Commonwealth Consolidated Regulations

SUPERANNUATION INDUSTRY (SUPERVISION) (TRANSITIONAL PROVISIONS) REGULATIONS 1993 - REG 3

(1)

In these Regulations:

"applied OSS Act" has the meaning given by subregulation (2).

"applied OSS Laws" means the applied OSS Act and the applied OSS Regulations.

"applied OSS Regulations" has the meaning given by subregulation (3).

"late-lodging fund" means a fund to which paragraphs 50 (1) (a), (b), (c) and (d) of the Act applies.

"pre-lodgment period" means:

(a)

for a late-lodging fund — the period mentioned in paragraph 50 (1) (e) of the Act; or

(b)

for a terminating fund — the pre-termination period of the fund within the meaning of paragraph 50 (2) (g) of the Act.

"terminating fund" means a fund to which paragraphs 50 (2) (a), (b), (c), (d), (e), and (f) of the Act applies.

"the transitional superannuation fund conditions" means the transitional superannuation fund conditions referred to in section 50 of the Act.

(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

(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 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.