Superannuation Legislation Amendment (Superannuation Drawdown) Regulations 2021

I, General the Honourable David Hurley AC DSC (Retd), Governor‑General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following regulations.

Dated 24 June 2021

David Hurley

Governor‑General

By His Excellency’s Command

Josh Frydenberg

Treasurer

Contents

1 Name

2 Commencement

3 Authority

4 Schedules

Schedule 1—Amendments

Retirement Savings Accounts Regulations 1997

Superannuation Industry (Supervision) Regulations 1994

1  Name

  This instrument is the Superannuation Legislation Amendment (Superannuation Drawdown) Regulations 2021.

2  Commencement

 (1) Each provision of this instrument specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.

Note: This table relates only to the provisions of this instrument as originally made. It will not be amended to deal with any later amendments of this instrument.

 (2) Any information in column 3 of the table is not part of this instrument. Information may be inserted in this column, or information in it may be edited, in any published version of this instrument.

3  Authority

  This instrument is made under the following:

 (a) the Retirement Savings Accounts Act 1997;

 (b) the Superannuation Industry (Supervision) Act 1993.

4  Schedules

  Each instrument that is specified in a Schedule to this instrument is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its terms.

Schedule 1—Amendments

Retirement Savings Accounts Regulations 1997

1  Clause 3A of Schedule 1

Omit “and 1 July 2020,”, substitute “, 1 July 2020 and 1 July 2021,”.

2  Clause 3A of Schedule 1A

Omit “and 1 July 2020,”, substitute “, 1 July 2020 and 1 July 2021,”.

3  Clause 10 of Schedule 4

Omit “and 1 July 2020,”, substitute “, 1 July 2020 and 1 July 2021,”.

4  Clause 3A of Schedule 5

Omit “and 1 July 2020,”, substitute “, 1 July 2020 and 1 July 2021,”.

Superannuation Industry (Supervision) Regulations 1994

5  Clause 3A of Schedule 1A

Omit “and 1 July 2020,”, substitute “, 1 July 2020 and 1 July 2021,”.

6  Clause 3A of Schedule 1AAB

Omit “and 1 July 2020,”, substitute “, 1 July 2020 and 1 July 2021,”.

7  Clause 10 of Schedule 6

Omit “and 1 July 2020,”, substitute “, 1 July 2020 and 1 July 2021,”.

8  Clause 4A of Schedule 7

Omit “and 1 July 2020,”, substitute “, 1 July 2020 and 1 July 2021,”.