Superannuation Legislation

What's New last updated: 21 Jan 09

Superannuation Industry (Supervision) Act 1993
Superannuation Industry (Supervision) Modification Declaration No. 1 of 2008 - the Declaration modifies subregulation 9.09(2) of the Superannuation Industry (Supervision) Regulations 1994 by omitting and substituting subregulation 9.09(2). APRA intends to provide relief to trustees of hybrid superannuation funds from the requirement to give a copy of the certificate to employer-sponsors who only contribute to the fund for accumulation members and who have no obligation to contribute for defined benefit members. An Explanatory Statement accompanies this instrument.
Relief to use ABN in disclosure documents
APRA has made Modification Declaration 4 of 2007 (MD 4) under the SIS Act to provide transitional relief to superannuation entities from the requirement to disclose their RSE licence and registration number under s. 29DC and s. 29MB of the SIS Act where the ABN of the licensee and fund is disclosed. An Explanatory Statement accompanies this instrument.
Provision of benefits approval
APRA has revoked the 1 July 1997 approval made by the ISC and enacted a revised SIS Approval of provisions of benefits No. 1 2007 for funds under APRA's jurisdiction effective 27 November 2007. An Explanatory Statement accompanies this instrument. The Approval concerns the provision of benefits under s. 62 of the SIS Act (i.e. the sole purpose test). This revocation and approval applies only to regulated superannuation funds under the trusteeship of Registrable Superannuation Entity (RSE) Licensees and has no application to the trustees of self managed superannuation funds regulated by the ATO.

Relief to allow co-contribution retention without TFNs

APRA has made Modification Declaration 3 of 2007 (MD 3) under the SIS Act and Modification Declaration 2 of 2007 (MD2) under the RSA Act to provide relief to superannuation entities and RSA institutions from the requirement to return government co-contributions within 30 days if a TFN has not been quoted to the superannuation entity or RSA institution. An Explanatory Statement (MD3 and MD2) covers each instrument. Refer to the ATO website for information on Changes to TFN requirements for co-contributions.

Superannuation Legislation

Superannuation Industry (Supervision) Act 1993

Superannuation Industry (Supervision) Regulations 1994

Retirement Savings Accounts Act 1997

Retirement Savings Accounts Regulations 1997

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Statutory Instruments	Instrument	Explanatory Statement
SIS Act - Modification Declaration No. 4 of 2007	Declaration	Statement
SIS Regulations - Modification Declaration No. 3 of 2007	Declaration	Statement
SIS Regulations - Modification Declaration No. 2 of 2007	Declaration	Statement
SIS Regulations - Modification Declaration No. 1 of 2007	Declaration	Statement
SIS Act - Approval of provision of benefits No. 1 of 2007	Approval	Statement
SIS Act - TFN Approval - 30 June 2007	Approval	Statement
SIS Act - Modification Declaration No. 3 of 2006	Declaration	Statement
SIS Act - Modification Declaration No. 2 of 2006	Declaration	Statement
SIS Act - Modification Declaration No. 1 of 2006	Declaration	Statement
SIS Act - Revocation of Modification Declarations	Declaration	Statement
SIS Act - Modification Declaration 26	Declaration	Statement
SIS Act - Modification Declaration 25	Declaration	Statement
SIS Act - Modification Declaration 24	Declaration	Statement
SIS Act - Modification Declaration 23 Amended	Declaration	Statement
RSA Act - Modification Declaration No. 2 of 2007 (Note: MD2 varied MD1)	Declaration	Statement
RSA Act - Modification Declaration No. 1 of 2007 (Note: MD2 varied MD1)	Declaration	Statement
RSA Act - TFN Approval - 30 June 2007	Approval	Statement
RSA Act - Modification Declaration No. 1 of 2006	Declaration	Statement
RSA Act - Modification Declaration 1 (2005)	Declaration	Statement
SIS Act - Determination No. 1 of 2006 (approved guarantee for custodians)	Determination	Statement
SIS Act - Determination of requirements for an Approved Guarantee (Feb 2005)	Determination	Statement
SIS Regulations - Determination (Form of Non-written consent for rolling over or transferring benefits)	Determination	Statement
RSA Regulations – Determination (Form of Non-written consent for rolling over or transferring benefits)	Determination	Statement

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