SUPERANNUATION INDUSTRY (SUPERVISION) REGULATIONS 1994 - REG 11.07A Operating standard--disclosure on change of status

SUPERANNUATION INDUSTRY (SUPERVISION) REGULATIONS 1994 - REG 11.07A

  (1)   For subsection   31(1) of the Act, the requirement in subregulation   (3) is a standard applicable to the operation of a regulated superannuation fund.

  (2)   The standard applies to the trustee of a superannuation fund that:

  (a)   is a self managed superannuation fund and:

  (i)   ceases to be such a superannuation fund; or

  (ii)   ceases to exist; or

  (b)   is not a self managed superannuation fund and becomes such a superannuation fund.

  (3)   Within 28 days after the trustee first has knowledge of such a change, the trustee must tell the Commissioner of Taxation in writing:

  (a)   the fund's name; and

  (b)   its ABN; and

  (c)   the name of an individual who is able to act as a contact person, and his or her telephone and facsimile numbers; and

  (d)   the date on which the change occurred; and

  (e)   if the fund has not ceased to exist--whether it has become a self managed superannuation fund; and

  (f)   if the fund has become a self managed superannuation fund:

  (i)   for any trustee of the fund that is an individual--his or her name, date of birth and sex; or

  (ii)   for any trustee that is a corporation--its name and its ABN; and

  (g)   if the fund has not ceased to exist, but is not a self managed superannuation fund after the change--the trustee's name and its ABN.

  (4)   In subregulation   (3):

"ABN" , for an entity, means the Australian Business Number given to the entity under the A New Tax System (Australian Business Number) Act 1999 .