Treasury Laws Amendment (Protecting Your Superannuation Package) Act 2019 (16 of 2019)

Schedule 1   Fees charged to superannuation members

Part 1   Amendments

Superannuation Industry (Supervision) Act 1993

15   After section 99B

Insert:

99BA No exit fees

(1) The trustee, or the trustees, of a regulated superannuation fund or an approved deposit fund must not charge exit fees, except in circumstances prescribed by the regulations.

(2) An exit fee is a fee, other than a buy-sell spread, that relates to the disposal of all or part of a member's interests in a superannuation entity.