Commonwealth Coat of Arms of Australia

Superannuation Industry (Supervision) Regulations 1994

Statutory Rules No. 57, 1994

made under the

Superannuation Industry (Supervision) Act 1993

Compilation No. 146

Compilation date: 1 November 2023

Includes amendments up to: F2023L01458

Registered: 25 November 2023

This compilation is in 2 volumes

Volume 1: regulations 1.01–14.36

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 1 November 2023 (the compilation date).

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 the Register (www.legislation.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 Register 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.

Editorial changes

For more information about any editorial changes made in this compilation, see 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 Register for the compiled law.

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If a provision of the compiled law has been repealed in accordance with a provision of the law, details are included in the endnotes.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

Schedule 1AA

Part 1—Exempt public sector superannuation schemes (199495 and 199596 years of income)

Part 2—Exempt public sector superannuation schemes (199697 year of income)

Part 3—Exempt public sector superannuation schemes (199798 year of income and subsequent years of income)

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

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

Schedule 1B—Pension valuation factors

Schedule 1—Conditions of release of benefits

Part 1—Regulated superannuation funds

Part 2—Approved deposit funds

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

Part 1—Modifications of the Occupational Superannuation Standards Act 1987

Part 2—Modifications of the Occupational Superannuation Standards Regulations

Schedule 2A—Information in notice under subsection 60E(2) of Act

Schedule 3—Prescribed form of advertisement of scheme for windingup or dissolution

Schedule 4—Approved bodies

1 Approved bodies

Schedule 6—Payments for market linked income streams

Schedule 7—Minimum payment amount for a superannuation income stream

Endnotes

Endnote 1—About the endnotes

Endnote 2—Abbreviation key

Endnote 3—Legislation history

Endnote 4—Amendment history

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 (199495 and 199596 years of income)

 

Commonwealth

Schemes established by or operated under:

 Defence Act 1903

 Defence Force Retirement and Death Benefits Act 1973

 GovernorGeneral 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 Noncontributory 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:

 AttorneyGeneral 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

 SolicitorGeneral 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 (199697 year of income)

 

Commonwealth

Schemes established by or operated under:

 Defence Act 1903

 Defence Force Retirement and Death Benefits Act 1973

 GovernorGeneral 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 Noncontributory 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

 SolicitorGeneral 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 (199798 year of income and subsequent years of income)

 

Commonwealth

Schemes established by or operated under:

 Australian Defence Force Cover Act 2015

 Defence Act 1903

 Defence Force Retirement and Death Benefits Act 1973

 Defence Forces Retirement Benefits Act 1948

 Federal Circuit and Family Court of Australia Act 2021

 GovernorGeneral 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 Noncontributory 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:

  Start formula start fraction AB over PVF end fraction end 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:

  Start formula start fraction AB over PVF end fraction end 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, 1 July 2010, 1 July 2019, 1 July 2020, 1 July 2021 and 1 July 2022, 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

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:

 Start formula start fraction $100,000 over 9.0 end fraction times start fraction 273 over 365 end fraction equals $8,310.50 (maximum limit, rounded to $8,310) end formula

 Start formula start fraction $100,000 over 17.8 end fraction times start fraction 273 over 365 end fraction equals $4,201.93 (minimum limit, rounded to $4,200) end formula

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:

 Start formula start fraction $99145 over 9.0 end fraction equals $11,016.11 (maximum limit, rounded to $11,020) end formula

 Start formula start fraction $99145 over 17.8 end fraction equals $5,569.94 (minimum limit, rounded to $5,570) end formula

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:

  Start formula start fraction AB over PVF end fraction end 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:

  Start formula start fraction AB over PVF end fraction end 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, 1 July 2010, 1 July 2019, 1 July 2020, 1 July 2021 and 1 July 2022, 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:

 Start formula start fraction $100,000 over 9.9 end fraction times start fraction 122 over 365 end fraction equals $3,376.23 (maximum limit, rounded to $3,380) end formula

 Start formula start fraction $100,000 over 17.3 end fraction times start fraction 122 over 365 end fraction equals $1,932.06 (minimum limit, rounded to $1,930) end formula

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:

 Start formula start fraction $99,300 over 9.9 equals $10,030.30 (maximum limit, rounded to $10,030) end formula

 Start formula start fraction $99,300 over 17.3 end fraction equals $5,739.88 (minimum limit, rounded to $5,740) end formula

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 casebycase 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 at 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 than 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, or may pay an amount to the Commissioner of Taxation under Part 3D of that Act, 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, or may pay to the Commissioner of Taxation under Part 3D of that Act, 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 employersponsor 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 nonpreserved 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

The Regulator has determined under subregulation 6.19A(2) that a specified amount of benefits in the regulated superannuation fund may be released on a 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

107A

The Regulator has determined under subregulation 6.19B(3) (about coronavirus) that a specified amount of benefits in the regulated superannuation fund may be released on a compassionate ground

A single lump sum, not exceeding the amount determined, in writing, by the Regulator in relation to the fund

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: Noncommutable life pension or noncommutable life annuity

2. Restricted nonpreserved benefits:  Nil

109

Temporary incapacity

A noncommutable 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

109A

For acquiring a superannuation interest (within the meaning of the 1997 Tax Act) that supports a deferred superannuation income stream to be provided under a contract or rules that meet the standards of subregulation 1.06A(2)

The restrictions contained in paragraph 1.06A(3)(e)

110

Attaining preservation age

Any of the following:

(a) a transition to retirement income stream;

(b) a noncommutable allocated annuity;

(c) a noncommutable allocated pension;

(d) a noncommutable annuity;

(e) a noncommutable 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 Division 131 in Schedule 1 to the Taxation Administration Act 1953

The restrictions contained in sections 13135 and 13140 in that Schedule

111B

A person gives a superannuation provider a release authority under section 13540 in Schedule 1 to the Taxation Administration Act 1953

The restrictions contained in sections 13575 and 13585 in that Schedule

113

A person gives a transitional release authority to a superannuation provider under section 29280B of the Income Tax (Transitional Provisions) Act 1997

Restrictions contained in subsections 29280C(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, or may pay an amount to the Commissioner of Taxation under Part 3D of that Act, 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, or may pay to the Commissioner of Taxation under Part 3D of that Act, 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 nonpreserved 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

The Regulator has determined under subregulation 6.19A(2) that a specified amount of benefits in the approved deposit fund may be released on a compassionate ground

A single lump sum, not exceeding the 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.

207AA

The Regulator has determined under subregulation 6.19B(3) (about coronavirus) that a specified amount of benefits in the approved deposit fund may be released on a compassionate ground

A single lump sum, not exceeding the amount determined, in writing, by the Regulator in relation to the fund

207A

For acquiring a superannuation interest (within the meaning of the 1997 Tax Act) that supports a deferred superannuation income stream to be provided under a contract or rules that meet the standards of subregulation 1.06A(2)

The restrictions contained in paragraph 1.06A(3)(e)

208

Attaining preservation age

Any of the following:

(a) a transition to retirement income stream;

 

 

(b) a noncommutable allocated annuity;

(c) a noncommutable allocated pension;

(d) a noncommutable annuity;

(e) a noncommutable pension

208A

The Commissioner of Taxation gives a superannuation provider a release authority under Division 131 in Schedule 1 to the Taxation Administration Act 1953

The restrictions contained in sections 13135 and 13140 in that Schedule

208B

A person gives a superannuation provider a release authority under section 13540 in Schedule 1 to the Taxation Administration Act 1953

The restrictions contained in sections 13575 and 13585 in that Schedule

210

A person gives a transitional release authority to a superannuation provider under section 29280B of the Income Tax (Transitional Provisions) Act 1997

Restrictions contained in subsections 29280C(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)

202.1A 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) memberfinanced 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) memberfinanced 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 2AInformation in notice under subsection 60E(2) of Act

Note: See subregulation 9AB.19(2).

 

[Use the following template if: the Part 6A product is a MySuper product]

Dear [insert the name of the beneficiary of the superannuation entity],

[If the conditions in subsection 60F(1) of the Act (2 consecutive fail assessments) are not satisfied, include the following paragraph]

Your superannuation product [insert the name of the superannuation entity and the name of the Part 6A product] has failed the annual performance test. You should think about moving your money to a different super fund.

[If the conditions in subsection 60F(1) of the Act (2 consecutive fail assessments) are satisfied, include the following paragraph]

Your superannuation product [insert the name of the superannuation entity and the name of the Part 6A product] has failed the annual performance test at least 2 years in a row. We are now banned from accepting new members into this product until it passes a future test. You should think about moving your money to a different super fund.

The Australian Government tests your super fund’s products every year to make sure your savings are well managed for when you retire. Funds that fail this test are required by law to tell you.

[If the beneficiary holds only one investment option offered by the superannuation entity, include the following two paragraphs]

You had $[insert the beneficiary’s account balance for the Part 6A product as at 30 June in the calendar year in which the date of this letter falls] invested with [insert the name of the superannuation entity and the name of the Part 6A product] on 30 June [insert the calendar year in which the date of this letter falls] and paid a total of $[insert total fees and costs charged to the beneficiary in the relevant financial year, excluding insurance fees] in fees in the last financial year.

Your money will stay in [insert the name of the superannuation entity and the name of the Part 6A product] unless you move it. Switching super funds is easy and there are no exit fees.

[If the beneficiary holds more than one investment option offered by the superannuation entity, include the following two paragraphs]

You had $[insert the beneficiary’s total account balance for all investment options offered by the superannuation entity as at 30 June in the calendar year in which the date of this letter falls] invested with [insert the name of the superannuation entity] on 30 June [insert the calendar year in which the date of this letter falls], of which $[insert the beneficiary’s account balance for the Part 6A product as at 30 June in the calendar year in which the date of this letter falls] was invested in [insert the name of the Part 6A product]. Last financial year you paid a total of $[insert total fees and costs charged to the beneficiary in the relevant financial year, excluding insurance fees] in fees to [insert the name of the superannuation entity].

Your money will stay in [insert the name of the superannuation entity and the name of the Part 6A product] unless you move it. Switching super funds is easy and there are no exit fees.

You could save thousands of dollars more for when you retire by switching to a better super fund. Super is a longterm investment. By earning 1% more each year for 30 years, you could retire with 20% more in savings; for example, your super could increase from $100,000 to $120,000.

Finding a better super fund is easy with the Australian Government’s YourSuper comparison tool. You can use the tool to compare the fees and earnings of all simple, lowcost MySuper products. Go to ato.gov.au/yoursuper or use the QR code below:

[insert QR code for ato.gov.au/yoursuper]

This letter does not take your personal situation into account. You should think about your investment plans and personal situation, including insurance, when switching.

When you have opened a new super account, contact the new fund or use myGov to move your money over.

Your questions answered

What is the annual performance test?

The annual government test checks how much your super product has earned (after costs) over the last [insert the number of financial years in the lookback period for the Part 6A product in respect of the relevant financial year] financial years. It compares your product’s earnings with those of a similar product over the same period.

Super funds with products that fail this test are required to tell you.

You can find out more about super at moneysmart.gov.au.

How do I move to a new super fund?

The first step is to find a new super fund. You should think about your investment plans and personal situation, including insurance, when switching.

You may find it helpful to use the Australian Government’s YourSuper comparison tool. You can use the tool to compare the fees and earnings of simple, lowcost MySuper products. Go to ato.gov.au/yoursuper or use the QR code above.

Once you have chosen a new super fund, contact the new fund to open a new account.

After opening a new account, move your money from your existing one. You can contact the new fund or use myGov to do this. Find out more at moneysmart.gov.au

What happens if a super product fails two or more years in a row?

If a super product fails the test at least two years in a row, it cannot accept new members until it passes a future test. You should think about the impact of this on the product’s ability to improve.

Your money will stay in the failed super product unless you move it.

 

[Use the following template if: one or more Part 6A products are a trusteedirected product, the beneficiary accessed the product via a generic or lifecycle investment menu, and the conditions in subsection 60F(1) of the Act (2 consecutive fail assessments) are not satisfied for these products]

Dear [insert the name of the beneficiary of the superannuation entity],

[If the beneficiary holds only one failed Part 6A product offered by the superannuation entity, include the following paragraph]

Your superannuation investment option [insert the name of the superannuation entity and the name of the Part 6A product] has failed the annual performance test. You should think about moving your money to a different super investment option or fund.

[If the beneficiary holds more than one failed Part 6A product offered by the superannuation entity, include the following paragraph]

You have multiple superannuation investment options in [insert the name of the superannuation entity] that have failed the annual performance test. You should think about moving your money to a different super investment option or fund.

The Australian Government tests your super fund’s investment options every year to make sure your savings are well managed for when you retire. Funds that fail this test are required by law to tell you.

You had $[insert the beneficiary’s total account balance for all investment options offered by the superannuation entity as at 30 June in the calendar year in which the date of this letter falls] invested in [insert the name of the superannuation entity] on 30 June [insert the calendar year in which the date of this letter falls] and paid a total of $[insert total fees and costs charged to the beneficiary in the relevant financial year, excluding insurance fees] in fees in the last financial year. You had the following amount invested in failing investment options: [insert a bullet list with the name of each failed Part 6A product, followed by the beneficiary’s account balance for that Part 6A product as at 30 June in the calendar year in which the date of this letter falls, in parentheses]

[If the bullet list above has one failed Part 6A product, include the following paragraph]

Your money will stay in this failing investment option in [insert the name of the superannuation entity] unless you move it.

[If the bullet list above has more than one failed Part 6A product, include the following paragraph]

Your money will stay in these failing investment options in [insert the name of the superannuation entity] unless you move it.

Finding a better super investment option could be worthwhile for your future. You could save thousands of dollars more for when you retire by switching to a better investment option or super fund. Super is a longterm investment. By earning 1% more each year for 30 years, you could retire with 20% more in savings; for example, your super could increase from $100,000 to $120,000.

You may find it helpful to use the Australian Government’s YourSuper comparison tool. You can use the tool to compare the fees and earnings of simple, lowcost MySuper investment options. Note that the investment options listed above are not MySuper investment options. You should think about whether a MySuper investment option is right for you. Go to ato.gov.au/yoursuper or use the QR code below:

[insert QR code for ato.gov.au/yoursuper]

This letter does not take your personal situation into account. Before switching investment options, you should think about your investment plans and personal situation, such as investment goals and values, as well as insurance, fee and tax impacts. You may wish to speak to a financial adviser about your personal circumstances if you are unsure.

Your questions answered

What is the annual performance test?

The annual government test checks how much your super investment option has earned (after costs) over time. It compares your investment option’s earnings with those of a similar investment option over the same period. The test is done at the investment option level. There may be a range of fees associated with an investment option. The test does not account for your personal situation, fees or tax.

Super funds with investment options that fail this test are required to tell you.

You can find out more about super at moneysmart.gov.au.

What things should I consider when deciding to switch super investment options or funds?

The performance test does not take into account your individual circumstances. You should think about your investment plans and personal situation, such as investment goals and values, as well as insurance, fees and tax impacts, when switching. You may wish to speak to a financial adviser about your personal circumstances.

How can I find a new super investment option or fund?

You may find it helpful to use the Australian Government’s YourSuper comparison tool. You can use the tool to compare the fees and earnings of simple, lowcost MySuper investment options. Note that the investment options listed above are not MySuper investment options. You should think about whether a MySuper investment option is right for you. Go to ato.gov.au/yoursuper or use the QR code above.

How do I consolidate my super?

If you open an account with a new super fund, contact the new fund or use myGov to consolidate your money, saving on fees by avoiding charges on multiple accounts.

What happens if a super investment option fails two or more years in a row?

If a super investment option fails the test at least two years in a row, it cannot accept new members until it passes a future test. You should think about the impact of this on the investment option’s ability to improve.

Your money will stay in the failed super investment option unless you move it.

 

[Use the following template if: one or more Part 6A products are a trusteedirected product, the beneficiary accessed the product via a generic or lifecycle investment menu, and the conditions in subsection 60F(1) of the Act (2 consecutive fail assessments) are satisfied for these products]

Dear [insert the name of the beneficiary of the superannuation entity],

[If the beneficiary holds only one failed Part 6A product offered by the superannuation entity, include the following paragraph]

Your superannuation investment option [insert the name of the superannuation entity and the name of the Part 6A product] has failed the annual performance test at least 2 years in a row. We are now banned from accepting new members into this investment option until it passes a future test. You should think about moving your money to a different super investment option or fund.

[If the beneficiary holds more than one failed Part 6A product offered by the superannuation entity, include the following paragraph]

You have multiple superannuation investment options in [insert the name of the superannuation entity] that have failed the annual performance test at least 2 years in a row. We are now banned from accepting new members into these investment options until they pass a future test. You should think about moving your money to a different super investment option or fund.

The Australian Government tests your super fund’s investment options every year to make sure your savings are well managed for when you retire. Funds that fail this test are required by law to tell you.

You had $[insert the beneficiary’s total account balance for all investment options offered by the superannuation entity as at 30 June in the calendar year in which the date of this letter falls] invested in [insert the name of the superannuation entity] on 30 June [insert the calendar year in which the date of this letter falls] and paid a total of $[insert total fees and costs charged to the beneficiary in the relevant financial year, excluding insurance fees] in fees in the last financial year. You had the following amount invested in failing investment options: [insert a bullet list with the name of each failed Part 6A product, followed by the beneficiary’s account balance for that Part 6A product as at 30 June in the calendar year in which the date of this letter falls, in parentheses]

[If the bullet list above has one failed Part 6A product, include the following paragraph]

Your money will stay in this failing investment option in [insert the name of the superannuation entity] unless you move it.

[If the bullet list above has more than one failed Part 6A product, include the following paragraph]

Your money will stay in these failing investment options in [insert the name of the superannuation entity] unless you move it.

Finding a better super investment option could be worthwhile for your future. You could save thousands of dollars more for when you retire by switching to a better investment option or super fund. Super is a longterm investment. By earning 1% more each year for 30 years, you could retire with 20% more in savings; for example, your super could increase from $100,000 to $120,000.

You may find it helpful to use the Australian Government’s YourSuper comparison tool. You can use the tool to compare the fees and earnings of simple, lowcost MySuper investment options. Note that the investment options listed above are not MySuper investment options. You should think about whether a MySuper investment option is right for you. Go to ato.gov.au/yoursuper or use the QR code below:

[insert QR code for ato.gov.au/yoursuper]

This letter does not take your personal situation into account. Before switching investment options, you should think about your investment plans and personal situation, such as investment goals and values, as well as insurance, fee and tax impacts. You may wish to speak to a financial adviser about your personal circumstances if you are unsure.

Your questions answered

What is the annual performance test?

The annual government test checks how much your super investment option has earned (after costs) over time. It compares your investment option’s earnings with those of a similar investment option over the same period. The test is done at the investment option level. There may be a range of fees associated with an investment option. The test does not account for your personal situation, fees or tax.

Super funds with investment options that fail this test are required to tell you.

You can find out more about super at moneysmart.gov.au.

What things should I consider when deciding to switch super investment options or funds?

The performance test does not take into account your individual circumstances. You should think about your investment plans and personal situation, such as investment goals and values, as well as insurance, fees and tax impacts, when switching. You may wish to speak to a financial adviser about your personal circumstances.

How can I find a new super investment option or fund?

You may find it helpful to use the Australian Government’s YourSuper comparison tool. You can use the tool to compare the fees and earnings of simple, lowcost MySuper investment options. Note that the investment options listed above are not MySuper investment options. You should think about whether a MySuper investment option is right for you. Go to ato.gov.au/yoursuper or use the QR code above.

How do I consolidate my super?

If you open an account with a new super fund, contact the new fund or use myGov to consolidate your money, saving on fees by avoiding charges on multiple accounts.

What happens if a super investment option fails two or more years in a row?

If a super investment option fails the test at least two years in a row, it cannot accept new members until it passes a future test. You should think about the impact of this on the investment option’s ability to improve.

Your money will stay in the failed super investment option unless you move it.

 

[Use the following template if: one or more Part 6A products are a trusteedirected product, the beneficiary accessed the product via a platform investment menu, and the conditions in subsection 60F(1) of the Act (2 consecutive fail assessments) are not satisfied for these products]

Dear [insert the name of the beneficiary of the superannuation entity],

[If the beneficiary holds only one failed Part 6A product offered by the superannuation entity, include the following paragraph]

Your superannuation investment option [insert the name of the superannuation entity and the name of the Part 6A product] has failed the annual performance test. You should think about moving your money to a different super investment option or fund.

[If the beneficiary holds more than one failed Part 6A product offered by the superannuation entity, include the following paragraph]

You have multiple superannuation investment options in [insert the name of the superannuation entity] that have failed the annual performance test. You should think about moving your money to a different super investment option or fund.

The Australian Government tests your super fund’s investment options every year to make sure your savings are well managed for when you retire. Funds that fail this test are required by law to tell you.

You had $[insert the beneficiary’s total account balance for all investment options offered by the superannuation entity as at 30 June in the calendar year in which the date of this letter falls] invested in [insert the name of the superannuation entity] on 30 June [insert the calendar year in which the date of this letter falls] and paid a total of $[insert total fees and costs charged to the beneficiary in the relevant financial year, excluding insurance fees] in fees in the last financial year. You had the following amount invested in failing investment options: [insert a bullet list with the name of each failed Part 6A product, followed by the beneficiary’s account balance for that Part 6A product as at 30 June in the calendar year in which the date of this letter falls, in parentheses]

[If the bullet list above has one failed Part 6A product, include the following paragraph]

Your money will stay in this failing investment option in [insert the name of the superannuation entity] unless you move it.

[If the bullet list above has more than one failed Part 6A product, include the following paragraph]

Your money will stay in these failing investment options in [insert the name of the superannuation entity] unless you move it.

Finding a better super investment option could be worthwhile for your future. You could save thousands of dollars more for when you retire by switching to a better investment option or super fund. Super is a longterm investment. By earning 1% more each year for 30 years, you could retire with 20% more in savings; for example, your super could increase from $100,000 to $120,000.

This letter does not take your personal situation into account. Before switching investment options, you should think about your investment plans and personal situation, such as investment goals and values, as well as insurance, fee and tax impacts. You may wish to speak to a financial adviser about your personal circumstances if you are unsure.

Your questions answered

What is the annual performance test?

The annual government test checks how much your super investment option has earned for you (after costs) over time. It compares your investment option’s earnings with those of a similar investment option over the same period. The test is done at the investment option level. There may be a range of fees associated with an investment option. The test does not account for your personal situation, fees or tax.

Super funds with investment options that fail this test are required to tell you.

You can find out more about super at moneysmart.gov.au.

What things should I consider when deciding to switch super investment options or funds?

The performance test does not take into account your individual circumstances. You should think about your investment plans and personal situation, such as investment goals and values, as well as insurance, fees and tax impacts, when switching. You may wish to speak to a financial adviser about your personal circumstances.

How can I find a new super investment option or fund?

You may find it helpful to use the Australian Government’s YourSuper comparison tool. You can use the tool to compare the fees and earnings of simple, lowcost MySuper investment options. Note that the investment options listed above are not MySuper investment options. You should think about whether a MySuper investment option is right for you. Go to ato.gov.au/yoursuper or use the QR code below:

[insert QR code for ato.gov.au/yoursuper]

How do I consolidate my super?

If you open an account with a new super fund, contact the new fund or use myGov to consolidate your money, saving on fees by avoiding charges on multiple accounts.

What happens if a super investment option fails two or more years in a row?

If a super investment option fails the test at least two years in a row, it cannot accept new members until it passes a future test. You should think about the impact of this on the investment option’s ability to improve.

Your money will stay in the failed super investment option unless you move it.

 

[Use the following template if: one or more Part 6A products are a trusteedirected product, the beneficiary accessed the product via a platform investment menu, and the conditions in subsection 60F(1) of the Act (2 consecutive fail assessments) are satisfied for these products]

Dear [insert the name of the beneficiary of the superannuation entity],

[If the beneficiary holds only one failed Part 6A product offered by the superannuation entity, include the following paragraph]

Your superannuation investment option [insert the name of the superannuation entity and the name of the Part 6A product] has failed the annual performance test at least 2 years in a row. We are now banned from accepting new members into this investment option until it passes a future test. You should think about moving your money to a different super investment option or fund.

[If the beneficiary holds more than one failed Part 6A product offered by the superannuation entity, include the following paragraph]

You have multiple superannuation investment options in [insert the name of the superannuation entity] that have failed the annual performance test at least 2 years in a row. We are now banned from accepting new members into these investment options until they pass a future test. You should think about moving your money to a different super investment option or fund.

The Australian Government tests your super fund’s investment options every year to make sure your savings are well managed for when you retire. Funds that fail this test are required by law to tell you.

You had $[insert the beneficiary’s total account balance for all investment options offered by the superannuation entity as at 30 June in the calendar year in which the date of this letter falls] invested in [insert the name of the superannuation entity] on 30 June [insert the calendar year in which the date of this letter falls] and paid a total of $[insert total fees and costs charged to the beneficiary in the relevant financial year, excluding insurance fees] in fees in the last financial year. You had the following amount invested in failing investment options: [insert a bullet list with the name of each failed Part 6A product, followed by the beneficiary’s account balance for that Part 6A product as at 30 June in the calendar year in which the date of this letter falls, in parentheses]

[If the bullet list above has one failed Part 6A product, include the following paragraph]

Your money will stay in this failing investment option in [insert the name of the superannuation entity] unless you move it.

[If the bullet list above has more than one failed Part 6A product, include the following paragraph]

Your money will stay in these failing investment options in [insert the name of the superannuation entity] unless you move it.

Finding a better super investment option could be worthwhile for your future. You could save thousands of dollars more for when you retire by switching to a better investment option or super fund. Super is a longterm investment. By earning 1% more each year for 30 years, you could retire with 20% more in savings; for example, your super could increase from $100,000 to $120,000.

This letter does not take your personal situation into account. Before switching investment options, you should think about your investment plans and personal situation, such as investment goals and values, as well as insurance, fee and tax impacts. You may wish to speak to a financial adviser about your personal circumstances if you are unsure.

Your questions answered

What is the annual performance test?

The annual government test checks how much your super investment option has earned for you (after costs) over time. It compares your investment option’s earnings with those of a similar investment option over the same period. The test is done at the investment option level. There may be a range of fees associated with an investment option. The test does not account for your personal situation, fees or tax.

Super funds with investment options that fail this test are required to tell you.

You can find out more about super at moneysmart.gov.au.

What things should I consider when deciding to switch super investment options or funds?

The performance test does not take into account your individual circumstances. You should think about your investment plans and personal situation, such as investment goals and values, as well as insurance, fees and tax impacts, when switching. You may wish to speak to a financial adviser about your personal circumstances.

How can I find a new super investment option or fund?

You may find it helpful to use the Australian Government’s YourSuper comparison tool. You can use the tool to compare the fees and earnings of simple, lowcost MySuper investment options. Note that the investment options listed above are not MySuper investment options. You should think about whether a MySuper investment option is right for you. Go to ato.gov.au/yoursuper or use the QR code below:

[insert QR code for ato.gov.au/yoursuper]

How do I consolidate my super?

If you open an account with a new super fund, contact the new fund or use myGov to consolidate your money, saving on fees by avoiding charges on multiple accounts.

What happens if a super investment option fails two or more years in a row?

If a super investment option fails the test at least two years in a row, it cannot accept new members until it passes a future test. You should think about the impact of this on the investment option’s ability to improve.

Your money will stay in the failed super investment option unless you move it.

Schedule 3Prescribed form of advertisement of scheme for windingup or dissolution

(regulation 13.20)

 

Scheme for [insert ‘Windingup’, ‘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 ‘Windingup’, ‘Dissolution’ or 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

Note: See the definition of approved body in subregulation 13.15A(2).

 

 

1  Approved bodies

  Each body in the following table is an approved body for the purposes of regulation 13.15A.

 

Approved bodies

Item

Body

1A

AB NASDAQ Vilnius (XLIT)

1

ASX24 (formerly known as Sydney Futures Exchange)

2

ASX Clear (Futures) Pty Limited

3

ASX Clear Pty Limited

4

ASX operated by ASX Limited

5

Athens Exchange (ATHEX)

6

Athens Exchange Clearing House (ATHEX Clear)

7

BATS BZX Options Exchange

8

BME Clearing

9

BM&FBOVESPA

10

Bombay Stock Exchange

11

Borsa Istanbul

11A

Borsa Istanbul Futures & Options Market

12

Boston Options Exchange

13

Bourse de Montréal

14

Budapesti Értéktözsde

15

Bursa Malaysia Derivatives (BMD)

16

Cantor Clearinghouse, L.P.

17

Cassa di Compensazione e Garanzia S.p.A (CCG)

18

CBOE Futures Exchange

19

CCP Austria Abwicklungsstelle für Börsengeschäfte GmbH (CCP .A)

20

CDSClear operated by LCH.Clearnet SA

21

CEGH Gas Exchange of Vienna Stock Exchange

22

Central Depository (Pte) Limited

23

Chicago Board of Trade (CBOT)

24

Chicago Board Options Exchange (CBOE)

25

Chicago Climate Futures Exchange

26

China Financial Futures Exchange (CFFEX)

27

CME Clearing

28

CME Clearing Europe (CMECE)

28A

CommodityClear operated by LCH.Clearnet Limited

29

Commodity Exchange (COMEX) operated by New York Mercantile Exchange, Inc.

30

Dalian Commodity Exchange

31

Dubai Gold & Commodities Exchange (DGCX)

32

Dubai Mercantile Exchange (DME)

33

Electronic Liquidity Exchange operated by ELX Futures LP

35

EPEX SPOT SE

36

Eurex Clearing AG

37

Eurex Deutschland

37A

EuroGCplus operated by LCH.Clearnet SA

38

Euronext Amsterdam Derivatives Regulated Market operated by Euronext Amsterdam NV

39

Euronext Amsterdam Securities Regulated Market operated by Euronext Amsterdam NV

40

Euronext Brussels Derivatives Regulated Market operated by Euronext Brussels SA/NV

41

Euronext Brussels Securities Regulated Market operated by Euronext Brussels SA/NV

42

Euronext Lisbon Derivatives Regulated Market operated by Euronext Lisbon – Sociedade Gestora de Mercados Regulamentados, S.A.

43

Euronext Lisbon Securities Regulated Market operated by Euronext Lisbon – Sociedade Gestora de Mercados Regulamentados, S.A.

44

Euronext London Securities Regulated Market operated by Euronext London Limited

45

Euronext Paris Derivatives Regulated Market by Euronext Paris S.A.

46

Euronext Paris Securities Regulated Market by Euronext Paris S.A.

47

Euronext Paris MATIF (Marché à Terme International de France) (XMAT)

48

Euronext Paris MONEP (Marché des Options Négociables de Paris) (XMON)

49

European Central Counterparty N.V. (EuroCCP)

50

European Climate Exchange (ECX)

51

European Commodity Clearing AG

52

European Energy Exchange (EEX)

53

ForexClear operated by LCH.Clearnet Limited

54

HKFE Clearing Corporation Limited (HKCC)

55

Hong Kong Exchange and Clearing Ltd (HKEX)

56

Hong Kong Futures Exchange Limited (HKFE)

57

Hong Kong Securities Clearing Company Limited (HKSCC)

58

Hungarian Power Exchange operated by HUPX Ltd

59

ICAP Securities and Derivatives Exchange (ISDX)

60

ICE Clear Credit LLC

61

ICE Clear Europe Limited

62

ICE Clear Netherlands B.V.

63

ICE Clear Singapore

64

ICE Clear US, Inc

65

ICE Endex Derivatives B.V.

66

ICE Futures Canada, Inc

67

ICE Futures Europe

68

ICE Futures U.S., Inc

69

International Securities Exchange

70

Italian Derivatives Market (IDEM)

71

Italian Stock Exchange operated by Borsa Italiana S.p.A

72

Jakarta Futures Exchange (JFX)

73

Japan Securities Clearing Corporation (JSCC)

74

Johannesburg Stock Exchange (JSE)

74A

JSE Commodity Derivatives Market

75

KDPW_CCP S.A.

76

Keler CCP

77

KOSPI Market operated by the Korea Exchange

78

LME Clear Limited

79

Mercado Español de Futuros Financieros

80

Mexican Derivatives Exchange (MexDer)

81

Minneapolis Grain Exchange, Inc.

82

Montréal Climate Exchange (MCex)

83

NASDAQ BX, Inc.

84

NASDAQ Commodities operated by NASDAQ Oslo ASA

85

NASDAQ Copenhagen A/S

86

NASDAQ Derivatives Markets operated by NASDAQ Stockholm AB

87

NASDAQ Futures (NFX) operated by NASDAQ Futures, Inc.

88

NASDAQ Helsinki Ltd

89

NASDAQ Iceland hf.

90

NASDAQ NLX Ltd

91

NASDAQ OMX Armenia

92

NASDAQ PHLX LLC

93

NASDAQ PSX operated by NASDAQ PHLX LLC

94

NASDAQ Riga, AS (XRIS)

95

NASDAQ Stockholm AB (XSTO)

96

NASDAQ Tallinn AS (XTAL)

97

National Stock Exchange of India Ltd

98

New York Stock Exchange (NYSE) operated by the New York Stock Exchange LLC

99

Nodal Clear, LLC

100

Nodal Exchange, LLC

101

NYMEX Emissions operated by New York Mercantile Exchange, Inc.

102

NYMEX operated by New York Mercantile Exchange, Inc.

103

NYSE MKT operated by NYSE MKT LLC

104

NYSE Amex Option operated by NYSE MKT LLC

105

NYSE Arca Equities operated by NYSE Arca Equities, Inc.

106

NYSE Arca Options operated by NYSE Arca Equities, Inc.

106A

NZX Main Board operated by NZX Limited

107

OMIClear, C.C., S.A.

108

OneChicago LLC

109

Osaka Exchange, Inc. (OSE)

110

Oslo Bors operated by Oslo Børs ASA

111

OTC Clearing Hong Kong Limited (OTC Clear)

112

Power Exchange Central Europe, a.s. (PXE)

113

Powernext SA

114

RepoClear operated by LCH.Clearnet Limited

115

RepoClear operated by LCH.Clearnet SA

116

Shanghai Futures Exchange (SHFE)

117

Singapore Exchange Derivatives Clearing Limited (SGXDC)

117A

Singapore Exchange Derivatives Trading Limited (SGXDT)

118

Singapore Exchange Securities Trading Limited (SGXST)

119

SIX xclear Ltd

120

SwapClear operated by LCH.Clearnet Limited

121

Taiwan Futures Exchange (TAIFEX)

122

Tel Aviv Stock Exchange Ltd

123

Thailand Futures Exchange (TFEX) operated by the Thailand Futures Exchange Public Company Limited

124

The Chicago Mercantile Exchange (CME)

126

The Derivatives market operated by Moscow Exchange MICEXRTS

127

The Equity and Bond market operated by Moscow Exchange MICEXRTS

128

The Equity Derivatives Market operated by the Johannesburg Stock Exchange Limited (formerly SAFEX)

129

The London Metal Exchange

130

The London Stock Exchange Derivatives Market

132

The Main Market operated by the London Stock Exchange

133

The Official Market and Second Regulated Market operated by Wiener Börse AG

134

The Options Clearing Corporation (OCC)

135

The SEHK Options Clearing House Limited (SEOCH)

136

The Stock Exchange of Hong Kong Limited

138

Tokyo Commodity Exchange, Inc

139

Tokyo Financial Exchange, Inc (TFX)

140

Tokyo Stock Exchange, Inc. (TSE)

141

Toronto Stock Exchange operated by TSX Inc.

143

Warsaw Stock Exchange (GPW)

144

A body that performs clearing house functions, in relation to an approved body that does not itself perform those functions, in accordance with the rules of the approved body or a law of the country where the approved 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:

  Start formula start fraction AB over PF end fraction end 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, 1 July 2010, 1 July 2019, 1 July 2020, 1 July 2021 and 1 July 2022, 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:

  Start formula account balance times percentage factor end 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 subsubparagraph 1.05(11A)(b)(ii)(D); and

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

is the amount worked out using the formula:

Start formula purchase price times percentage factor end 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, 1 July 2010, 1 July 2019, 1 July 2020, 1 July 2021 and 1 July 2022, 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

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.

Editorial changes

The Legislation Act 2003 authorises First Parliamentary Counsel to make editorial and presentational changes to a compiled law in preparing a compilation of the law for registration. The changes must not change the effect of the law. Editorial changes take effect from the compilation registration date.

If the compilation includes editorial changes, the endnotes include a brief outline of the changes in general terms. Full details of any changes can be obtained from the Office of Parliamentary Counsel.

Misdescribed amendments

A misdescribed amendment is an amendment that does not accurately describe how an amendment is to be made. If, despite the misdescription, the amendment can be given effect as intended, then the misdescribed amendment can be incorporated through an editorial change made under section 15V of the Legislation Act 2003.

If a misdescribed amendment cannot be given effect as intended, the amendment is not incorporated and “(md not incorp)” is added to the amendment history.

 

Endnote 2—Abbreviation key

 

ad = added or inserted

o = order(s)

am = amended

Ord = Ordinance

amdt = amendment

orig = original

c = clause(s)

par = paragraph(s)/subparagraph(s)

C[x] = Compilation No. x

/subsubparagraph(s)

Ch = Chapter(s)

pres = present

def = definition(s)

prev = previous

Dict = Dictionary

(prev…) = previously

disallowed = disallowed by Parliament

Pt = Part(s)

Div = Division(s)

r = regulation(s)/rule(s)

ed = editorial change

reloc = relocated

exp = expires/expired or ceases/ceased to have

renum = renumbered

effect

rep = repealed

F = Federal Register of Legislation

rs = repealed and substituted

gaz = gazette

s = section(s)/subsection(s)

LA = Legislation Act 2003

Sch = Schedule(s)

LIA = Legislative Instruments Act 2003

Sdiv = Subdivision(s)

(md) = misdescribed amendment can be given

SLI = Select Legislative Instrument

effect

SR = Statutory Rules

(md not incorp) = misdescribed amendment

SubCh = SubChapter(s)

cannot be given effect

SubPt = Subpart(s)

mod = modified/modification

underlining = whole or part not

No. = Number(s)

commenced or to be commenced

 

Endnote 3—Legislation history

 

Number and year

FRLI registration or gazettal

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 (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

r 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 (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 (r 2 and gaz 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 (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 Sept 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

Sch 2: 1 July 2006 (r 2(b))
Remainder: 1 July 2004 (r 2(a))

2004 No. 148

25 June 2004

Sch 2: 1 Sept 2004 (r 2(b))
Sch 3: 20 Sept 2004 (r 2(c))
Remainder: 1 July 2004 (r 2(a))

2004 No. 152

25 June 2004

25 June 2004

2004 No. 153

25 June 2004

Sch 2: 1 July 2004 (r 2(b))
Remainder: 25 June 2004 (r 2(a))

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

Sch 2: 20 Sept 2004 (r 2(b))
Remainder: 1 Oct 2003 (r 2(a))

2005 No. 34

14 Mar 2005 (F2005L00635)

1 July 2005

2005 No. 56

4 Apr 2005 (F2005L00729)

1 July 2005

2005 No. 142

16 June 2005 (F2005L01457)

1 July 2005

2005 No. 143

17 June 2005 (F2005L01452)

18 June 2005

2005 No. 218

7 Oct 2005 (F2005L02918)

Sch 1 (items 33–38): 8 Oct 2005

2005 No. 261

14 Nov 2005 (F2005L03446)

15 Nov 2005

2005 No. 332

20 Dec 2005 (F2005L03987)

Sch 2: 1 July 2006 (r 2(b))
Remainder: 21 Dec 2005 (r 2(a))

2005 No. 333

20 Dec 2005 (F2005L04028)

Sch 2: 1 Jan 2006 (r 2(b))
Remainder: 21 Dec 2005 (r 2(a))

2005 No. 334

20 Dec 2005 (F2005L04025)

Sch 2: 1 Jan 2006 (r 2(b))
Remainder: 21 Dec 2005 (r 2(a))

2005 No. 335

20 Dec 2005 (F2005L04047)

21 Dec 2005 (r 2)

r 4

2006 No. 189

17 July 2006 (F2006L02318)

18 July 2006 (r 2)

2007 No. 74

2 Apr 2007 (F2007L00820)

Sch 1: 3 Apr 2007 (r 2(a))
Sch 2: 5 Apr 2007 (r 2(b))
Sch 3: 1 July 2007 (r 2(c))

2007 No. 105

27 Apr 2007 (F2007L01127)

1 July 2007 (r 2)

2007 No. 204

29 June 2007 (F2007L01891)

1 July 2007 (r 2)

2007 No. 331

28 Sept 2007 (F2007L03806)

29 Sept 2007 (r 2)

2007 No. 343

8 Oct 2007 (F2007L03906)

r 1–3 and Sch 1: 24 Sept 2007 (r 2(a))
Sch 2: 25 Sept 2008 (r 2(b))

as amended by

 

 

 

2008 No. 133

25 June 2008 (F2008L02174)

4 Oct 2007 (r 2)

2008 No. 9

15 Feb 2008 (F2008L00373)

16 Feb 2008 (r 2)

2008 No. 134

25 June 2008 (F2008L02173)

4 Oct 2007 (r 2)

r 2(2)

2008 No. 171

8 Aug 2008 (F2008L02956)

9 Aug 2008 (r 2)

2008 No. 282

17 Dec 2008 (F2008L04665)

Sch 1: 18 Dec 2008 (r 2(a))
Sch 2: 1 Apr 2009 (r 2(b))
Sch 3: 1 July 2009 (r 2(c))

15, 2009

6 Feb 2009 (F2009L00258)

Sch 1: 7 Feb 2009 (r 2(a))
Sch 2: 1 Apr 2009 (r 2(b))

46, 2009

16 Mar 2009 (F2009L00983)

17 Mar 2009 (r 2)

71, 2009

1 May 2009 (F2009L01485)

2 May 2009 (r 2)

106, 2009

5 June 2009 (F2009L02156)

6 June 2009 (r 2)

295, 2009

2 Nov 2009 (F2009L04000)

3 Nov 2009 (r 2)

389, 2009

16 Dec 2009 (F2009L04513)

17 Dec 2009 (r 2)

4, 2010

11 Feb 2010 (F2010L00299)

1 July 2007 (r 2)

187, 2010

30 June 2010 (F2010L01814)

1 July 2010 (r 2)

237, 2010

21 July 2010 (F2010L02058)

22 July 2010 (r 2)

83, 2011

3 June 2011 (F2011L00936)

4 June 2011 (r 2)

130, 2011

30 June 2011 (F2011L01360)

1 July 2011 (r 2)

146, 2011

8 Aug 2011 (F2011L01613)

9 Aug 2011 (r 2)

193, 2011

21 Oct 2011 (F2011L02103)

31 Oct 2011 (r 2)

278, 2011

9 Dec 2011 (F2011L02615)

1 Jan 2012 (r 2)

2, 2012

13 Feb 2012 (F2012L00273)

14 Feb 2012 (s 2)

183, 2012

6 Aug 2012 (F2012L01654)

7 Aug 2012 (s 2)

203, 2012

20 Aug 2012 (F2012L01710)

21 Aug 2012 (s 2)

316, 2012

10 Dec 2012 (F2012L02386)

11 Dec 2012 (s 2)

317, 2012

11 Dec 2012 (F2012L02407)

Sch 2: 1 July 2013 (s 2(b))
Remainder: 29 Nov 2012 (s 2(a))

330, 2012

11 Dec 2012 (F2012L02408)

31 Jan 2013 (s 2)

14, 2013

18 Feb 2013 (F2013L00212)

19 Feb 2013 (s 2)

26, 2013

4 Mar 2013 (F2013L00395)

Sch 3: 1 July 2013 (s 2(1) item 4)

61, 2013

30 Apr 2013 (F2013L00707)

Sch 2 (items 6–18): 1 July 2013 (s 2 item 3)

86, 2013

16 May 2013 (F2013L00783)

1 July 2013 (s 2)

105, 2013

30 May 2013 (F2013L00872)

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

152, 2013

28 June 2013 (F2013L01264)

Sch 1 (item 22): 1 July 2013 (s 2)

155, 2013

28 June 2013 (F2013L01246)

Sch 1 (items 90–104) and Sch 2 (items 6–20): 1 July 2013 (s 2 items 4, 6)

278, 2013

16 Dec 2013 (F2013L02118)

Sch 1 (items 18–42): 17 Dec 2013 (s 2)

127, 2014

26 Aug 2014 (F2014L01133)

Sch 1, 2, Sch 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)

91, 2015

18 June 2015 (F2015L00840)

Sch 1 (items 34–45): 1 July 2015 (s 2(1) item 2)

Sch 1 (items 40–45)

110, 2015

29 June 2015 (F2015L00968)

Sch 1 (item 3): 1 July 2015 (s 2(1) item 1)

156, 2015

9 Sept 2015 (F2015L01416)

Sch 1 (item 5): 10 Sept 2015 (s 2(1) item 1)

SLI No. 155, 2015 (s 23)

 

Name

Registration

Commencement

Application, saving and transitional provisions

Treasury Laws Amendment (2016 Measures No. 1) Regulation 2016

26 Feb 2016 (F2016L00156)

Sch 3 (items 6–10): 27 Feb 2016 (s 2(1) item 1)

Tax and Superannuation Laws Amendment (2016 Measures No. 1) Regulation 2016

15 Apr 2016 (F2016L00518)

Sch 2: 16 Apr 2016 (s 2(1) item 3)

Treasury Laws Amendment (2016 Measures No. 2) Regulation 2016

9 May 2016 (F2016L00705)

Sch 1 (items 6, 7):  never commenced (s 2(1) item 2)

Tax and Superannuation Laws Amendment (2016 Measures No. 2) Regulation 2016

9 May 2016 (F2016L00710)

Sch 1 (items 2, 3) and Sch 2 (items 1–3): 10 May 2016 (s 2(1) items 2, 3)
Sch 2 (item 4): 1 July 2016 (s 2(1) item 4)

Financial System Legislation Amendment (Resilience and Collateral Protection) Regulation 2016

9 May 2016 (F2016L00724)

Sch 1 (items 7–12) and Sch 3 (item 2): 1 June 2016 (s 2(1) item 1)

Financial Services Legislation Amendment (Wholesale Margining) Regulation 2016

28 Oct 2016 (F2016L01657)

Sch 3: 29 Oct 2016 (s 2(1) item 1)

Treasury Laws Amendment (Fair and Sustainable Superannuation) Regulations 2017

27 Mar 2017 (F2017L00321)

Sch 1 (items 12–23), Sch 3 (items 7–13), Sch 7 (items 4, 5), Sch 8 (items 23, 24), Sch 9 (item 2), Sch 10 (item 4): 28 Mar 2017 (s 2(1) items 2, 4, 6, 7)
Sch 8 (items 8–21): 1 July 2018 (s 2(1) item 5)

Treasury Laws Amendment (2017 Measures No. 1) Regulations 2017

21 June 2017 (F2017L00704)

Sch 1 (items 11–25): 1 July 2017 (s 2(1) item 1)

Treasury Laws Amendment (Reducing Pressure on Housing Affordability Measures No. 1) Regulations 2018

7 Mar 2018 (F2018L00210)

Sch 2 (items 4–6): 8 Mar 2018 (s 2(1) item 3)

Treasury Laws Amendment (Putting Consumers First—Establishment of the Australian Financial Complaints Authority) Regulations 2018

24 Apr 2018 (F2018L00515)

Sch 1 (items 29–31) and Sch 2 (item 3): 25 Apr 2018 (s 2(1) items 4, 8)
Sch 3 (items 8, 9): 5 Mar 2022 (s 2(1) item 10)

Treasury Laws Amendment (Release of Superannuation on Compassionate Grounds) Regulations 2018

30 May 2018 (F2018L00676)

Sch 1 (items 5–9): 1 July 2018 (s 2(1) item 2)

Treasury Laws Amendment (ASIC Fees) Regulations 2018

29 June 2018 (F2018L00965)

Sch 1 (item 43): 4 July 2018 (s 2(1) item 2)

Treasury Laws Amendment (2018 Measures No. 2) Regulations 2018

28 Sept 2018 (F2018L01373)

Sch 1: 30 Nov 2019 (s 2(1) item 2)
Remainder: 29 Sept 2018 (s 2(1) items 1, 3)

Treasury Laws Amendment (Work Test Exemption) Regulations 2018

7 Dec 2018 (F2018L01682)

Sch 1 (items 5–8): 1 Jan 2019 (s 2(1) item 2)

Treasury Laws Amendment (AFCA Cooperation) Regulations 2019

5 Apr 2019 (F2019L00537)

Sch 1 (items 12–14): 6 Apr 2019 (s 2(1) item 1)

Treasury Laws Amendment (Protecting Your Superannuation Package) Regulations 2019

5 Apr 2019 (F2019L00539)

Sch 1 (items 30, 31, 34): 6 Apr 2019 (s 2(1) item 1)

Treasury Laws Amendment (Deferring Extension of SuperStream to Self Managed Superannuation Funds) Regulations 2019

9 Aug 2019 (F2019L01042)

10 Aug 2019 (s 2(1) item 1)

Superannuation (Unclaimed Money and Lost Members) and Other Laws (Repeal and Consequential Amendments) Regulations 2019

16 Dec 2019 (F2019L01618)

Sch 1 (item 3): 17 Dec 2019 (s 2(1) item 1)

Treasury Laws Amendment (Miscellaneous Amendments) Regulations 2019

17 Dec 2019 (F2019L01641)

Sch 5 (items 9, 11): 18 Dec 2019 (s 2(1) item 7)

Treasury Laws Amendment (Release of Superannuation on Compassionate Grounds) Regulations 2020

16 Apr 2020 (F2020L00431)

Sch 1 (items 5–9): 17 Apr 2020 (s 2(1) item 1)

Treasury Laws Amendment (Release of Superannuation on Compassionate Grounds) Regulations (No. 2) 2020

30 Apr 2020 (F2020L00532)

Sch 1 (item 2): 1 May 2020 (s 2(1) item 1)

Superannuation Legislation Amendment (2020 Measures No. 1) Regulations 2020

29 May 2020 (F2020L00645)

Sch 1 (items 6–10): 30 May 2020 (s 2(1) item 1)

Treasury Laws Amendment (Release of Superannuation on Compassionate Grounds) Regulations (No. 3) 2020

3 Sept 2020 (F2020L01133)

Sch 1 (item 2): 4 Sept 2020 (s 2(1) item 1)

Financial Sector Reform (Hayne Royal Commission Response) (Regulation of Superannuation) Regulations 2020

11 Dec 2020 (F2020L01586)

Sch 1 (item 7): 1 Jan 2021 (s 2(1) item 2)

Treasury Laws Amendment (Miscellaneous and Technical Amendments) Regulations 2020

14 Dec 2020 (F2020L01610)

Sch 1 (items 66–69): 15 Dec 2020 (s 2(1) item 2)

Treasury Laws Amendment (Income Tax Assessment Repeal and Consequential Amendments) Regulations 2021

4 Mar 2021 (F2021L00199)

Sch 1 (items 3–10): 1 Apr 2021 (s 2(1) item 1)

Treasury Laws Amendment (Reuniting More Superannuation) Regulations 2021

1 Apr 2021 (F2021L00412)

Sch 1 (items 24–57): 2 Apr 2021 (s 2(1) item 1)

Superannuation Legislation Amendment (Superannuation Drawdown) Regulations 2021

24 June 2021 (F2021L00833)

Sch 1 (items 5–8): 25 June 2021 (s 2(1) item 1)

Treasury Laws Amendment (Self Managed Superannuation Funds) Regulations 2021

25 June 2021 (F2021L00853)

1 July 2021 (s 2(1) item 1)

Superannuation Industry (Supervision) Amendment (Your Future, Your Super—Improving Accountability and Member Outcomes) Regulations 2021

5 Aug 2021 (F2021L01076)

6 Aug 2021 (s 2(1) items 1–3)

Treasury Laws Amendment (Your Future, Your Super—Addressing Underperformance in Superannuation) Regulations 2021

5 Aug 2021 (F2021L01077)

6 Aug 2021 (s 2(1) item 1)

Federal Circuit and Family Court of Australia Legislation (Consequential Amendments and Other Measures) Regulations 2021

30 Aug 2021 (F2021L01204)

Sch 2 (item 104): 1 Sept 2021 (s 2(1) item 1)

Treasury Laws Amendment (KiwiSaver Scheme) Regulations 2021

26 Nov 2021 (F2021L01616)

Sch 1 (items 4–7): 11 Dec 2021 (s 2(1) item 2)

Treasury Laws Amendment (Greater Transparency of Proxy Advice) Regulations 2021

17 Dec 2021 (F2021L01801)

Sch 1 (items 6–8): 18 Dec 2021 (s 2(1) item 1)
Note: disallowed by the Senate at 11.59 am on 10 Feb 2022

Superannuation Legislation Amendment (Western Australia De Facto Superannuation Splitting) Regulations 2021

23 Dec 2021 (F2021L01893)

Sch 1 (items 174–196): 28 Sept 2022 (s 2(1) item 1)

Treasury Laws Amendment (Enhancing Superannuation Outcomes) Regulations 2022

3 Mar 2022 (F2022L00241)

Sch 1 (items 12–26): 1 Apr 2022 (s 2(1) item 1)

Superannuation Legislation Amendment (Superannuation Drawdown) Regulations 2022

1 Apr 2022 (F2022L00498)

Sch 1 (items 5–8): 2 Apr 2022 (s 2(1) item 1)

Treasury Laws Amendment (Allowing Commutation of Certain Income Streams) Regulations 2022

4 Apr 2022 (F2022L00511)

Sch 1 (items 6–20): 5 Apr 2022 (s 2(1) item 1)

Superannuation Industry (Supervision) Amendment (Your Future, Your Super—Addressing Underperformance in Superannuation) Regulations 2022

8 Aug 2022 (F2022L01046)

9 Aug 2022 (s 2(1) item 1)

Superannuation Industry (Supervision) Amendment (Annual Members’ Meetings Notices) Regulations 2022

2 Sept 2022 (F2022L01162)

9 Sept 2022 (s 2(1) item 1)
Note: disallowed by the Senate at 11.32 am on 9 Feb 2023

Superannuation Legislation Amendment (Broadening Contribution Rules) Regulations 2022

30 Sept 2022 (F2022L01286)

Sch 1 (items 5–8): 1 Jan 2023 (s 2(1) item 1)

Treasury Laws Amendment (Miscellaneous and Technical Amendments) Regulations 2022

12 Dec 2022 (F2022L01627)

Sch 1 (item 4): 13 Dec 2022 (s 2(1) item 2)

Treasury Laws Amendment (Military Superannuation Benefits) Regulations 2023

23 June 2023 (F2023L00846)

Sch 1 (items 4, 6): 24 June 2023 (s 2(1) item 1)

Treasury Laws Amendment (Financial Reporting and Auditing of Registrable Superannuation Entities) Regulations 2023

7 July 2023 (F2023L00990)

Sch 1 (items 30–40): 8 July 2023 (s 2(1) item 1)

Superannuation Industry (Supervision) Amendment (Your Future, Your Super—Addressing Underperformance in Superannuation) Regulations 2023

3 Aug 2023 (F2023L01063)

Sch 1: 4 Aug 2023 (s 2(1) item 1)

Treasury Laws Amendment (Modernising Business Communications) Regulations 2023

27 Oct 2023 (F2023L01423)

Sch 4: 28 Oct 2023 (s 2(1) item 5)

Treasury Laws Amendment (ALRC Financial Services Interim Report) Regulations 2023

31 Oct 2023 (F2023L01458)

Sch 2 (items 44–48): 1 Nov 2023 (s 2(1) item 1

 

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 (s 2(1))

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)

Coronavirus Economic Response Package Omnibus Act 2020

22, 2020

24 Mar 2020

Sch 10 (items 5–8) and Sch 13 (items 8–12): 25 Mar 2020 (s 2(1) items 6, 8)

 

Endnote 4—Amendment history

 

Provision affected

How affected

Part 1

 

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

rs. 1998 No. 312

r 1.02...................

rep LA s 48D

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

am No 189, 1994; No 64, 1995; No 159, 1995; No 384, 1995; No 344, 1996; No 117, 1997; No 293, 1997; No 309, 1997; No 83, 1998; No 193, 1998; No 312, 1998; No 14, 1999; No 239, 1999; No 280, 2000; No 353, 2001; No 150, 2002; No 353, 2002; No 251, 2003; No 12, 2004; No 148, 2004; No 153, 2004; No 249, 2004; No 218, 2005; No 334, 2005; No 74, 2007; No 343, 2007; No 171, 2008; No 71, 2009; No 330, 2012; No 86, 2013; No 155, 2013; No 127, 2014; No 91, 2015; F2017L00321; F2017L00704; F2018L00515; F2019L00537; F2019L01641; F2021L01893; F2022L01162 (disallowed); F2023L01458

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

ad. 1995 No. 64

 

am No 159, 1995; No 117, 1997; No 14, 1999; No 239, 1999; No 317, 1999; No 200, 2002; No 74, 2007; No 316, 2012; F2016L00156; F2019L01618

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 No 432, 1994; No 240, 1995; No 430, 1995; No 122, 1996; No 344, 1996; No 117, 1997; No 83, 1998; No 193, 1998; No 239, 1999; No 185, 2000; No 280, 2000; No 352, 2001; No 74, 2007; No 343, 2007; No 146, 2011; No 330, 2012; No 155, 2013; F2016L00710; F2021L01077; F2021L01893

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

rep F2020L01586

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. 1.05A..................

ad. 2009 No. 106

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

ad No 189, 1994

 

am No 309, 1997; No 193, 1998; No 312, 1998; No 150, 2002; No 171, 2003; No 148, 2004; No 249, 2004; No 404, 2004; No 332, 2005; No 333, 2005; No 74, 2007; No 105, 2007; No 204, 2007; No 282, 2008; No 106, 2009; No 4, 2010; No 278, 2013; No 156, 2015; F2017L00321; F2017L00704; F2022L00511

 

ed C135

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

ad No 189, 1994

 

am No 309, 1997; No 193, 1998; No 312, 1998; No 239, 1999; No 353, 2001; No 150, 2002; No 353, 2002; No 171, 2003; No 148, 2004; No 249, 2004; No 404, 2004; No 333, 2005; No 74, 2007; No 105, 2007; No 204, 2007; No 282, 2008; No 106, 2009; No 278, 2013; No 156, 2015

 

ed C102

 

am F2017L00321; F2017L00704; F2022L00511

 

ed C135

r 1.06A..................

ad F2017L00704

r 1.06B..................

ad F2017L00704

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

ad. 1994 No. 189

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

ad No 171, 2003

 

am No 404, 2004; No 333, 2005; No 74, 2007; No 105, 2007; No 106, 2009; F2017L00321

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

ad. 2003 No. 171

 

am. 2007 No. 74; 2010 No. 4; F2022L00511

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

ad No 148, 2004

 

am No 404, 2004; No 74, 2007; No 106, 2009; No 4, 2010; F2017L00321; F2022L00511

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

ad No 74, 2007

 

am No 106, 2009; F2017L00321

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; F2022L00511

Part 2

 

Part 2 heading.............

rs. 2002 No. 21

Division 2.1

 

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

am No 117, 1997; No 309, 1997; No 193, 1998; No 115, 1999; No 239, 1999; No 21, 2002; F2021L01076

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

am No 189, 1994; No 21, 2002; F2021L01076

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

am No 14, 1999; No 21, 2002; No 171, 2002; F2021L01076

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

r 2.06, 2.07...............

rep. 2002 No. 21

Division 2.2

 

Division 2.2...............

rep No 21, 2002

 

ad F2021L01076

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

rs No 159, 1995

 

am No 177, 1997; No 83, 1998

 

rep No 21, 2002

 

ad F2021L01076

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

am No 159, 1995

 

rep No 21, 2002

 

ad F2021L01076

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

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

 

rep No 21, 2002

 

ad F2021L01076

 

am F2022L01162 (disallowed); F2023L00990

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

am No 159, 1995; No 239, 1999

 

rep No 21, 2002

 

ad F2021L01076

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

ad. 1995 No. 159

 

am. 1997 No. 117; 1999 No. 14

 

rep. 2002 No. 21

Division 2.3...............

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 No 21, 2002; No 171, 2002

 

rep F2023L00990

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

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

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

am. 1998 No. 193

 

rep. 2002 No. 21

r 2.20, 2.21...............

rep. 2002 No. 21

Subdivision 2.4.2...........

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

r 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

 

Subdivision 2.4.3 heading......

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

 

Division 2.5...............

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

r 2.33...................

am No 158, 1995

 

rep No 21, 2002

 

ad No 171, 2002

 

am No 155, 2013; F2023L00990

r 2.34, 2.35...............

rep. 2002 No. 21

r. 2.36...................

am. 1995 No. 158; 1997 No. 117; 1998 No. 193; 1999 Nos. 14 and 239

 

rep. 2002 No. 21

r. 2.36A..................

ad. 1995 No. 159

 

am. 1997 No. 117; 1999 No. 14

 

rep. 2002 No. 21

Division 2.5A

 

Division 2.5A..............

ad. 2001 No. 353

r. 2.36B..................

ad. 2001 No. 353

r 2.36C..................

ad. 2001 No. 353

 

am No 353, 2002; F2018L00515; F2021L01893

r. 2.36D..................

ad. 2001 No. 353

 

am. 2002 No. 353

r. 2.36E..................

ad. 2002 No. 353

 

am. 2004 No. 153

Division 2.6 heading.........

ed C143

Division 2.6...............

rep No 21, 2002

 

ad No 155, 2013

r 2.37...................

rep No 21, 2002

 

ad No 155, 2013

 

ed C102

 

rep F2023L00990

r 2.38...................

rep No 21, 2002

 

ad No 155, 2013

 

am F2021L01077; F2021L01801 (disallowed)

 

rep F2023L00990

r 2.39...................

rep No 21, 2002

r 2.40...................

am No 117, 1997

 

rep No 21, 2002

r 2.41...................

am No 83, 1998; No 239, 1999

 

rep No 21, 2002

Division 2.6A heading........

am. 1998 No. 83

 

rep. 2002 No. 21

Division 2.6A..............

ad. 1997 No. 117

 

rep. 2002 No. 21

r. 2.41A..................

am. 1998 No. 83

 

rep. 2002 No. 21

r. 2.41B..................

rs. 1998 No. 83

 

rep. 2002 No. 21

Division 2.7...............

rep. 2002 No. 21

r. 2.42...................

am. 1995 Nos. 64 and 159

 

rep. 2002 No. 21

r. 2.43...................

am. 1995 No. 158

 

rep. 2002 No. 21

r. 2.44...................

rep. 2002 No. 21

r. 2.45...................

am. 1997 No. 117

 

rep. 2002 No. 21

r. 2.46...................

am. 1995 No. 158; 1997 No. 117; 1999 No. 239

 

rep. 2002 No. 21

r. 2.47...................

am. 1997 No. 309; 1999 No. 239

 

rep. 2002 No. 21

r. 2.48...................

am. 1997 No. 117; 1999 No. 14

 

rep. 2002 No. 21

r. 2.48A..................

ad. 1995 No. 64

 

am. 1997 No. 309

 

rep. 2002 No. 21

Division 2.7A..............

ad. 1995 No. 64

 

rep. 2002 No. 21

r 2.48B, 2.48C.............

ad. 1995 No. 64

 

rep. 2002 No. 21

Division 2.8...............

rep. 2002 No. 21

r 2.49–2.54...............

rep. 2002 No. 21

r. 2.55...................

am. 1998 No. 193

 

rep. 2002 No. 21

r 2.56–2.63...............

rep. 2002 No. 21

r. 2.64...................

am. 1998 No. 193

 

rep. 2002 No. 21

r 2.65–2.67...............

rep. 2002 No. 21

Part 3

 

r. 3.01...................

rs. 1994 No. 432

 

am. 1995 No. 430

 

rs. 1997 No. 293

 

am. 2001 No. 353; 2002 Nos. 150 and 353; 2004 No. 153; 2005 No. 334

r. 3.02...................

am. 1997 No. 69

 

rep. 2004 No. 113

r. 3.03...................

am. Act No. 169, 1995; No. 113, 2004

 

rep. 2004 No. 113

r. 3.04A..................

ad. 1994 No. 432

r 3.05...................

am F2021L00853

r. 3.09A..................

ad. 1995 No. 159

 

rs. 1999 No. 14

 

rep. 2002 No. 21

r. 3.09B..................

ad. 1995 No. 159

 

rep. 2002 No. 21

r. 3.10...................

am. 1994 No. 189; 1995 No. 158; 1998 No. 193; 2002 No. 21

r. 3.10A..................

ad. 1999 No. 14

 

rep. 2002 No. 21

r. 3.11...................

rs. 2002 No. 21

r. 3.12...................

am. 1999 No. 115

 

rep. 2002 No. 21

r. 3.13...................

ad. 1995 No. 159

 

rep. 2002 No. 21

Part 3A

 

Part 3A..................

ad. 2004 No. 113

Division 3A.1

 

r 3A.01..................

ad No 113, 2004

 

am F2021L00853

r 3A.02..................

ad No 113, 2004

 

am F2021L00853

r. 3A.03..................

ad. 2004 No. 113

 

am No. 335, 2005; No 155, 2013

r. 3A.03A................

ad. 2005 No. 335

Division 3A.2..............

rep. No. 155, 2013

r. 3A.04..................

ad. 2004 No. 113

 

am. 2005 No. 335

 

rep. No. 155, 2013

Division 3A.3

 

Division 3A.3..............

ad No 154, 2004

r 3A.05..................

ad No 154, 2004

 

am No 335, 2005; F2023L01423

r 3A.06..................

ad No 154, 2004

 

am F2023L01423

Division 3A.4..............

ad. 2008 No. 171

 

rep No 91, 2015

r. 3A.07..................

ad. 2008 No. 171

 

rep No 91, 2015

Part 3B

 

Part 3B..................

ad No 317, 2012

r 3B.01..................

ad No 317, 2012

 

am F2018L01373

r 3B.02..................

ad No 317, 2012

 

rs F2018L01373

r 3B.03..................

ad No. 317, 2012

 

am F2018L01373

Part 4

 

Division 4.1

 

r 4.01A..................

ad F2021L01077

r. 4.01...................

am. 2002 No. 21

 

rs. No. 155, 2013

r 4.02...................

am No. 146, 2011

 

rs No. 155, 2013

r 4.02A..................

ad No 155, 2013

 

am F2021L00853

r 4.02AA.................

ad No 155, 2013

 

am F2021L00853

r 4.03...................

am No 189, 1994; No 239, 1999; F2021L00853

r. 4.04...................

am. 1994 No. 189; 1999 No. 239

r. 4.05...................

am. 1994 No. 189; 1999 No. 239

Division 4.1A..............

ad. 2004 No. 113

 

rep. No. 155, 2013

r. 4.07A..................

ad. 2004 No. 113

 

rep. No. 155, 2013

r. 4.07B..................

ad. 2004 No. 113

 

rep. No. 155, 2013

Division 4.2

 

r 4.07C..................

ad No 26, 2013

 

am F2017L00321

r. 4.07D..................

ad. No. 26, 2013

r. 4.07E..................

ad. No. 26, 2013

r. 4.08...................

am. 1998 No. 83

r 4.08A..................

ad No 37, 2001

 

am F2021L00853

r. 4.09...................

am. 1994 No. 189; 1995 No. 384; 2012 No. 183; No. 155, 2013

r. 4.09A..................

ad. 2012 No. 183

r. 4.10...................

am. 1998 No. 193; 1999 No. 239

r. 4.10A..................

ad. 2004 No. 113

 

am. 2004 No. 113

r. 4.11...................

am. 1998 No. 193

r. 4.11A..................

ad. 2004 No. 113

 

am. 2004 No. 113

r. 4.12...................

ad. 1995 No. 142

 

am. 1997 No. 117; 1998 No. 193; 1999 Nos. 14 and 239

r. 4.13...................

ad. 1995 No. 158

 

am. 2001 No. 353

r. 4.14...................

ad. 2004 No. 113

 

rep. No. 155, 2013

r. 4.15...................

ad. 2004 No. 113

 

rep. No. 155, 2013

r. 4.16...................

ad. 2004 No. 113

 

rep. No. 155, 2013

r. 4.17...................

ad. 2004 No. 113

 

rep. No. 155, 2013

Part 4A..................

ad. 2002 No. 150

 

rep. 2004 No. 148

r 4A.01–4A.04.............

ad. 2002 No. 150

 

rep. 2004 No. 148

r. 4A.05..................

ad. 2002 No. 150

 

am. 2002 No. 353

 

rep. 2004 No. 148

r. 4A.06..................

ad. 2002 No. 150

 

rep. 2004 No. 148

r. 4A.07..................

ad. 2002 No. 150

 

rep. 2004 No. 148

Part 5

 

Part 5 heading.............

rs. 1995 No. 64

Division 5.1

 

r. 5.01...................

am. 1994 No. 57; 1995 Nos. 159 and 384; 1997 Nos. 117 and 309; 1998 Nos. 83 and 193; 1999 No. 14; 2002 No. 200; 2004 Nos. 12 and 152; 2005 No. 218; 2007 No.74; 2008 No. 282

r. 5.01A..................

ad. 1994 No. 189

 

am. 1997 No. 309

r 5.01B..................

ad No. 64, 1995

 

am No. 86, 2013

r. 5.02...................

am. 1995 Nos. 47 and 64; 2001 No. 353; No. 86, 2013

r. 5.02A..................

ad. 1995 No. 159

 

rep. No. 86, 2013

r. 5.02B..................

ad. 1997 No. 309

r. 5.02C..................

ad. 1997 No. 309

r. 5.03...................

am. 1994 No. 189; 1995 No. 64; 1998 No. 175; No. 86, 2013

Division 5.2

 

r 5.04...................

am No 353, 2001; No 12, 2004; No 84, 2004; No 105, 2007; F2021L00199

r. 5.06...................

am. 1997 No. 117; 2005 No. 334

r. 5.06A..................

ad. 1997 No. 117

r. 5.06B..................

ad. 2001 No. 353

Division 5.3

 

r. 5.08...................

am. 2004 No. 84; 2005 No. 334; 2011 No. 146

Division 5.4...............

ad. 1995 No. 47

 

rep. 1999 No. 14

r. 5.09...................

ad. 1995 No. 47

 

am. 1995 No. 159

 

rep. 1999 No. 14

r. 5.10...................

ad. 1995 No. 47

 

rep. 1999 No. 14

r. 5.11...................

ad. 1995 No. 64

 

rep. 1999 No. 14

Division 5.5...............

ad. 1995 No. 64

 

rep No 86, 2013

r. 5.12...................

ad. 1995 No. 64

 

am. 2002 No. 21

 

rep. No. 86, 2013

r. 5.13...................

ad. 1995 No. 64

 

rs. 1995 No. 159

 

rep. No. 86, 2013

r. 5.14...................

ad. 1995 No. 64

 

am. 1995 Nos. 159 and 384

 

rep. No. 86, 2013

r. 5.15...................

ad. 1995 No. 64

 

am. 2002 No. 21

 

rep. No. 86, 2013

r. 5.15A..................

ad. 1995 No. 159

 

rep. 2002 No. 200

r. 5.15B..................

ad. 1995 No. 159

 

rep. No. 86, 2013

r. 5.15C..................

ad. 1995 No. 384

 

rep. No. 86, 2013

r. 5.15D..................

ad. 1995 No. 384

 

rep. No. 86, 2013

r. 5.16...................

ad. 1995 No. 64

 

am. 1999 No. 115

 

rep. No. 86, 2013

r. 5.17...................

ad. 1995 No. 64

 

am. 1995 Nos. 159 and 384; 1997 No. 117; 1998 No. 193; 1999 No. 317; 2002 Nos. 21 and 200

 

rep. No. 86, 2013

r. 5.18...................

ad. 1995 No. 64

 

am. 1995 No. 159

 

rep. No. 86, 2013

Division 5.6...............

ad. 1995 No. 159

 

rep. No. 86, 2013

r. 5.19...................

ad. 1995 No. 159

 

rep. No. 86, 2013

r. 5.20...................

ad. 1995 No. 159

 

rep. No. 86, 2013

r. 5.21...................

ad. 1995 No. 159

 

am. 2002 No. 21

 

rep. No. 86, 2013

r. 5.22...................

ad. 1995 No. 159

 

am. 2002 No. 200

 

rep. No. 86, 2013

r. 5.23...................

ad. 1995 No. 159

 

rep. No. 86, 2013

r. 5.24...................

ad. 1995 No. 159

 

rep. No. 86, 2013

Part 6

 

Division 6.1

 

Subdivision 6.1.1

 

r 6.01...................

am No 189, 1994; No 64, 1995; No 57, 1996; No 344, 1996; No 117, 1997; No 152, 1997; No 293, 1997; No 343, 1997; No 83, 1998; No 175, 1998; No 177, 1998; No 91, 2002; No 200, 2002; No 42,2003; No 56, 2005; No 334, 2005; No 74, 2007; No 9, 2008; No 282, 2008; No 15, 2009; No 187, 2010; No  26, 2013; No 278, 2013; No 79, 2015; F2017L00704; Act No 22, 2020; F2020L00431

 

ed C129

r 6.01AA.................

ad No 278, 2013

 

am No 79, 2015; F2017L00321

r 6.01AB.................

ad No 278, 2013

 

am No 79, 2015; F2017L00321

r 6.01A..................

ad No 9, 2008

 

am No 110, 2015; F2021L00199

r 6.01B..................

ad No 282, 2008

 

am No 15, 2009; No 203, 2012; No 278, 2013; No 79, 2015

 

ed C102

 

am F2017L00321; F2020L00431

Subdivision 6.1.2

 

r. 6.02...................

am. 1995 No. 159; 1997 Nos. 117, 152 and 153

 

rs. 1998 No. 175

r. 6.03...................

am. 1998 No. 175

r. 6.04...................

am. 1996 Nos. 57 and 344

 

rep. 1998 No. 175

r. 6.04A..................

ad. 1997 No. 117

 

rep. 1998 No. 175

r. 6.06...................

am. 1994 No. 189; 1998 No. 175

Subdivision 6.1.3

 

r. 6.07...................

am. 1997 No. 117

 

rs. 1998 No. 175

 

am. 1999 No. 14

r. 6.08...................

am. 1994 No. 189; 1997 No. 117

 

rs. 1998 No. 175

 

am. 1999 No. 14; 2007 No. 74

r. 6.09...................

am. 1996 Nos. 57 and 344; 1997 No. 117

 

rs. 1998 No. 175

r. 6.09A..................

ad. 1997 No. 117

 

rep. 1998 No. 175

Subdivision 6.1.4

 

r. 6.10...................

am. 1994 No. 189; 1997 Nos. 117 and 293; 1998 No. 175; 2004 No. 148; 2007 No. 74

r. 6.11...................

am. 1994 No. 189; 1997 Nos. 117 and 293; 1998 No. 175; 2004 No. 148; 2007 No. 74

r. 6.13...................

rs. 1994 No. 189

Subdivision 6.1.5

 

r. 6.14...................

am. 1998 No. 175

r. 6.15...................

rs. 2005 No. 334

r. 6.15A..................

ad. 1998 No. 83

 

am. 2000 No. 281; 2005 No. 333; 2007 No. 204

r. 6.16...................

am. 1997 No. 117; 1998 Nos. 83 and 175

r. 6.16A..................

ad. 1998 No. 175

Division 6.2

 

r. 6.17...................

am. 1995 No. 159; 2001 No. 353; 2002 No. 21; 2003 No. 251; 2004 No. 153; 2005 Nos. 332 and 334; 2011 No. 146

r. 6.17A..................

ad. 1999 No. 115

 

am. 2001 No. 353; 2004 No. 153

r 6.17AA.................

ad No 353, 2002

 

am F2021L01893

r. 6.17B..................

ad. 1999 No. 115

r. 6.17C..................

ad. 2007 No. 74

r 6.17D..................

ad Act No 22, 2020

Division 6.3

 

Subdivision 6.3.1

 

r 6.18...................

am No 175, 1998; No 74, 2007; No 282, 2008

r 6.19...................

am No 175, 1998; No 74, 2007; No 282, 2008

r 6.19A..................

ad 1997 No 152

 

am 1997 No 309; 1998 No 193; 1999 No 239; F2018L00676

r 6.19B..................

ad Act No 22, 2020

 

am F2020L00431; F2020L00532; F2020L01133; F2020L01610

r. 6.20...................

am. 1994 No. 189; 2007 No. 74

r 6.20A..................

ad No 91, 2002

 

am No 42, 2003; No 251, 2003; No 74, 2007; No 282, 2008; No 15, 2009; F2017L00321

r 6.20B..................

ad No 91, 2002

 

am No 42, 2003; No 251, 2003; No 74, 2007; No 282, 2008; No 15, 2009; F2017L00321

r 6.20C..................

ad No 282, 2008

 

am No 15, 2009; F2021L00412

r 6.21...................

am No 189, 1994; No 117, 1997; No 83, 1998; No 175, 1998; No 14, 1999; No 150, 2002; No 148, 2004; No 349, 2004; No 74, 2007; F2017L00321; F2023L00846

r 6.22...................

am No 189, 1994; No 117, 1997; No 353, 2001; No 74, 2007; No 282, 2008; No 15, 2009; No 146, 2011; No 203, 2012; No 278, 2013; F2017L00321

r. 6.22A..................

ad. 1994 No. 189

r. 6.22B..................

ad. 1997 No. 117

 

am. 1998 No. 193; 1999 No. 239

Subdivision 6.3.2

 

r. 6.23...................

am. 1998 No. 175; 2008 No. 282

r 6.24A..................

ad No 91, 2002

 

am No 42, 2003; No 74, 2007; No 282, 2008; No 15, 2009; F2017L00321

r 6.24B..................

ad No 282, 2008

 

am No 15, 2009; F2021L00412

r. 6.25...................

am. 1994 No. 189; 1997 No. 117; 1998 No. 83; 1999 No. 14; 2007 No. 74

r 6.26...................

am No 353, 2001; No 74, 2007; No 282, 2008; No 15, 2009; No 203, 2012; No 278, 2013; F2017L00321

r 6.27...................

rs No 74, 2007

 

am No 282, 2008; No 203, 2012; No 278, 2013; F2017L00321

r. 6.27A..................

ad. 1994 No. 189

Division 6.4

 

Division 6.4 heading.........

am 1995 No. 159

 

rs. 2003 No. 251

r. 6.27B..................

ad. 1997 No. 117

 

am. 1998 No. 193; 1999 No. 239

r. 6.28...................

rs. 1995 No. 142

 

am. 1997 No. 117; 1999 No. 14; 2002 No. 21; 2004 No. 113

r 6.29...................

rs No 142, 1995

 

am No 159, 1995; No 117, 1997; No 14, 1999; No 21, 2002; No 113, 2004; No 26, 2013; F2016L00710; F2021L00412

Division 6.4A..............

ad. 1995 No. 159

 

rep. 1999 No. 14

r 6.29A, 6.29B.............

ad. 1995 No. 159

 

rep. 1999 No. 14

Division 6.5

 

Division 6.5...............

rs. 2003 No. 251

r 6.30...................

am No 189, 1994; No 64, 1995

 

rs No 251, 2003

 

am No 153, 2004; No 142, 2005; No 14, 2013; F2018L01373

r. 6.31...................

ad. 2003 No. 251

 

am. 2007 No. 74; No. 14, 2013

r. 6.32...................

ad. 2003 No. 251

 

rs. No.