SUPERANNUATION INDUSTRY (SUPERVISION) REGULATIONS 1994 - REG 11.08 Operating standard--disclosure of successor fund transfer

SUPERANNUATION INDUSTRY (SUPERVISION) REGULATIONS 1994 - REG 11.08

  (1)   For subsections   31(1) and 32(1) of the Act, it is a standard applicable to the operation of a superannuation entity, other than a pooled superannuation trust or a self managed superannuation fund, that the trustee must give notice in writing to the Regulator, in accordance with subregulation   (2), of a decision to transfer a member's benefits from the fund, without the member's consent.

  (2)   Notice under subregulation   (1) must be given:

  (a)   as soon as practicable after the making of the decision to transfer the member's benefits from the fund; or

  (b)   if the fund is being wound up--before the winding up is commenced.