Superannuation Industry (Supervision) Legislation Amendment Act 1995 (144 of 1995)

Schedule 4   AMENDMENTS OF THE SUPERANNUATION INDUSTRY (SUPERVISION) ACT 1993

19   Transitional provisions relating to Temporary Modification Declaration Nos. 4 and 17

(1) If:

(a) an approved trustee makes, under subsection 27A(2) of the Superannuation Industry (Supervision) Act 1993 as temporarily modified by Temporary Modification Declaration No. 4, an application for variation of the approval of the trustee; and

(b) that application meets the requirements of subsection 27A(3) of that Act as so temporarily modified; and

(c) that application is not decided before the temporary modification ceases to have effect in accordance with subsection 4(3) of this Act;

then, on and after the day next following the day on which that Declaration ceases to have effect:

(d) that application is taken to have been made under subsection 27A(1) of that Act as amended by this Act; and

(e) that application is taken to meet the requirements of subsection 27A(2) of that Act as so amended.

(2) If a variation of the approval of the trustee is made under section 27A of the Superannuation Industry (Supervision) Act 1993 as temporarily modified by Temporary Modification Declaration No. 4, that variation has effect, from the time that declaration ceases to have effect, as if it were a variation made under section 27B of that Act as amended by this Act.

(3) If a variation of an approval of a trustee is made under section 27B of the Superannuation Industry (Supervision) Act 1993 as temporarily modified by Temporary Modification Declaration No. 17, that variation has effect, from the time that declaration ceases to have effect, as if it were a variation made under section 27C of that Act as amended by this Act.

(4) An instrument of variation (however described) that is made:

(a) under section 27A of the Superannuation Industry (Supervision) Act 1993 as temporarily modified by Temporary Modification Declaration No. 4; or

(b) under section 27B of the Superannuation Industry (Supervision) Act 1993 as temporarily modified by Temporary Modification Declaration No. 17;

has effect, from the time when the declaration ceases to have effect, as if it were a notice under section 27D of that Act as amended by this Act.