Superannuation Industry (Supervision) Amendment Regulations 2004 (No. 6) (153 of 2004)

Schedule 2   Amendments commencing on 1 July 2004

[2]   After subregulation 6.30 (3)

insert

(4) In this regulation:

allocated surplus amount , in relation to a member of a superannuation fund in relation to a financial year, means an amount that is allocated by the relevant superannuation provider for the benefit of the member in respect of the financial year (other than an amount paid for or by the member to the provider) to the extent to which the allocated amount exceeds an amount that, in the opinion of an eligible actuary according to Australian actuarial practice, is reasonable having regard to:

(a) the amounts paid by or for the member to the provider; and

(b) the fund's investment earnings relating to the member's interest in the fund; and

(c) any other relevant matters.