{"id":"F2007L04408","name":"Superannuation Industry (Supervision) modification declaration No. 3 of 2007","slug":"superannuation-industry-supervision-modification-declaration-no-3-of-2007","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":70755,"registerId":"commonwealth-F2007L04408-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. 3 of 2007","content":"![](image.001.png)\n\nSuperannuation Industry (Supervision)\n\nmodification declaration No. 3 of 2007\n\n![](image.002.png)Superannuation Industry (Supervision) Act 1993\n\nI, Wayne Byres, a delegate of APRA, under section 332 of the Superannuation Industry\n\n(Supervision) Act 1993 (the Act), DECLARE that subregulation 7.04(4) of the Regulations\n\nhas 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.\n\nThis declaration comes into force upon registration of this instrument on the Federal Register\n\nof Legislative Instruments.\n\nDated 19 November 2007\n\n\\[Signed\\]\n\nWayne Byres\n\nExecutive General Manager\n\nDiversified Institutions Division\n\nInterpretation Document ID: 150538\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\nSubregulation 7.04(4) of the Regulations, as modified by Modification Declaration No.2 of\n\n2007, is modified by inserting at the end of paragraph (a):\n\n“(C) 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; or”","sortOrder":0}],"analysis":{"flash_summary":{"complexity_score":3,"scope_assessment":{"changed":true,"description":"The instrument expands the operation of subregulation 7.04(4)(a) to explicitly include government co‑contribution payments tied to member contributions made before 1 July 2007, thereby changing the regulatory treatment of those amounts for all RSE licensees (modifies existing coverage as previously altered by Modification Declaration No.2 of 2007)."},"complexity_factors":["Targeted, single‑paragraph textual amendment to subregulation 7.04(4) (low substantive breadth).","Cross‑reference dependence: modification builds on Modification Declaration No.2 of 2007 and the existing Regulations, requiring users to read layered instruments.","Clear temporal cutoff (member contributions made prior to 1 July 2007) that requires historical record‑checking by RSE licensees.","Uniform application to all RSE licensees concentrates implementation responsibilities on regulated entities.","Procedural elements: instrument is a legislative instrument registered on the Federal Register of Legislative Instruments and is a reviewable decision under the Act (appeal/reconsideration routes available).","Decision made by an APRA delegate (administrative discretion in exercise of delegation)."],"plain_english_summary":"An APRA delegate (Wayne Byres) amends subregulation 7.04(4) of the SIS Regulations to add that government co‑contribution payments relating to member contributions made before 1 July 2007 are captured by paragraph (a) (inserting a new subparagraph (C)). The change applies to all RSE licensees. Practically, APRA requires RSE licensees to treat and process those government co‑contributions differently; the government provides the payment, affected members are those with pre‑1 July 2007 contributions, and licensees bear the administrative and compliance adjustments."},"kimi_summary":{"content_quality":"ok","complexity_score":2,"scope_assessment":{"changed":false,"description":"This instrument performs a narrow, technical amendment consistent with its original purpose under section 332 of the SIS Act — to modify regulations for specific classes of persons. The scope remains tightly constrained to the specific regulatory issue addressed."},"complexity_factors":["Very short instrument (2 pages)","Only 3 defined terms (APRA, Federal Register of Legislative Instruments, Regulations)","Single, discrete modification to one subregulation","No nested conditions or cross-references beyond the basic statutory framework","Straightforward class of persons (all RSE licensees)","Modification itself is a simple insertion of one paragraph with a clear date-based condition"],"plain_english_summary":"This modification to the SIS Regulations permits all RSE licensees to accept specified government co‑contribution payments even where the associated member contribution was made before 1 July 2007. It’s a targeted, transitional fix so trustees aren’t forced to reject old‑era contributions and thereby deny members co‑contributions that arose under the pre‑2007 rules."},"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-modification-declaration-no-3-of-2007","history":"/api/acts/superannuation-industry-supervision-modification-declaration-no-3-of-2007/history","analysis":"/api/acts/superannuation-industry-supervision-modification-declaration-no-3-of-2007/analysis","conflicts":"/api/acts/superannuation-industry-supervision-modification-declaration-no-3-of-2007/conflicts","importantCases":"/api/acts/superannuation-industry-supervision-modification-declaration-no-3-of-2007/important-cases","documents":"/api/acts/superannuation-industry-supervision-modification-declaration-no-3-of-2007/documents"}}