Superannuation Legislation Amendment (MySuper Measures) Regulation 2013 (155 of 2013)

Schedule 1   Amendments relating to MySuper

Superannuation Industry (Supervision) Regulations 1994

103   After regulation 11.07A


11.08 Operating standard - disclosure of successor fund transfer

(1) For subsections 31(1) and 32(1) of the Act, it is a standard applicable to the operation of a superannuation entity, other than a pooled superannuation trust or a self managed superannuation fund, that the trustee must give notice in writing to the Regulator, in accordance with subregulation (2), of a decision to transfer a member’s benefits from the fund, without the member’s consent.

(2) Notice under subregulation (1) must be given:

(a) as soon as practicable after the making of the decision to transfer the member’s benefits from the fund; or

(b) if the fund is being wound up - before the winding up is commenced.