{"id":"F2007L04438","name":"Superannuation Industry (Supervision) approval of provision of benefits No. 1 of 2007","slug":"superannuation-industry-supervision-approval-of-provision-of-benefits-no-1-of-2007","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":70805,"registerId":"commonwealth-F2007L04438-current","compilationNumber":null,"startDate":"2026-04-02","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Superannuation Industry (Supervision) approval of provision of benefits No. 1 of 2007","content":"![](image.001.png)\n\nSuperannuation Industry (Supervision) approval of provision of benefits No.1 of 2007\n\nSuperannuation Industry (Supervision) Act 1993\n\nI, Thomas Karp, a delegate of APRA, under subsection 33(3) of the Acts Interpretation Act 1901 and subparagraph 62(1)(b)(v) of the Superannuation Industry (Supervision) Act 1993 (the Act):\n\n-   REVOKE the approval of provision of benefits made under subparagraph 62(1)(b)(v) of the Act which is dated 1 July 1997; and\n\n-   APPROVE the provision of the benefits set out in the Schedule.\n\nThis instrument comes into force from the date of registration on the Federal Register of Legislative Instruments.\n\n    Dated 20 November 2007\n\n\\[Signed\\]\n\nTom Karp\n\nExecutive General Manager\n\nSupervisory Support Division\n\nInterpretation\n\nIn this Notice:\n\n> APRA means the Australian Prudential Regulation Authority;\n\n> Regulator has the same meaning as in section 10 of the Act;\n\nSIS Regulations means the Superannuation Industry (Supervision) Regulations 1994.\n\n> Federal Register of Legislative Instruments means the register of that name established from 1 January 2005 under the Legislative Instruments Act 2003.\n\nSchedule\n\n1. The provision of benefits for or in respect of each member of the fund which Part 6 of the SIS Regulations\n\n(a) permits to be paid (by being cashed, rolled over or transferred); or\n\n(b) requires to be paid;\n\nwhen, to the extent that, and to the persons to whom, the fund is permitted or required under Part 6 of the SIS Regulations to pay them.\n\n2. The provision of benefits referred to in paragraph 1 includes:\n\n(a) provision pursuant to Part 6 of the SIS Regulations as modified by APRA under section 332 of the Act; and\n\n(b) provision pursuant to Part 6 of the SIS Regulations where the provision of the benefit is facilitated by an exemption made by APRA under section 328 of the Act.","sortOrder":0}],"analysis":{"flash_summary":{"complexity_score":3,"scope_assessment":{"changed":true,"description":"This instrument revokes the 1 July 1997 approval and replaces it with an approval that expressly ties provision of benefits to Part 6 of the SIS Regulations and to benefits arising where APRA has modified Part 6 (s332) or granted exemptions (s328) (Schedule paras 1–2). Determining whether this broadens or narrows coverage requires direct comparison with the revoked 1997 instrument; procedurally it updates the approval to align with APRA's current modification/exemption powers."},"complexity_factors":["Short, narrow instrument whose legal effect depends on reading and applying Part 6 of the SIS Regulations (Schedule, para 1).","Incorporates APRA's discretionary modification and exemption powers (Schedule, para 2; references to s332 and s328 of the Act), which requires tracing administrative instruments.","Revokes a prior approval dated 1 July 1997 (main text), so full impact needs comparison with the superseded instrument.","Operative start tied to registration on the Federal Register of Legislative Instruments (main text), so timing and record‑keeping matter for implementation.","Affects multiple actors (APRA as decision‑maker; trustees/funds as payers; members as recipients), creating administrative and compliance steps for trustees under external rules."],"plain_english_summary":"This instrument, signed by an APRA delegate, revokes a 1997 approval and re‑authorises the payment, rollover or transfer of superannuation benefits as permitted or required by Part 6 of the SIS Regulations. It takes effect on registration. \n\nIt expressly covers benefits paid where Part 6 has been modified by APRA (s332) or where APRA has granted an exemption (s328). The practical parties affected are trustees/funds (who make payments) and fund members (who receive them)."},"kimi_summary":{"content_quality":"ok","complexity_score":3,"scope_assessment":{"changed":false,"description":"This instrument maintains the same scope as its predecessor. It is a routine administrative approval that enables super funds to make benefit payments according to existing regulations. The revocation and replacement of the 1997 approval appears to be a housekeeping update rather than an expansion of scope."},"complexity_factors":["Short document (approximately 300 words)","Only 4 defined terms in the interpretation section","Heavy reliance on external references (Part 6 of SIS Regulations, sections 328 and 332 of the Act) without reproducing that content","Simple binary structure: revoke old approval, approve new schedule","No nested conditional logic or exceptions within the instrument itself"],"plain_english_summary":"This APRA approval (made by Tom Karp on 20 Nov 2007) revokes the prior 1 July 1997 approval and authorises superannuation funds to pay member benefits under the Superannuation Industry (Supervision) Regulations. It affects funds and their members by legally permitting the payment rules to be followed — including mandatory and optional payments and cases where APRA has modified rules or granted exemptions — so funds can lawfully pay benefits."},"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/superannuation-industry-supervision-approval-of-provision-of-benefits-no-1-of-2007","history":"/api/acts/superannuation-industry-supervision-approval-of-provision-of-benefits-no-1-of-2007/history","analysis":"/api/acts/superannuation-industry-supervision-approval-of-provision-of-benefits-no-1-of-2007/analysis","conflicts":"/api/acts/superannuation-industry-supervision-approval-of-provision-of-benefits-no-1-of-2007/conflicts","importantCases":"/api/acts/superannuation-industry-supervision-approval-of-provision-of-benefits-no-1-of-2007/important-cases","documents":"/api/acts/superannuation-industry-supervision-approval-of-provision-of-benefits-no-1-of-2007/documents"}}