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

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

33   Transitional provisions relating to Modification Declaration No. 1

If, before Modification Declaration No. 1 ceases to have effect in accordance with section 3, the Commissioner has given to the trustee of a regulated superannuation fund:

(a) written notice under subparagraph 93A(1)(a)(ii) of the Superannuation Industry (Supervision) Act 1993 as modified by that declaration specifying a higher allowable percentage of the members of the fund; or

(b) written notice under subparagraph 93A(1)(b)(ii) of the Superannuation Industry (Supervision) Act 1993 as so modified specifying a higher allowable percentage of the value of the assets of the fund; or

(c) written notice under subsection 93A(2) of the Superannuation Industry (Supervision) Act 1993 as so modified making the specification of the allowable percentage referred to in paragraph (a) or (b) subject to a limited duration or to other conditions specified in the notice;

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

(d) the notice referred to in paragraph (a) is taken to have been made under subsection 93A(2) of that Act as amended by this Act; and

(e) the notice referred to in paragraph (b) is taken to have been made under subsection 93A(3) of that Act as so amended; and

(f) the specification of the duration of a notice under paragraph (a) or (b), or of any other conditions to which such a notice is subject, is taken to be a specification under subsection 93A(4) of that Act as so amended for the purposes of a notice under subsection 93A(2) or (3) of that Act as so amended, as the case requires.