sub‑Ch = Sub‑Chapter(s)

No. = Number(s)

SubPt = Subpart(s)

o = order(s)

underlining = whole or part not

Ord = Ordinance

    commenced or to be commenced

 

Endnote 3—Legislation history

Number and year

FRLI registration

Commencement

Application, saving and transitional provisions

1994 No. 57

11 Mar 1994

Div. 2.2 (rr. 2.08–2.11), Subdiv. 2.8.2 (rr. 2.52, 2.53), rr. 3.10–3.12, Div. 6.5 (r. 6.30), Parts 9 and 10 (rr. 9.01–10.06), r. 11.08 and Part 12 (rr. 12.01–12.20): 1 July 1994
Remainder: 11 Mar 1994

 

1994 No. 189

16 June 1994

r. 4: 1 July 1994
Remainder: 16 June 1994

1994 No. 432

23 Dec 1994

23 Dec 1994

1995 No. 47

23 Mar 1995

23 Mar 1995

1995 No. 64

5 Apr 1995

rr. 8, 18, 20, 21 and 23: 1 July 1995
Remainder: 5 Apr 1995

1995 No. 142

15 June 1995

1 July 1995

1995 No. 158

29 June 1995

1 July 1995

1995 No. 159

29 June 1995

rr. 22 and 25: 29 June 1995
Remainder: 1 July 1995

1995 No. 240

11 Aug 1995

11 Aug 1995

1995 No. 293

10 Oct 1995

10 Oct 1995

r. 3

1995 No. 384

6 Dec 1995

r. 5: 1 July 1996
Remainder: 6 Dec 1995

1995 No. 430

22 Dec 1995

rr. 4 and 5: 9 Jan 1996 (see r. 1)
Remainder: 22 Dec 1995

1996 No. 44

17 Apr 1996

17 Apr 1996

1996 No. 57

15 May 1996

15 May 1996

1996 No. 122

28 June 1996

28 June 1996

1996 No. 344

24 Dec 1996

30 Dec 1996

rr. 13 and 14

1997 No. 69

26 Mar 1997

26 Mar 1997

1997 No. 117

29 May 1997

rr. 9.5, 10.5 and 15.1: 1 Oct 1997
Remainder: 1 July 1997

r. 57

1997 No. 152

26 June 1997

1 July 1997

r. 6

1997 No. 153

26 June 1997

1 July 1997

r. 5

1997 No. 221

27 Aug 1997

27 Aug 1997

1997 No. 243

10 Sept 1997

10 Sept 1997

1997 No. 293

16 Oct 1997

16 Oct 1997

1997 No. 309

5 Nov 1997

5 Nov 1997

1997 No. 343

9 Dec 1997

9 Dec 1997

r. 5

1997 No. 415

24 Dec 1997

24 Dec 1997

r. 3

1998 No. 76

5 May 1998

5 May 1998

1998 No. 83

5 May 1998

r. 15: 1 Nov 1998
Remainder: 5 May 1998

1998 No. 108

27 May 1998

27 May 1998

1998 No. 175

30 June 1998

30 June 1998

1998 No. 177

30 June 1998

r. 4: 1 July 1998
Remainder: 1 Jan 1998

1998 No. 193

30 June 1998

1 July 1998

1998 No. 240

22 July 1998

22 July 1998

1998 No. 312

19 Nov 1998

19 Nov 1998

r. 4

1999 No. 14

11 Feb 1999

11 Feb 1999

1999 No. 31

2 Mar 1999

2 Mar 1999

1999 No. 115

17 June 1999

Schedule 2: 28 June 1999 (see r. 2(2))
Schedule 3: 1 July 1999
Remainder: 17 June 1999

1999 No. 239

20 Oct 1999

Schedule 2: 1 Nov 1999
Schedule 3: 1 July 2000
Remainder: 20 Oct 1999

r. 4

1999 No. 317

15 Dec 1999

15 Dec 1999

1999 No. 356

22 Dec 1999

22 Dec 1999

2000 No. 119

15 June 2000

15 June 2000

2000 No. 151

28 June 2000

28 June 2000

2000 No. 185

12 July 2000

12 July 2000

r. 4

2000 No. 280

18 Oct 2000

1 July 2000

2000 No. 281

18 Oct 2000

rr. 1–3: 18 Oct 2000
Remainder: 1 July 1999

2001 No. 37

1 Mar 2001

1 Mar 2001

2001 No. 352

21 Dec 2001

21 Dec 2001

r. 4

2001 No. 353

21 Dec 2001

28 Dec 2002

2002 No. 21

21 Feb 2002

11 Mar 2002 (see r. 2 and Gazette 2001, No. GN42)

2002 No. 91

9 May 2002

1 July 2002

2002 No. 150

27 June 2002

1 July 2002

2002 No. 171

3 July 2002

3 July 2002

2002 No. 200

29 Aug 2002

29 Aug 2002

2002 No. 353

20 Dec 2002

28 Dec 2002 (see r. 2)

2003 No. 42

27 Mar 2003

27 Mar 2003

2003 No. 170

2 July 2003

2 July 2003

2003 No. 171

2 July 2003

1 Oct 2003

r. 4

2003 No. 196

31 July 2003

Note: disallowed by the Senate on 18 September 2003

2003 No. 251

10 Oct 2003

1 July 2004

2004 No. 12

20 Feb 2004

20 Feb 2004

2004 No. 84

12 May 2004

12 May 2004

2004 No. 113

3 June 2004

rr. 1–3 and Schedule 1: 1 July 2004
Remainder: 1 July 2006

2004 No. 148

25 June 2004

rr. 1–3 and Schedule 1: 1 July 2004
Schedule 2: 1 Sept 2004
Remainder: 20 Sept 2004

2004 No. 152

25 June 2004

25 June 2004

2004 No. 153

25 June 2004

rr. 1–3 and Schedule 1: 25 June 2004
Remainder: 1 July 2004

2004 No. 154

25 June 2004

1 July 2004

2004 No. 155

25 June 2004

25 June 2004

2004 No. 249

12 Aug 2004

20 Sept 2004

2004 No. 349

8 Dec 2004

1 July 2004

2004 No. 404

23 Dec 2004

rr. 1–3 and Schedule 1: 1 Oct 2003
Remainder: 20 Sept 2004

2005 No. 34

14 Mar 2005 (see F2005L00635)

1 July 2005

2005 No. 56

4 Apr 2005 (see F2005L00729)

1 July 2005

2005 No. 142

16 June 2005 (see F2005L01457)

1 July 2005

2005 No. 143

17 June 2005 (see F2005L01452)

18 June 2005

2005 No. 218

7 Oct 2005 (see F2005L02918)

rr. 1–3 and Schedule 1 [items 33–38]: 8 Oct 2005

2005 No. 261

14 Nov 2005 (see F2005L03446)

15 Nov 2005

2005 No. 332

20 Dec 2005 (see F2005L03987)

rr. 1–3 and Schedule 1: 21 Dec 2005
Remainder: 1 July 2006

2005 No. 333

20 Dec 2005 (see F2005L04028)

rr. 1–3 and Schedule 1: 21 Dec 2005
Remainder: 1 Jan 2006

2005 No. 334

20 Dec 2005 (see F2005L04025)

rr. 1–3 and Schedule 1: 21 Dec 2005
Remainder: 1 Jan 2006

2005 No. 335

20 Dec 2005 (see F2005L04047)

21 Dec 2005

r. 4

2006 No. 189

17 July 2006 (see F2006L02318)

18 July 2006

2007 No. 74

2 Apr 2007 (see F2007L00820)

rr. 1–3 and Schedule 1: 3 Apr 2007
r. 4 and Schedule 2: 5 Apr 2007
Remainder: 1 July 2007

2007 No. 105

27 Apr 2007 (see F2007L01127)

1 July 2007

2007 No. 204

29 June 2007 (see F2007L01891)

1 July 2007

2007 No. 331

28 Sept 2007 (see F2007L03806)

29 Sept 2007

2007 No. 343

8 Oct 2007 (see F2007L03906)

rr. 1–3 and Schedule 1: 24 Sept 2007 (see r. 2(a))
Schedule 2: 25 Sept 2008 (see r. 2(b))

as amended by

 

 

 

2008 No. 133

25 June 2008 (see F2008L02174)

4 Oct 2007

2008 No. 9

15 Feb 2008 (see F2008L00373)

16 Feb 2008

2008 No. 134

25 June 2008 (see F2008L02173)

4 Oct 2007

r. 2(2)

2008 No. 171

8 Aug 2008 (see F2008L02956)

9 Aug 2008

2008 No. 282

17 Dec 2008 (see F2008L04665)

rr. 1–3 and Schedule 1: 18 Dec 2008 (see r. 2(a) and F2008L04636)
r. 4 and Schedule 2: 1 Apr 2009
r. 5 and Schedule 3: 1 July 2009

2009 No. 15

6 Feb 2009 (see  F2009L00258)

rr. 1–3 and Schedule 1: 7 Feb 2009
r. 4 and Schedule 2: 1 Apr 2009

2009 No. 46

16 Mar 2009 (see F2009L00983)

17 Mar 2009

2009 No. 71

1 May 2009 (see F2009L01485)

2 May 2009

2009 No. 106

5 June 2009 (see F2009L02156)

6 June 2009

2009 No. 295

2 Nov 2009 (see F2009L04000)

3 Nov 2009

2009 No. 389

16 Dec 2009 (see F2009L04513)

17 Dec 2009

2010 No. 4

11 Feb 2010 (see F2010L00299)

1 July 2007

2010 No. 187

30 June 2010 (see F2010L01814)

1 July 2010

2010 No. 237

21 July 2010 (see F2010L02058)

22 July 2010

2011 No. 83

3 June 2011 (see F2011L00936)

4 June 2011

2011 No. 130

30 June 2011 (see F2011L01360)

1 July 2011

2011 No. 146

8 Aug 2011 (see F2011L01613)

9 Aug 2011

2011 No. 193

21 Oct 2011 (see F2011L02103)

31 Oct 2011

2011 No. 278

9 Dec 2011 (see F2011L02615)

1 Jan 2012 (see r. 2)

2012 No. 2

13 Feb 2012 (see F2012L00273)

14 Feb 2012

2012 No. 183

6 Aug 2012 (see F2012L01654)

7 Aug 2012

2012 No. 203

20 Aug 2012 (see F2012L01710)

21 Aug 2012

2012 No. 316

10 Dec 2012 (see F2012L02386)

11 Dec 2012

2012 No. 317

11 Dec 2012 (see F2012L02407)

ss. 1–4 and Schedule 1: 29 Nov 2012 (see s. 2(a))
Schedule 2: 1 July 2013

2012 No. 330

11 Dec 2012 (see F2012L02408)

31 Jan 2013

14, 2013

18 Feb 2013 ( F2013L00212)

19 Feb 2013

26, 2013

4 Mar 2013 (F2013L00395)

Sch 3: 1 July 2013

61, 2013

30 Apr 2013 (F2013L00707)

Sch 2 (items 6–18): 1 July 2013

86, 2013

16 May 2013 (F2013L00783)

1 July 2013

105, 2013

30 May 2013 (F2013L00872)

1 July 2013: (s 2 and Gazette 2013, No GN25)

152, 2013

28 June 2013 (F2013L01264)

Sch 1 (item 22): 1 July 2013

155, 2013

28 June 2013 (F2013L01246)

Sch 1 (items 90–104) and Sch 2 (items 6–20): 1 July 2013

278, 2013

16 Dec 2013 (F2013L02118)

Sch 1 (items 18–42): 17 Dec 2013

127, 2014

26 Aug 2014
(F2014L01133)

Sch 1, 2, 3 (item 2) and
Sch 4–6: 27 Aug 2014 (s 2)

211, 2014

16 Dec 2014 (F2014L01718)

Sch 1: 17 Dec 2014 (s 2)

79, 2015

1 June 2015 (F2015L00773)

Sch 1 (items 8–11, 14–18): 2 June 2015 (s 2 items 4, 6)
Sch 1 (items 12, 13): 17 Dec 2013 (s 2 item 5)

 

Act

Number and year

Assent

Commencement

Application, saving and transitional provisions

Taxation Laws Amendment Act (No. 2) 1995

169, 1995

16 Dec 1995

Sch 7: 16 Dec 1995

Sch. 7 (item 3)

Tax Laws Amendment (2012 Measures No. 6) Act) 2013

84, 2013

28 June 2013

Sch 8 (items 8–16): 1 July 2007 (s 2(1) item 3)

Endnote 4—Amendment history

 

Provision affected

How affected

Part 1

 

r. 1.01...............................

rs. 1998 No. 312

r. 1.03...............................

am. 1994 No. 189; 1995 Nos. 64, 159 and 384; 1996 No. 344; 1997 Nos. 117, 293 and 309; 1998 Nos. 83, 193 and 312; 1999 Nos. 14 and 239; 2000 No. 280; 2001 No. 353; 2002 Nos. 150 and 353; 2003 No. 251; 2004 Nos. 12, 148, 153 and 249; 2005 Nos. 218 and 334; 2007 Nos. 74 and 343; 2008 No. 171; 2009 No. 71; 2012 No. 330; Nos. 86 and 155, 2013; No 127, 2014

r. 1.03A............................

ad. 1995 No. 64

 

am. 1995 No. 159; 1997 No. 117; 1999 Nos. 14 and 239; 2007 No. 74; 2012 No. 316

Note to r. 1.03A(3)...........

am. 1999 Nos. 14 and 317

 

rs. 2002 No. 200

r. 1.03AA..........................

ad. 2001 No. 353

 

am. 2002 No. 353; 2003 No. 251

r. 1.03AAA.......................

ad. No. 155, 2013

r. 1.03AB..........................

ad. 2002 No. 353

r. 1.03B.............................

ad. 2003 No. 251

 

rep. No. 86, 2013

r. 1.03C.............................

ad. No. 26, 2013

r. 1.04...............................

am. 1994 No. 432; 1995 Nos. 240 and 430; 1996 Nos. 122 and 344; 1997 No. 117; 1998 Nos. 83 and 193; 1999 No. 239; 2000 Nos. 185 and 280; 2001 No. 352; 2007 Nos. 74 and 343; 2011 No. 146; 2012 No. 330; No. 155, 2013

Note 1 to r. 1.04(5)...........

ad. 2000 No. 280

Note 2 to r. 1.04(5)...........

ad. 2000 No. 280

Notes to r. 1.04(8)............

rep. 2000 No. 280

r. 1.04AAAA....................

ad. 2005 No. 261

r. 1.04AAA.......................

ad. 2001 No. 353

 

am. 2002 No. 353; 2004 Nos. 113 and 153; 2005 No. 332

r. 1.04A............................

ad. 1999 No. 239

r. 1.04AA..........................

ad. 1999 No. 356

 

am. 2000 No. 119

Part 1A

 

Part 1A..............................

ad. 1994 No. 189

Division 1A.1

 

r. 105A.............................

ad. 2009 No. 106

r. 1.05...............................

ad. 1994 No. 189

 

am. 1997 No. 309; 1998 Nos. 193 and 312; 2002 No. 150; 2003 No. 171; 2004 Nos. 148, 249 and 404; 2005 Nos. 332 and 333; 2007 Nos. 74, 105 and 204; 2008 No. 282; 2009 No. 106; 2010 No. 4; No 278, 2013

r. 1.06...............................

ad. 1994 No. 189

 

am. 1997 No. 309; 1998 Nos. 193 and 312; 1999 No. 239; 2001 No. 353; 2002 Nos. 150 and 353; 2003 No. 171; 2004 Nos. 148, 249 and 404; 2005 No. 333; 2007 No. 74; 2007 Nos. 74, 105 and 204; 2008 No. 282; 2009 No. 106; No 278, 2013

r. 1.07...............................

ad. 1994 No. 189

r. 1.07A............................

ad. 2003 No. 171

 

am. 2004 No. 404; 2005 No. 333; 2007 Nos. 74 and 105; 2009 No. 106

r. 1.07B.............................

ad. 2003 No. 171

 

am. 2007 No. 74; 2010 No. 4

r. 1.07C.............................

ad. 2004 No. 148

 

am. 2004 No. 404; 2007 No. 74; 2009 No. 106; 2010 No. 4

r. 1.07D............................

ad. 2007 No. 74

 

am. 2009 No. 106

Division 1A.2

 

r. 1.08...............................

ad. 1994 No. 189

 

am. 1997 No. 309; 1998 No. 193; 1999 No. 239; 2002 No. 353; 2007 No. 74

Part 2

 

Heading to Part 2...............

rs. 2002 No. 21

Division 2.1

 

r. 2.01...............................

am. 1997 Nos. 117 and 309; 1998 No. 193; 1999 Nos. 115 and 239; 2002 No. 21

r. 2.03...............................

am. 1994 No. 189; 2002 No. 21

r. 2.04...............................

am. 1999 No. 14; 2002 Nos. 21 and 171

r. 2.05...............................

am. 1995 Nos. 64 and 384; 1997 No. 117; 1999 No. 14; 2001 No. 353

 

rep. 2002 No. 21

 

ad. 2002 No. 171

 

am. 2002 No. 353

rr. 2.06, 2.07.....................

rep. 2002 No. 21

Division 2.2......................

rep. 2002 No. 21

r. 2.08...............................

rs. 1995 No. 159

 

am. 1997 No. 117; 1998 No. 83

 

rep. 2002 No. 21

Notes to r. 2.08.................

am. 1995 No. 159

 

rep. 2002 No. 21

Note 2 to r. 2.08................

rs. 1998 No. 83

 

rep. 2002 No. 21

Note 4 to r. 2.08................

rs. 1997 No. 117

 

rep. 2002 No. 21

r. 2.09...............................

am. 1995 No. 159

 

rep. 2002 No. 21

r. 2.10...............................

am. 1995 No. 159; 1997 No. 117; 1999 No. 239

 

rep. 2002 No. 21

r. 2.11...............................

am. 1995 No. 159; 1999 No. 239

 

rep. 2002 No. 21

Heading to r. 2.11A...........

am. 1997 No. 117

 

rep. 2002 No. 21

r. 2.11A............................

ad. 1995 No. 159

 

am. 1997 No. 117; 1999 No. 14

 

rep. 2002 No. 21

Div. 2.3 of Part 2..............

rep. 2002 No. 21

r. 2.12...............................

am. 1995 No. 159; 1997 No. 117; 1999 No. 14

 

rep. 2002 No. 21

r. 2.13...............................

am. 1995 No. 64

 

rep. 2002 No. 21

r. 2.14...............................

am. 1995 No. 64; 1999 No. 14

 

rep. 2002 No. 21

r. 2.14A............................

ad. 1997 No. 117

 

rep. 2002 No. 21

r. 2.15...............................

rep. 2002 No. 21

r. 2.16...............................

am. 1995 No. 159; 1997 No. 117; 1999 No. 239

 

rep. 2002 No. 21

r. 2.16A............................

ad. 1997 No. 117

 

rep. 2002 No. 21

Division 2.4

 

Subdivision 2.4.1

 

r. 2.17...............................

am. 2002 Nos. 21 and 171

r. 2.18...............................

am. 1995 No. 159; 1999 No. 239; 2002 No. 21

r. 2.19...............................

am. 1998 No. 193

 

rep. 2002 No. 21

rr. 2.20, 2.21.....................

rep. 2002 No. 21

Subdiv. 2.4.2 of Div. 2.4..

rep. 2002 No. 21

r. 2.22...............................

am. 1997 No. 117

 

rep. 2002 No. 21

r. 2.23...............................

am. 1995 Nos. 158 and 159; 1997 No. 117; 1999 No. 239

 

rep. 2002 No. 21

r. 2.24...............................

am. 1997 Nos. 117 and 309; 1999 No. 239

 

rep. 2002 No. 21

rr. 2.24A, 2.24B................

ad. 1997 No. 117

 

rep. 2002 No. 21

r. 2.24C.............................

ad. 1999 No. 115

 

rep. 2002 No. 21

r. 2.25...............................

am. 1997 No. 309

 

rep. 2002 No. 21

r. 2.26...............................

rep. 2002 No. 21

r. 2.26A............................

ad. 1995 No. 64

 

am. 1997 No. 309

 

rep. 2002 No. 21

r. 2.26B.............................

ad. 1995 No. 64

 

am. 1995 No. 159

 

rep. 2002 No. 21

Subdivision 2.4.3

 

Heading to Subdiv. 2.4.3...

rs. 2002 No. 21

r. 2.27...............................

rep. 2002 No. 21

r. 2.28...............................

am. 1997 No. 117

 

rep. 2002 No. 21

r. 2.29...............................

am. 1995 Nos. 158 and 293; 1997 No. 309; 1998 Nos. 83 and 193

 

rs. 2002 No. 21

Division 2.5

 

Div. 2.5 of Part 2..............

rep. 2002 No. 21

 

ad. 2002 No. 171

Heading to r. 2.30.............

rs. 1999 No. 239

 

rep. 2002 No. 21

 

ad. 2002 No. 171

r. 2.30...............................

am. 1997 No. 309; 1999 No. 239

 

rep. 2002 No. 21

 

ad. 2002 No. 171

r. 2.31...............................

rs. 1998 No. 108

 

rep. 2002 No. 21

 

ad. 2002 No. 171

r. 2.32...............................

am. 1995 No. 159

 

rep. 2002 No. 21

 

ad. 2002 No. 171