(section 3)

Do not delete : Schedule Part placeholder

[1] Rules, subrule 2 (1)

after

prescribed year

insert

preservation age

[2] Rules, subrule 2 (1)

after

previous legislation

insert

regulated superannuation fund

[3] Rules, subrule 10 (4), definition of prescribed arrangement, paragraph (b)

omit

Superannuation Industry (Supervision) Regulations

insert

Superannuation Industry (Supervision) Regulations 1994

[4] Rules, paragraph 12 (2) (a)

after

lump sum

insert

, in accordance with Part 11

[5] Rules, paragraphs 13 (1) (a) and (2) (d)

after

lump sum

insert

, in accordance with Part 11

[6] Rules, subrule 14 (1)

after

lump sum

insert

, in accordance with Part 11

[7] Rules, paragraph 23 (8A) (c)

omit

or (e)

insert

, (e) or (f)

[8] Rules, paragraphs 27 (1) (a) and 28 (1) (a)

after

lump sum

insert

, in accordance with Part 11

[9] Rules, subrule 29 (3)

after

paragraph 51 (1) (e)

insert

or (f)

[10] Rules, subrule 49 (1)

after

lump sum

insert

, in accordance with Part 11

[11] Rules, rule 51, heading

substitute

51 Certain benefits included in preserved benefits

[12] Rules, subrule 51 (1)

after

the employer benefit

insert

and member benefit

[13] Rules, paragraph 51 (1) (e)

substitute

(e) the Australian Prudential Regulation Authority determines that the person satisfies a condition of release on a compassionate ground under subregulation 6.19A (2) of the Superannuation Industry (Supervision) Regulations 1994 — the date of approval;

[14] Rules, paragraph 51 (1) (f)

omit

the Superannuation Industry (Supervision) Regulations

insert

the Superannuation Industry (Supervision) Regulations 1994

[15] Rules, paragraph 52 (1) (a)

after

lump sum

insert

in accordance with Part 11

[16] Rules, subparagraphs 52 (1) (c) (ii) and (d) (iv)

after

lump sum

insert

in accordance with Part 11

[17] Rules, after rule 81

insert

Part 11 Preserved benefits

82 Member benefits accruing before 1 July 1999

If a person becomes entitled to be paid a member benefit:

(a) the amount of the member benefit accruing to the person before 1 July 1999 is payable to him or her as a lump sum; or

(b) the person may elect to preserve that amount in a regulated superannuation fund.

83 Member benefits accruing on or after 1 July 1999

If a person becomes entitled to be paid a member benefit, the amount of the benefit accruing to the person on or after 1 July 1999 must be preserved in a regulated superannuation fund until he or she attains his or her preservation age.

84 Employer benefits

If a person turns 55 before attaining his or her preservation age, the amount of the employer benefit accruing to the person must be preserved in a regulated superannuation fund until he or she attains his or her preservation age.

[18] Rules, Schedule 1, clause 1, definition of interim benefit

omit

Defence Force (Superannuation Interim Arrangement) Determination

insert

Defence Force (Superannuation) (Productivity Benefit) Determination

[19] Rules, Schedule 1, clause 1, after definition of prescribed year

insert

preservation age has the same meaning as in subregulation 6.01 (2) of the Superannuation Industry (Supervision) Regulations 1994.

[20] Rules, Schedule 1, clause 1, after definition of previous legislation

insert

regulated superannuation fund has the same meaning as in section 19 of the Superannuation Industry (Supervision) Act 1993.