{"id":"F2007L04412","name":"Retirement Savings Account modification declaration No. 1 of 2007","slug":"retirement-savings-account-modification-declaration-no-1-of-2007","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":70763,"registerId":"commonwealth-F2007L04412-current","compilationNumber":null,"startDate":"2026-04-02","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Retirement Savings Account modification declaration No. 1 of 2007","content":"![](image.001.png)\n\nRetirement Savings Account modification declaration No. 1 of 2007\n\nas amended\n\nmade under section 177 of the\n\nRetirement Savings Accounts Act 1997\n\nThis compilation was prepared on 3 September 2009 \ntaking into account amendments up to Retirement Savings Account modification declaration No. 2 of 2007\n\nPrepared by the Office of Legislative Drafting and Publishing, \nAttorney-General’s Department, Canberra\n\nI, Wayne Byres, a delegate of APRA, under section 177 of the Retirement Savings Accounts 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 as specified in the attached Schedule.\n\nThe declaration comes into force upon registration on the Federal Register of Legislative Instruments.\n\n Dated 19 November 2007\n\n\\[Signed\\]\n\nWayne Byres\n\nExecutive General Manager\n\nDiversified Institutions Division\n\nInterpretation\n\nIn this instrument\n\n> APRA means the Australian Prudential Regulation Authority.\n\nFederal Register of Legislative Instruments means the register established under section 20 of the Legislative Instruments Act 2003.\n\nRegulations means the Retirement Savings Accounts Regulations 1997.\n\n> Note 1 This instrument is a legislative instrument for the purposes of the Legislative Instruments Act 2003 (the LIA) (see section 5 of the LIA). Under section 56 of the LIA, the obligation under section 180 of the Act, to publish this exemption in the Gazette, is satisfied by its registration on the Federal Register of Legislative Instruments.\n\nNote 2 Under paragraph (l) of the definition of reviewable decision in section 16 of the Act, the decision to make this declaration is a reviewable decision. If you are dissatisfied with this decision, you may request APRA to reconsider it in accordance with subsection 189(1) of the Act. The request for reconsideration must be made in writing, must set out the reasons for making the request, and must be given to APRA within 21 days after the day on which you first received notice of this decision, or within such further period as APRA allows. If you are dissatisfied with the outcome of APRA’s reconsideration of the decision, you may, subject to the Administrative Appeals Tribunal Act 1975, apply to the Administrative Appeals Tribunal for review of the reconsidered decision.\n\n> Note 3 The address where the request for reconsideration referred to in this instrument may be given to APRA, is Level 26, 400 George Street, Sydney, NSW 2000.\n\n \nSchedule - the class of persons to whom this declaration applies\n\nRSA institutions\n\nSchedule - the manner in which the specified modifiable provision is modified\n\nSubregulation 5.03(4) of the Regulations is modified by:\n\n1. replacing the word “and” at the end of subparagraph (a)(ii) with the word “or”\n\n2. inserting after subparagraph (a)(ii):\n\n“(iii) the amount was a government co-contribution payment in respect of an RSA holder contribution, where the RSA holder contribution was made prior to 1 July 2007; and”\n\n> Notes to the Retirement Savings Account modification declaration No. 1 of 2007\n\n> Note 1\n\n> Note: The Retirement Savings Account modification declaration No. 1 of 2007 (in force under section 177 of the Retirement Savings Accounts Act 1997) as shown in this compilation is amended as indicated in the Tables below.\n\n> Note: > Note: Table of Instruments\n\n| Year andNumber | Date of FRLI registration | Date ofcommencement | Application, saving ortransitional provisions |\n| -------------- | ----------------------------- | ------------------- | --------------------------------------------- |\n| No. 1 of 2007 | 20 Nov 2007 (see F2007L04412) | 20 Nov 2007 | |\n| No. 2 of 2007 | 14 Dec 2007 (see F2007L04642) | 14 Dec 2007 | — |\n\n> Note: > Note: Table of Amendments\n\n```html\n

ad. = added or inserted am. = amended rep. = repealed rs. = repealed and substituted

Provision affected

How affected

First occurring schedule...............

am. No. 2 of 2007

Second occurring schedule............

am. No. 2 of 2007

\n```","sortOrder":0}],"analysis":{"flash_summary":{"complexity_score":3,"scope_assessment":{"changed":true,"description":"The declaration expands the objects captured by regulation 5.03(4) to explicitly include government co‑contribution payments relating to RSA holder contributions made before 1 July 2007, thereby broadening which amounts the regulation governs for RSA institutions."},"complexity_factors":["Narrow, textual change limited to subregulation 5.03(4) (simple connective replacement and one clause insertion).","Temporal qualifier (applies only to RSA holder contributions made prior to 1 July 2007) requires date-based application logic.","Affected class is limited to ‘RSA institutions’ (Schedule), so operational impact is concentrated but legally specific.","Interplay with existing Regulations and the Retirement Savings Accounts Act 1997 (s177) requires cross-referencing for compliance.","Potential for minor interpretive questions about scope of the inserted subparagraph (e.g. which amounts qualify as government co-contributions).","APRA delegate decision-making and internal reconsideration/appeal routes are noted (procedural complexity for affected parties)."],"plain_english_summary":"An APRA delegate, under section 177 of the Retirement Savings Accounts Act 1997, amends regulation 5.03(4) by replacing “and” with “or” and adding a new subparagraph that expressly brings government co‑contribution payments for RSA holder contributions made before 1 July 2007 within the rule. The declaration applies to RSA institutions and changes which pre‑1 July 2007 government co‑contributions are covered by the Regulations, affecting how those amounts must be treated by the institutions."},"kimi_summary":{"content_quality":"ok","complexity_score":3,"scope_assessment":{"changed":false,"description":"This is a narrow, technical modification that operates exactly within its original scope. It modifies a specific regulation regarding contribution notices for a limited class of historical contributions. There is no evidence of scope creep; the instrument performs a precise, bounded function."},"complexity_factors":["Very short instrument (approximately 2 pages)","Only 3 defined terms in the interpretation section (APRA, Federal Register of Legislative Instruments, Regulations)","Single, targeted modification to one subregulation (5.03(4))","Simple conditional logic: adds one additional exemption criterion based on a date threshold (pre-1 July 2007)","No nested exceptions or cross-references beyond the basic reference to the parent Act and Regulations","Modification involves basic textual substitution (\"and\" to \"or\") and insertion of one subparagraph"],"plain_english_summary":"This amendment narrows when Retirement Savings Account (RSA) providers must issue written \"contribution notices\": it creates an exception for government co‑contributions where the member’s own contribution was made before 1 July 2007. It’s a minor, transitional housekeeping change that reduces paperwork for RSA institutions and affects RSA holders whose pre‑July‑2007 contributions attracted a government co‑contribution."},"flash_summary_failed":{"failed":true,"reason":"A positive credit balance is required for all requests, including BYOK, so fallback providers remain available. Add credits at https://vercel.com/d?to=%2F%5Bteam%5D%2F%7E%2Fai%3Fmodal%3Dtop-up to continue.","source":"analysis-cron"}},"importantCases":[],"_links":{"self":"/api/acts/retirement-savings-account-modification-declaration-no-1-of-2007","history":"/api/acts/retirement-savings-account-modification-declaration-no-1-of-2007/history","analysis":"/api/acts/retirement-savings-account-modification-declaration-no-1-of-2007/analysis","conflicts":"/api/acts/retirement-savings-account-modification-declaration-no-1-of-2007/conflicts","importantCases":"/api/acts/retirement-savings-account-modification-declaration-no-1-of-2007/important-cases","documents":"/api/acts/retirement-savings-account-modification-declaration-no-1-of-2007/documents"}}