Income Tax Assessment (1997 Act) Regulations 2021

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-30 - SUPERANNUATION  

Division 307 - Key concepts relating to superannuation benefits  

Subdivision 307-D - Superannuation interests  

SECTION 307-230A.07   TOTAL SUPERANNUATION BALANCE VALUE - ALTERNATIVE VALUATION METHOD: WITHDRAWING CERTIFICATES  

Withdrawal by superannuation actuary

307-230A.07(1)    
A superannuation actuary must, at a particular time, withdraw a certificate issued under subsection 307-230A.06(1) in relation to superannuation interests in a defined benefit fund if:

(a)    the certificate is in force; and

(b)    the superannuation actuary, in the performance of the superannuation actuary ' s functions under the Act, this instrument, the SIS Act or the SIS Regulations, forms the opinion that the method specified in the certificate does not, at that time, meet the requirements of subsection 307-230A.06(3) of this instrument in relation to the interests.

307-230A.07(2)    
A withdrawal under subsection (1) of this section must be:

(a)    in writing; and

(b)    given to the trustee of the defined benefit fund.

Withdrawal by trustee

307-230A.07(3)    
A trustee of a defined benefit fund may withdraw a certificate issued under subsection 307-230A.06(1) in relation to superannuation interests in the fund at any time while the certificate is in force.

307-230A.07(4)    
A withdrawal under subsection (3) of this section must be in writing.