RSA Modification Declaration 2007/1

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COMMONWEALTH OF AUSTRALIA

Retirement Savings Account Acts 1997

I, Wayne Byres, a delegate of APRA, under section 177 of the Retirement Savings Account Act 1997 (the Act), DECLARE that Regulation 5.03 of the Regulations has effect in relation to the class of persons described in the attached Schedule as if it were modified in the manner specified in the attached Schedule.

Retirement Savings Account Act modification declaration No. 1 of 2007

The declaration comes into force upon registration on the Federal Register of Legislative Instruments.

Interpretation

In this Instrument

APRA means the Australian Prudential Regulation Authority.

Federal Register of Legislative Instruments means the register established under section 20 of the Legislative Instruments Act 2003.

Regulations means the Retirement Savings Account Regulations 1997.

Schedule - the class of persons to whom this declaration applies

RSA providers

Schedule - the manner in which the specified modifiable provision is modified

Subregulation 5.03(4) of the Regulations is modified by:

1.

replacing the word "and" at the end of subparagraph (a)(ii) with the word "or"

2.

inserting after subparagraph (a)(ii):

"(iii)

the amount was a government co-contribution payment in respect of a member contribution, where the member contribution was made prior to 1 July 2007; and"

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19 November 2007

Wayne Byres
Executive General Manager
Diversified Institutions Division

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Registration Number: F2007L04412

Registration Date: 20 November 2007

Explanatory Memorandum to RSA Modification Declaration 2007/1

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