Superannuation Industry (Supervision) Regulations 1994

PART 12 - PRE-1 JULY 1988 FUNDING CREDITS AND DEBITS  

REGULATION 12.10   PRESCRIBED EVENTS FOR THE PURPOSES OF PARAGRAPH 342(4)(a) OF THE ACT  

12.10(1)   [Alteration of governing rules]  

For the purposes of paragraph 342(4)(a) of the Act, a prescribed event in relation to a superannuation fund is any alteration of the governing rules of the fund having the effect that calculation of a pre-1 July 88 funding amount under the rules as so altered produces an amount that is less than the amount calculated using the formula:

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12.10(2)   [Reference to PJFC]  

A reference in subregulation (1) to a PJFC is a reference to the amount of the PJFC multiplied by the indexation factor calculated in accordance with Subdivision 960-M of the Tax Act.




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