Commonwealth legislation

Superannuation Industry (Supervision) modification declaration No. 1 of 2009

RepealedCTH

This Act has been repealed and is no longer in force. It is retained for historical reference.

Jurisdiction

Commonwealth

Collection

legislative instrument

Plain English Summary

1/10 complexity

This document is a formal direction from APRA (the Australian Prudential Regulation Authority), the government body that oversees superannuation funds. It cancels an old exemption that had been in place since 2002.

What it does:

Revokes Modification Declaration No. 24 (officially published as No. 25) from 21 June 2002.
This means any special rule or exemption that applied to certain super funds under that old declaration stops being valid from 20 October 2009.

Who it affects:

Trustees of superannuation funds that were relying on the specific exemption or modified rules from the 2002 declaration.

Why it matters:

If a super fund was operating under the old modified rules, it must now follow the standard rules in the Superannuation Industry (Supervision) Act 1993, unless a different exemption applies.

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Current sections

Direct links to the current provisions in Superannuation Industry (Supervision) modification declaration No. 1 of 2009.

Superannuation Industry (Supervision) modification declaration No. 1 of 2009

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Superannuation Industry (Supervision)

modification declaration No. 1 of 2009

View image in the official sourceSuperannuation Industry (Supervision) Act 1993

I, Keith David Chapman , a delegate of APRA, under section 335 of the Superannuation Industry Supervision (Act) 1993 (the Act), REVOKE Modification Declaration No. 24 (Gazetted as Modification Declaration No. 25) made on 21 June 2002.

This revocation comes into force on 20 October 2009. Dated 7 October 2009

[Signed]

Keith David Chapman Executive General Manager Supervisory Support Division

Interpretation Document ID: 174864

In this instrument

APRA means the Australian Prudential Regulation Authority.

Federal Register of Legislative Instruments means the register established under section 20 of the Legislative Instruments Act 2003.

Note 1

This instrument is a legislative instrument for the purposes of the Legislative Instruments Act 2003

(the LIA) (see section 5 and Item 15 of section 7 of the LIA).

6/10/2009

Source text

Sourced from the Federal Register of Legislation (legislation.gov.au), CC BY 4.0.

1 Superannuation Industry (Supervision) modification declaration No. 1 of 2009