Superannuation Industry (Supervision) Act 1993

PART 5 - NOTICES ABOUT COMPLYING FUND STATUS  

Division 2 - The Regulator may give notices about complying fund status  

SECTION 40   NOTICES BY THE REGULATOR TO TRUSTEE  

40(1)   Notice about complying fund status.  

The Regulator may give a written notice to a trustee of an entity stating:


(a) whether the entity is or is not a complying superannuation fund; or


(b) whether the entity is or is not a complying approved deposit fund; or


(c) whether the entity is or is not a pooled superannuation trust;

as the case may be, in relation to a year of income specified in the notice.

40(2)   Reasons.  

If the Regulator gives a notice to a trustee of an entity stating that:


(a) the entity is not a complying superannuation fund; or


(b) the entity is not a complying approved deposit fund; or


(c) the entity is not a pooled superannuation trust;

as the case may be, in relation to a year of income, the notice must set out the reasons why the Regulator so stated.

40(3)   Commissioner of Taxation to be told about notice.  

When the APRA gives a notice under this section, APRA must give particulars of the notice to the Commissioner of Taxation.

Note:

A statement of the tax file number of the entity may accompany the particulars of the notice. See subsection 299U(3) .

40(4)   Revocation.  

If:


(a) the Regulator gives a notice under this section (the original notice ) to a trustee of an entity stating that:


(i) the entity is a complying superannuation fund; or

(ii) the entity is a complying approved deposit fund; or

(iii) the entity is a pooled superannuation trust;
as the case may be, in relation to a year of income; and


(b) the Regulator subsequently gives a notice under this section (the second notice ) to a trustee of the entity stating that:


(i) the entity is not a complying superannuation fund; or

(ii) the entity is not a complying approved deposit fund; or

(iii) the entity is not a pooled superannuation trust;
as the case may be, in relation to the year of income;

the second notice is taken to revoke the original notice.

Note:

Because " the Regulator " is whichever of APRA or the Commissioner of Taxation is administering this provision in respect of a fund, a notice could initially be given to a fund by APRA under paragraph 40(4)(a) , and later the Commissioner of Taxation could give a notice to the same fund under paragraph 40(4)(b) . This is because the fund could have become a self managed superannuation fund after the first notice was given.


 

Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited

CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.

The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.