Superannuation Industry (Supervision) Regulations 1994

PART 9 - FINANCIAL MANAGEMENT OF FUNDS  

Division 9.3 - Funding and solvency of defined benefit funds  

REGULATION 9.09   FUNDING AND SOLVENCY CERTIFICATES - OPERATING STANDARD  

9.09(1)   [Trustee to obtain actuary's certificate]  

The trustee of a defined benefit fund to which this Division applies must, in accordance with this Division, obtain from a superannuation actuary a funding and solvency certificate in relation to the fund.

9.09(1A)   [Regulator's power]  

The Regulator may direct the trustee of the fund, in writing, to obtain from a superannuation actuary a new or replacement funding and solvency certificate if the Regulator considers, on reasonable grounds, that to do so would be:


(a) in the prudential interests of the fund; and


(b) in the best interests of the members of the fund.

9.09(1B)   [Compliance with Regulator]  

The trustee of the fund must comply with a written direction under subregulation (1A).

9.09(2)   [Employer-sponsor to be provided with copy]  

The trustee of the fund must, as soon as practicable, give a copy of a certificate obtained under this regulation to each employer-sponsor who has contributed or is contributing to the fund.




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