Superannuation Industry (Supervision) Regulations 1994

Reg 3.11 substituted for reg 3.10A, 3.11, 3.12 and 3.13 by SR No 21 of 2002, reg 3 and Sch 1 item 31, effective 11 March 2002. Reg 3.12 formerly read:

REGULATION 3.12 REQUIREMENTS CONCERNING APPLICATION MONEY HELD ON TRUST  
3.12
For the purposes of section 169 of the Act, the trustee of a public offer entity must:

(a) pay money referred to in the section into a trust account (that need not be interest bearing) in the name of the person on whose behalf the money was received; and

(b) retain the money in a trust account of that kind until:

(i) the relevant superannuation interest is issued to the person on whose behalf the money was received; or

(ii) the money is refunded to the person from whom the entity received the money.

Reg 3.12 amended by SR No 115 of 1999.