Superannuation Industry (Supervision) Amendment Regulations 2009 (No. 1)
(15 of 2009)
Dated 5 February 2009
Superannuation Industry (Supervision) Act 1993
1 Name of Regulations
These Regulations are theSuperannuation Industry (Supervision) Amendment Regulations 2009 (No. 1).
2 Commencement
These Regulations commence as follows:
(a) on the day after they are registered - regulations 1 to 3 and Schedule 1;
(b) on 1 April 2009 - regulation 4 and Schedule 2.
3 Amendment of Superannuation Industry (Supervision) Regulations 1994 - Schedule 1
Schedule 1 amends theSuperannuation Industry (Supervision) Regulations 1994.
4 Amendment of Superannuation Industry (Supervision) Regulations 1994 - Schedule 2
Schedule 2 amends theSuperannuation Industry (Supervision) Regulations 1994, as amended by theSuperannuation Industry (Supervision) Amendment Regulations 2008 (No. 4).
Schedule 1 Amendments commencing on day after registration
[1] Subregulation 6.01 (2), definition of non-commutable allocated annuity, subparagraph (c) (ii)
omit
nil; or
insert
'Nil'; or
[2] Subregulation 6.01 (2), definition of non-commutable allocated pension, subparagraph (b) (ii)
omit
nil; or
insert
'Nil'; or
[3] Subparagraph 6.20A (1) (a) (iii)
substitute
(iii) has left Australia; and
[4] Paragraph 6.20A (2) (b)
omit
the member has departed from Australia
insert
the member has left Australia
[5] Paragraph 6.20A (3) (b)
substitute
(b) the member has left Australia.
[6] Subparagraph 6.20B (1) (a) (iii)
substitute
(iii) has left Australia; and
[7] Paragraph 6.20B (2) (b)
omit
the member has departed from Australia
insert
the member has left Australia
[8] Paragraph 6.20B (3) (b)
substitute
(b) the member has left Australia.
[9] Regulation 6.20C, heading
substitute
6.20C Cashing of benefits in a regulated superannuation fund - payment to Commissioner of Taxation
[10] Regulation 6.20C
omit
a member's superannuation interest
insert
a person's superannuation interest
[11] Regulation 6.20C
omit
a single lump sum
insert
a lump sum
[12] Subregulation 6.22 (5)
substitute
(5) The conditions of this subregulation are satisfied ifthe member's benefits are cashed in favour of the Commissioner of Taxation to pay an amount to the Commissioner of Taxation under theSuperannuation (Unclaimed Money and Lost Members) Act 1999.
[13] Subparagraph 6.24A (1) (a) (iii)
substitute
(iii) has left Australia; and
[14] Paragraph 6.24A (2) (b)
omit
the member has departed from Australia
insert
the member has left Australia
[15] Paragraph 6.24A (3) (b)
substitute
(b) the member has left Australia.
[16] Regulation 6.24B, heading
substitute
6.24B Cashing of benefits in approved deposit funds - payment to Commissioner of Taxation
[17] Regulation 6.24B
omit
a member's superannuation interest
insert
a person's superannuation interest
[18] Regulation 6.24B
omit
a single lump sum
insert
a lump sum
[19] Subregulation 6.26 (3)
substitute
(3) A member's benefits in an approved deposit fund may be cashed ifthe benefits are cashed in favour of the Commissioner of Taxation to pay an amount to the Commissioner of Taxation under theSuperannuation (Unclaimed Money and Lost Members) Act 1999.
[20] Subparagraph 13.16 (2) (b) (i)
omit
1999or the Tax Act
insert
1999, the Tax Act or the 1997 Tax Act
[21] Schedule 1, item 103B, column 2
omit
the member's superannuation interest
insert
the person's superannuation interest
[22] Schedule 1, item 103B, column 3
omit
the member's superannuation interest
insert
the person's superannuation interest
[23] Schedule 1, item 103B, column 3
omit
a single lump sum
insert
a lump sum
[24] Schedule 1, item 204A, column 2
omit
the member's superannuation interest
insert
the person's superannuation interest
[25] Schedule 1, item 204A, column 3
omit
the member's superannuation interest
insert
the person's superannuation interest
[26] Schedule 1, item 204A, column 3
omit
a single lump sum
insert
a lump sum
Schedule 2 Amendment commencing on 1 April 2009
[1] Subregulation 6.01B (3)
substitute
(3) The only conditions of release that can be satisfied in respect of a member to whom this regulation applies are:
(a) a condition of release that was satisfied by the member before 1 April 2009; and
(b) the conditions of release in items 102, 102A, 103, 103A, 103B, 109, 112, 202, 202A, 203, 204, 204A and 209 of Schedule 1.