Superannuation Industry (Supervision) Regulations 1994

PART 9 - FINANCIAL MANAGEMENT OF FUNDS  

Division 9.3 - Funding and solvency of defined benefit funds  

REGULATION 9.17   9.17   TECHNICAL INSOLVENCY - OPERATING STANDARD  
The trustee of a defined benefit fund that is taken to be technically insolvent for the purposes of these regulations must either:


(a) initiate a program in accordance with this Division that is designed by a superannuation actuary to return the fund to a position that would enable the superannuation actuary to certify the solvency of the fund in a funding and solvency certificate in accordance with regulation 9.10 not later than 5 years after the date on which the technical insolvency commenced; or


(b) initiate winding-up proceedings in accordance with Division 9.4 .


 

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