Superannuation Industry (Supervision) Regulations 1994
(a) the fund fails to comply with regulations 9.17 , 9.18 or 9.19 during the period of technical insolvency; or
(b) the superannuation actuary is unable to certify the solvency of the fund at the end of that period;
and regulation 9.24 does not apply.
Winding-up proceedings initiated under subregulation (1) must be carried out in accordance with this Division.9.23(3) [Proceedings initiated under other conditions]
Subject to subregulation (4), if a trustee of a defined benefit fund to which this Division applies initiates winding-up proceedings in relation to the fund otherwise than under subregulation (1), the winding-up proceedings must be carried out in accordance with this Division.9.23(4) [Winding-up schemes by the Regulator]
This regulation does not apply to a defined benefit fund in respect of which the Regulator formulates a scheme for the winding-up of the fund.