Superannuation Industry (Supervision) Regulations 1994
PART 4
-
MANAGEMENT AND TRUSTEESHIP OF SUPERANNUATION ENTITIES
Division 4.1
-
Prescribed matters
REGULATION 4.03
TRUSTEE OF EMPLOYER-SPONSORED FUND
-
PRESCRIBED DIRECTION BY EMPLOYER-SPONSOR OR ASSOCIATE OF EMPLOYER-SPONSOR
4.03(1)
[Circumstances in which directions may be given]
(a) where, after the implementation of the direction:
(b) where the direction would not require the trustee to contravene the Act (other than section 55 ) or these regulations; and
(c) where the direction qualifies under subregulation (2).
(a) the contributions of the employer-sponsor to the fund include contributions that are not mandated employer contributions (within the meaning of Part 5 ) and the direction relates solely to either or both of the following:
(b) whether or not paragraph (a) applies - the direction relates solely to one or more of the following:
[ CCH Note: Pt 4 is to have effect, in relation to regulated superannuation funds, and their trustees, as if it were modified by inserting reg 4.08A - see Modification Declaration No 10 under reg 4.08A .]
For the purposes of paragraph 58(2)(e) of the Act, the circumstances in which the governing rules of a superannuation entity (other than a superannuation fund with fewer than 5 members) may permit an employer-sponsor or an associate of an employer-sponsor to give a direction to the trustee of an employer-sponsored fund are:
(a) where, after the implementation of the direction:
(i) the fund (if a defined benefit fund) would not become technically insolvent within the meaning of subregulation 9.06(3) ; or
(ii) the fund (if an accumulation fund) would not become technically insolvent within the meaning of subregulation 9.35(3) ; and
(b) where the direction would not require the trustee to contravene the Act (other than section 55 ) or these regulations; and
(c) where the direction qualifies under subregulation (2).
4.03(2)
[Directions]
(a) the contributions of the employer-sponsor to the fund include contributions that are not mandated employer contributions (within the meaning of Part 5 ) and the direction relates solely to either or both of the following:
(i) those non-mandated employer contributions; or
(ii) benefits related to those non-mandated employer contributions; or
(b) whether or not paragraph (a) applies - the direction relates solely to one or more of the following:
(i) the admission of new members to the fund; or
(ii) the category of members into which a new member or existing member is to be placed; or
(iii) allowing a person to become an employer-sponsor of the fund; or
(iv) the termination of the fund; or
(v) the appointment of a trustee to an entity that does not have a trustee.
This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.