Commonwealth Consolidated Acts

SUPERANNUATION INDUSTRY (SUPERVISION) ACT 1993 - SECT 6

             (1)  Subject to subsections (3) and (4):

                     (a)  APRA has the general administration of the following provisions, to the extent that administration of the provisions is not conferred on the Commissioner of Taxation by paragraph (e) or (g):

                              (i)  Parts 2A and 2B;

                             (ii)  Parts 4 to 5;

                            (iii)  section 60A;

                            (iv)  Part 7 (other than sections 64A and 68A);

                             (v)  Parts 8 to 11;

                            (vi)  Part 12 (other than sections 101, 103 and 105);

                           (vii)  Part 14 to 16;

                           (viii)  Part 17;

                            (ix)  Part 21;

                             (x)  Parts 23 to 24A;

                            (xi)  Division 3 of Part 25;

                           (xii)  Part 25A (except Division 1);

                           (xiii)  Part 32; and

                     (b)  APRA also has the general administration of Parts 3 and 6 (other than section 60A) and section 105 to the extent that that administration is not conferred on ASIC by paragraph (d) or on the Commissioner of Taxation by paragraph (f); and

                     (c)  ASIC has the general administration of:

                              (i)  sections 64A and 68A; and

                             (ii)  sections 101 and 103; and

                            (iii)  Part 19;

                            to the extent that administration is not conferred on the Commissioner of Taxation by paragraph (e); and

                     (d)  ASIC also has the general administration of Parts 3 and 6 (other than section 60A) and section 105 to the extent to which they relate to:

                              (i)  the keeping of reports to members of, or beneficiaries in, funds; or

                             (ii)  disclosure of information to members of, or beneficiaries in, funds; or

                            (iii)  disclosure of information about funds (including disclosure of information to ASIC but not including disclosure of information to APRA); or

                            (iv)  any other matter prescribed by the regulations for the purposes of this paragraph; and

                     (e)  the Commissioner of Taxation has the general administration of the following provisions to the extent that they relate to self managed superannuation funds:

                              (i)  Parts 4, 5, 7 (other than section 68A) and 8;

                             (ii)  Part 12 (other than section 105);

                            (iii)  Parts 13 and 14;

                            (iv)  Part 15;

                             (v)  Parts 16, 17 (other than section 140), 21 and 24, and Divisions 2, 3, 4 and 5 of Part 25A; and

                      (f)  the Commissioner of Taxation also has the general administration of Parts 3 and 6 (other than section 60A) and section 105:

                              (i)  to the extent that they relate to self managed superannuation funds; and

                             (ii)  to the extent that administration is not conferred on ASIC by paragraph (d); and

                     (g)  the Commissioner of Taxation also has the general administration of Divisions 1 and 3A of Part 25A.

             (2)  Powers and duties are also conferred by Parts 1, 25 (other than Division 3) and 26 27, 28, 29 (other than section 332) and 30 on:

                     (a)  APRA for the purposes of APRA's administration of the provisions it administers; and

                     (b)  ASIC for the purposes of ASIC's administration of the provisions it administers.

Note:          Generally neither APRA nor ASIC are referred to in these provisions, Regulator is used instead. See the definition of Regulator in section 10.

          (2A)  Powers and duties are also conferred by Parts 1, 25 (other than Division 3), 26 to 28, 29 (other than section 332) and 30 (other than section 342) on the Commissioner of Taxation for the purposes of the administration of the provisions he or she administers.

Note:          Generally, the Commissioner of Taxation is not referred to in these provisions, Regulator is used instead.

          (2B)  Powers and duties are also conferred on APRA by section 332 for the purposes of the administration of provisions administered by APRA or by the Commissioner of Taxation.

             (3)  The Minister may give APRA or ASIC directions about the performance or exercise of its functions or powers under this Act.

             (4)  Despite subsection (1):

                     (a)  if an entity is not a self managed superannuation fund on the last day of a year of income, APRA has (subject to any later application of this subsection) the general administration of subsections 40(1) and (2), in relation to the entity, in respect of the following:

                              (i)  the doing of anything after the end of that year of income, in relation to that year of income;

                             (ii)  the doing of anything after the end of that year of income, in relation to any previous year of income; and

                     (b)  if an entity is a self managed superannuation fund on the last day of a year of income, the Commissioner of Taxation has (subject to any later application of this subsection) the general administration of subsections 40(1) and (2), in relation to the entity, in respect of the following:

                              (i)  the doing of anything after the end of that year of income, in relation to that year of income;

                             (ii)  the doing of anything after the end of that year of income, in relation any previous year of income; and

                     (c)  the following rules apply in relation to the general administration of subparagraphs 42(1AA)(b)(ii) and (c)(ii), subsection 42(1AC), subparagraphs 42A(3)(c)(ii) and (d)(ii) and subsection 42A(4):

                              (i)  subject to subparagraph (ii), APRA has the general administration of those provisions;

                             (ii)  if another person or body is specified in regulations under subsection 19(4) in respect of a class of superannuation funds, that person or body has the general administration of those provisions to the extent that they relate to funds belonging to that class.