Commonwealth Consolidated Regulations Commonwealth Consolidated Regulations(1) For the purposes of subsection 7 (1) of the Act, the following standard is prescribed in relation to the preservation of benefits arising directly or indirectly from amounts contributed to superannuation funds, namely, in relation to each member of a superannuation fund, the amount of any new employer-financed benefits, or of any improvement in employer-financed benefits (including benefits arising from improvements in vesting) vested in that member and arising from any relevant arrangement or agreement shall be preserved.
(2) In this regulation, 'relevant arrangement or agreement' means any arrangement or agreement made:
(a) in relation to a private sector fund -- on or after
22 December 1986; or
(b) in relation to a public sector fund -- on or after 1 July 1990;
other than a prescribed agreement or award, under which
new or additional
employer-financed benefits under a superannuation fund are conferred on some
or all members of the fund.