Superannuation Industry (Supervision) Legislation Amendment Act 1995 (144 of 1995)

Schedule 4   AMENDMENTS OF THE SUPERANNUATION INDUSTRY (SUPERVISION) ACT 1993

31   Subsection 93(5)

Omit the subsection, substitute:

Transitional

"(5) If, at a particular time, the number of members of a fund increases:

(a) from a number less than 5 to 50 or more; or

(b) from a number greater than 4, but less than 50, to 50 or more (a paragraph (b) fund); then:

(c) the trustee of the fund must make such arrangements (if any) as are necessary to enable the fund to comply with this section; and

(d) the fund does not have to comply with this section during the period beginning at that time and ending:

(i) at the time at which such arrangements are made; or

(ii) 90 days after that time;

whichever is the earlier; and

(e) for a paragraph (b) fund-despite subsection 92(1), the fund must comply with subsection 92(3) or (4) during the period of time referred to in paragraph (d).".