Corporations Amendment Regulations 2002 (No. 3) (41 of 2002)

Schedule 1   Amendments commencing at 12.02 am (in the Australian Capital Territory) on 11 March 2002

[137]   Schedule 10A, items 6.1 and 6.2

substitute

6.1 After subsection 1016A (2)

insert

(2A) Subsection (2) does not apply in relation to a member who:

(a) held an interest in a superannuation fund as a standard employer-sponsored member; and

(b) is issued with an interest in relation to another sub-plan of the superannuation fund as a result of a transfer related to the cessation of the member's employment with the employer-sponsor.

6.2 After subsection 1016A (3)

insert

(3A) Subsection (3) does not apply in relation to a superannuation product if:

(a) the issuer is a public offer entity that is a successor fund; and

(b) an employer became a standard employer-sponsor of a fund in the following way:

(i) the employer was a standard employer-sponsor of a fund ( fund 1 );

(ii) the benefits of members in fund 1 were transferred to a successor fund;

(iii) the employer was a standard employer-sponsor of fund 1 immediately before those benefits were so transferred;

(iv) the employer was a standard employer-sponsor of the successor fund immediately after those benefits were so transferred.