ASIC Class Order [CO 10/630]

Long-term superannuation returns

This instrument has effect under s1020F(1)(c) of the Corporations Act 2001.

This compilation was prepared on 15 July 2013 taking into account amendments up to [CO 13/752]. See the table at the end of this class order.

Prepared by the Australian Securities and Investments Commission.

Australian Securities and Investments Commission
Corporations Act 2001 — Paragraph 1020F(1)(c) — Declaration

Enabling legislation

1. The Australian Securities and Investments Commission makes this instrument under paragraph 1020F(1)(c) of the Corporations Act 2001 (Act).

Title

2. This instrument is ASIC Class Order [CO 10/630].

Commencement

3. This instrument commences on the date it is registered under the Legislative Instruments Act 2003.

Note: An instrument is registered when it is recorded on the Federal Register of Legislative Instruments (FRLI) in electronic form: see Legislative Instruments Act 2003, s 4 (definition of register).  The FRLI may be accessed at http://www.frli.gov.au/.

Declaration

4. Part 7.9 of the Act applies in relation to all persons as if Part 7.9 of the Corporations Regulations 2001 (Regulations) were modified or varied as follows:

(a) after subregulation 7.9.20AA(1) insert:

"(1A) This regulation does not apply in any of the following circumstances:

(a)  the superannuation product is a non-investment or accumulation life insurance policy that is offered through the regulated superannuation fund;

(b)  the superannuation product has no investment component (also known as a risk-only superannuation product);

(c)  the statement is a periodic statement to be given to a member of the regulated superannuation fund for a reporting period mentioned in paragraph 1017D(2)(d) of the Act."

(b) in the subheading to subregulation 7.9.20AA(2), omit "2010", substitute "2011";

(c) in subregulation 7.9.20AA(2):

(i) omit "the periodic", substitute "a periodic"; and

(ii) omit "2010", substitute "2011";

(d) in the subheading to subregulation 7.9.20AA(8), omit "2010", substitute "2011";

(e) in subregulation 7.9.20AA(8) omit "2010", substitute "2011";

(f) omit subregulation 7.9.75BA(1), substitute:

"(1) For paragraph 1017DA(1)(a) of the Act, the trustee of a superannuation entity (other than a self managed superannuation fund) may provide information about:

(a)  a regulated superannuation fund mentioned in subdivision 5.6 of this Part; or

(b)  an approved deposit fund mentioned in subdivision 5.6 of this Part; or

(c)  a pooled superannuation trust mentioned in subdivision 5.7 of this Part;

to a holder by making it available on a website that is maintained by or on behalf of the trustee."

Application

5. This instrument has effect until the earlier of:

(a) the commencement of any amendments to regulations 7.9.20AA and 7.9.75BA of the Regulations that have the same or similar effect to the modifications or variations contained in this instrument; and

(b) 48 months after the commencement of this instrument.

Interpretation

6. In this instrument:

approved deposit fund has the meaning given by subsection 10(1) of the Superannuation Industry (Supervision) Act 1993.

pooled superannuation trust has the meaning given by subsection 10(1) of the Superannuation Industry (Supervision) Act 1993.

regulated superannuation fund has the meaning given by subsection 19(1) of the Superannuation Industry (Supervision) Act 1993.

self managed superannuation fund has the meaning given by section 17A of the Superannuation Industry (Supervision) Act 1993.

superannuation entity has the meaning given by subsection 10(1) of the Superannuation Industry (Supervision) Act 1993.

superannuation product means a superannuation interest as defined in subsection 10(1) of the Superannuation Industry (Supervision) Act 1993.

Notes to ASIC Class Order [CO 10/630]

Note 1

ASIC Class Order [CO 10/630] (in force under s1020F(1)(c) of the Corporations Act 2001) as shown in this compilation comprises that Class Order amended as indicated in the tables below.

Table of Instruments

Table of Amendments

ad. = added or inserted     am. = amended     rep. = repealed     rs. = repealed and substituted