{"id":"F2007L02413","name":"Superannuation Industry (Supervision) modification declaration No. 2 of 2007","slug":"superannuation-industry-supervision-modification-declaration-no-2-of-2007","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":67831,"registerId":"commonwealth-F2007L02413-current","compilationNumber":null,"startDate":"2026-04-02","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Superannuation Industry (Supervision) modification declaration No. 2 of 2007","content":"![](image.001.png)\n\nSuperannuation Industry (Supervision)\n\nmodification declaration No. 2 of 2007\n\n![](image.002.png)Superannuation Industry (Supervision) Act 1993\n\nI, Thomas Karp, a delegate of APRA, under section 332 of the Superannuation Industry\n\n(Supervision) Act 1993 (the Act), DECLARE that 7.04 of the Regulations has effect in\n\nrelation to the class of persons described in the attached Schedule, as if it were modified in the manner specified in the attached Schedule.\n\nThis declaration comes into force upon registration of this instrument on the Federal Register\n\nof Legislative Instruments.\n\nDated 31 July 2007\n\n\\[Signed\\]\n\nThomas Karp\n\nExecutive General Manager\n\nSupervisory Support Division\n\nInterpretation Document ID: 147630\n\nIn this instrument\n\nAPRA means the Australian Prudential Regulation Authority.\n\nFederal Register of Legislative Instruments means the register established under section 20\n\nof the Legislative Instruments Act 2003.\n\nRegulations means the Superannuation Industry (Supervision) Regulations 1994.\n\nNote 1\n\n  \n\nThis instrument is a legislative instrument for the purposes of the Legislative Instruments Act 2003\n\n(the LIA) (see section 5 and Item 15 of section 7 of the LIA). Under section 56 of the LIA, the obligation under section 336 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\n\n  \nUnder paragraph (zb) of the definition of reviewable decision in subsection 10(1) of the Act, the\n\ndecision 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 344(1) of the Act. The request for\n\nreconsideration 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,\n\nyou may, subject to the Appeals Tribunal Act 1975, apply to the Administrative Appeals Tribunal for review\n\nof the reconsidered decision.\n\nNote 3\n\n  \n\nThe address where the request for reconsideration referred to in this instrument may be given to\n\nAPRA, is Level 26, 400 George Street, Sydney, NSW 2000.\n\nSchedule \\- the class of persons to whom this declaration\n\napplies\n\nAll RSE Licensees\n\nSchedule \\- the manner in which the specified modifiable\n\nprovisions are modified\n\nRegulation 7.04 of the Regulations is modified by replacing subparagraph (4)(a)(i) with:\n\nfor an amount received in a manner that is inconsistent with subregulation (2):\n\n(A) the member's tax file number is quoted (for superannuation purposes)\n\nwithin 30 days of this amount being received by the trustee of the fund; or\n\n(B) the member’s only interest in the fund is a risk insurance interest and, by 31 December 2007:\n\nI. the member's tax file number is quoted (for superannuation purposes); or\n\nII the trustee of the fund returns the amount received to the entity or person that paid the amount; or","sortOrder":0}],"analysis":{"flash_summary":{"complexity_score":4,"scope_assessment":{"changed":true,"description":"This declaration alters the operation of Regulation 7.04(4)(a)(i) by adding alternative compliance routes for amounts received inconsistently with Regulation 2: a 30-day window to quote a TFN, and a transitional option (by 31 December 2007) for risk-insurance-only interests to either quote the TFN or have the trustee return the amount. Concretely, it shifts operational responsibility onto trustees (RSE licensees) to obtain TFNs within set timeframes or to refund payments."},"complexity_factors":["Narrow textual amendment to a single regulation (Regulation 7.04) but with operational effects across all RSE licensees.","Cross-reference to Regulation 2 — requires trustees to identify contributions that are \"inconsistent with subregulation (2)\" and apply the modified test.","Time-limited transitional rule (31 December 2007) for members whose only interest is a risk insurance interest, adding deadline-driven compliance.","Administrative burden on trustees to track 30-day TFN-quote windows and to return amounts where required (explicit trustee action).","Potential interaction with tax/TFN rules and downstream recordkeeping and reporting obligations not altered in this instrument.","Decision and review pathway: instrument made under s.332 of the Act, with internal reconsideration (subsection 344(1)) and AAT review rights noted — creates procedural remedies for affected parties."],"plain_english_summary":"This instrument modifies regulation 7.04 of the Superannuation Industry (Supervision) Regulations for all RSE licensees. It lets trustees treat contributions received inconsistently with regulation 2 as acceptable if the member quotes their tax file number (TFN) within 30 days, or, for members whose only interest is a risk insurance interest, if by 31 December 2007 the TFN is quoted or the trustee returns the amount. It changes trustees’ administrative duties and refund obligations."},"flash_summary_failed":{"failed":true,"reason":"Unauthenticated. Configure AI_GATEWAY_API_KEY or use a provider module. Learn more: https://ai-sdk.dev/unauthenticated-ai-gateway","source":"analysis-cron"},"kimi_summary":{"content_quality":"ok","complexity_score":3,"scope_assessment":{"changed":false,"description":"This declaration performs exactly the function intended by section 332 of the SIS Act — it modifies regulations for a specific class of persons. The scope remains tightly constrained to the TFN quoting requirements in regulation 7.04 and does not expand beyond the original regulatory purpose."},"complexity_factors":["Short, single-purpose instrument (modifies only one subparagraph of one regulation)","Only 1 defined term in the interpretation section ('APRA', 'Federal Register of Legislative Instruments', 'Regulations')","Simple conditional structure (two alternative pathways: 30-day rule vs. 31 December 2007 rule)","No nested exceptions or cross-references to other legislation beyond the basic enabling Act and Regulations","Clear class of affected persons ('All RSE Licensees')","Limited temporal scope (specific deadline of 31 December 2007)"],"plain_english_summary":"This APRA modification declaration temporarily relaxes TFN requirements for all RSE licensees, allowing super funds extra time when contributions arrive without a member’s TFN. Affected members get a short grace period (30 days) to supply their TFN, while members with only a risk insurance interest have until 31 December 2007 to provide a TFN or have the contribution returned."}},"importantCases":[],"_links":{"self":"/api/acts/superannuation-industry-supervision-modification-declaration-no-2-of-2007","history":"/api/acts/superannuation-industry-supervision-modification-declaration-no-2-of-2007/history","analysis":"/api/acts/superannuation-industry-supervision-modification-declaration-no-2-of-2007/analysis","conflicts":"/api/acts/superannuation-industry-supervision-modification-declaration-no-2-of-2007/conflicts","importantCases":"/api/acts/superannuation-industry-supervision-modification-declaration-no-2-of-2007/important-cases","documents":"/api/acts/superannuation-industry-supervision-modification-declaration-no-2-of-2007/documents"}}