Do not delete : Schedule Part placeholder

(regulation 3)

[1] Regulation 1

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1 Name of Regulations

These Regulations are the Superannuation Industry (Supervision) (Transitional Provisions) Regulations 1993.

[2] Subregulations 3 (2) and (3)

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(2) In these Regulations, a reference to the applied OSS Act is a reference to:

(a) in relation to matters occurring on a day before 1 July 1994:

(i) the provisions of the Superannuation (Self Managed Superannuation Funds) Taxation Act 1987, as in force on that day, that are specified in Part 1 of Schedule 1; and

(ii) the provisions of that Act, as in force on 30 November 1993, that are specified in column 1 in Part 2 of Schedule 1, as modified in accordance with the respective provisions in column 2 in that Part; and

(iii) the provisions of that Act, as in force on the day mentioned in subparagraph (i), that are specified in, and modified by, Part 3 of Schedule 1; and

(b) in relation to matters occurring on or after 1 July 1994:

(i) the provisions of the Superannuation (Self Managed Superannuation Funds) Taxation Act 1987, as in force on 30 June 1994, that are specified in Part 1 of Schedule 1; and

(iii) the provisions of that Act, as in force on 30 June 1994, that are specified in, and modified by, Part 3 of Schedule 1.

(3) In these Regulations, a reference to the applied OSS Regulations is a reference to:

(a) in relation to matters occurring on a day before 1 July 1994:

(i) the provisions of the Occupational Superannuation Standards Regulations, as in force on that day, that are specified in Part 1 of Schedule 2; and

(ii) the provisions of those Regulations, as in force on 30 November 1993, that are specified in, and modified by, Part 2 of Schedule 2; and

(iii) the provisions of those Regulations, as
in force on the day mentioned in subparagraph (i), that are specified in, and modified by, Part 3 of Schedule 2; and

(b) in relation to matters occurring on or after 1 July 1994:

(i) the provisions of the Occupational Superannuation Standards Regulations, as in force on 30 June 1994, that are specified in Part 1 of Schedule 2; and

(ii) the provisions of those Regulations, as in force on 30 November 1993, that are specified in, and modified by, Part 2 of Schedule 2; and

(iii) the provisions of those Regulations, as in force on 30 June 1994, that are specified in, and modified by, Part 3 of Schedule 2.

[3] Paragraph 5 (b)

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the Commissioner

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APRA

[4] Schedule 1, Part 1

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Part 1 Unmodified provisions

1. Subsections 3 (2), (4) and (5)

2. Section 7

3. Subsections 16 (2), (7), (8) and (9)

[5] Schedule 1, Part 2, modified subsection 3 (1), definition of reviewable decision

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the Commissioner

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APRA

[6] Schedule 1, Part 2, modified subsection 3 (1), definition of this Act

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Occupational Superannuation Standards Act 1987

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Superannuation (Self Managed Superannuation Funds) Taxation Act 1987

[7] Schedule 1, Part 2, modified subsection 10 (2)

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the Commissioner

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APRA

[8] Schedule 1, Part 2, modified subsection 12 (3)

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the Commissioner

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APRA

[9] Schedule 1, Part 2, modified subsection 12 (4)

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the Commissioner

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APRA

[10] Schedule 1, after Part 2

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Part 3 Additional modifications

The following provisions are modified by omitting ‘the Commissioner’ or ‘The Commissioner’, wherever occurring, and inserting ‘APRA’:

subsection 3 (1), definition of superannuation fund
subsection 3 (3)
section 11
subsection 12 (3A)
section 12A
subsections 16 (3), (4), (5) and (6)
section 17.

[11] Schedule 2, Part 1

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Part 1 Unmodified provisions

1. Subregulations 3 (2), (3), (4), (5), (6), (7), (8), (9) and (10)

2. Regulations 3B, 3C and 3D

3. Part II, except:

(a) regulations 5AAA, 5AAB and 5AAD; and

(b) subregulation 9 (3); and

(d) paragraph 13 (1) (e); and

(e) subregulations 16A (4), (7), (9), (12) and (13); and

(f) regulations 17 and 17A; and

(g) subregulations 18 (2) and (3); and

(h) regulations 18A, 18B and 18E; and

(i) subregulations 18H (3), 18Q (3) and (5) and 18QA (2) and (4); and

(j) regulations 18R and 18Y

4. Regulations 23Q and 26

5. Schedules 1, 1A, 2, 4, 5, 6, 7, 8 and 9, to the extent that the Schedules are applicable to other provisions of the applied OSS Regulations

[12] Schedule 2, Part 2, item 1, modified subregulation 3 (1), definition of the Act

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Occupational Superannuation Standards Act 1987

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Superannuation (Self Managed Superannuation Funds) Taxation Act 1987

[13] Schedule 2, Part 2, after item 2

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2A. Regulation 9 (Preservation standards)

2A.1 Subregulation 9 (3)

Omit all the words after paragraph (b), substitute:

‘the governing rules of which have been approved by APRA or the Commissioner of Taxation must be preserved.’.

[14] Schedule 2, Part 2, item 3, modified sub-subparagraph 11 (1) (a) (iii) (D)

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the Commissioner

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APRA

[15] Schedule 2, Part 2, item 4, modified paragraphs 17 (1) (b) and (c)

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the Commissioner

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APRA

[16] Schedule 2, Part 2, item 4, modified paragraph 17 (4) (b)

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the Commissioner

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APRA

[17] Schedule 2, Part 2, item 4, modified subparagraph 17 (4) (e) (ii)

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the Commissioner

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APRA

[18] Schedule 2, Part 2, item 4, modified sub-subparagraph 17 (6) (a) (iii) (B)

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the Commissioner

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APRA

[19] Schedule 2, Part 2, item 8, modified subregulation 25 (7), heading

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APRA may waive requirements

[20] Schedule 2, Part 2, item 8, modified subregulation 25 (7)

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The Commissioner

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APRA

[21] Schedule 2, after Part 2

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Part 3 Additional modifications

The following provisions are modified by omitting ‘the Commissioner’ or ‘The Commissioner’, wherever occurring, and inserting ‘APRA’:

regulations 5AAA, 5AAB and 5AAD
paragraph 13 (1) (e)
subregulations 16A (4), (7), (9), (12) and (13)
regulation 17A
regulation 18A
subregulation 18H (3)
regulation 18Q, heading
subregulations 18Q (3) and (5)
subregulations 18QA (2) and (4)
item 1 of Schedule 3.

Notes

1. These Regulations amend Statutory Rules 1993 No. 352, as amended by 1994 No. 190; 1995 No. 157; 1997 No. 414; 1998 No. 81.

2. Made by the Governor-General on 22 March 2000, and notified in the Commonwealth of Australia Gazette on 29 March 2000.