Superannuation Industry (Supervision) Regulations 1994
PART 7
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CONTRIBUTION AND BENEFIT ACCRUAL STANDARDS (REGULATED SUPERANNUATION FUNDS)
Division 7.2
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Contributions to be allocated to members
Subdivision 7.2.2
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Operating standards
REGULATION 7.08
CONTRIBUTIONS TO BE ALLOCATED TO MEMBERS
7.08(1)
This regulation applies to the trustee of a regulated superannuation fund if:
(a) the trustee receives a contribution in a month; and
(b) regulation 7.07H and subregulation 7.07G(4) do not apply to the trustee in relation to the contribution; and
(c) the trustee is not required to allocate the contribution in accordance with regulation 292-170.03 of the Income Tax Assessment Regulations 1997 . 7.08(2)
For subsection 31(1) of the Act, the trustee must allocate the contribution to a member of the fund:
(a) not later than 28 days after the end of the month; or
(b) if it is not reasonably practicable to allocate the contribution to the member of the fund not later than 28 days after the end of the month - within such longer period as is reasonable in the circumstances.
View history note
Hide history noteThis regulation applies to the trustee of a regulated superannuation fund if:
(a) the trustee receives a contribution in a month; and
(b) regulation 7.07H and subregulation 7.07G(4) do not apply to the trustee in relation to the contribution; and
(c) the trustee is not required to allocate the contribution in accordance with regulation 292-170.03 of the Income Tax Assessment Regulations 1997 . 7.08(2)
For subsection 31(1) of the Act, the trustee must allocate the contribution to a member of the fund:
(a) not later than 28 days after the end of the month; or
(b) if it is not reasonably practicable to allocate the contribution to the member of the fund not later than 28 days after the end of the month - within such longer period as is reasonable in the circumstances.
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