SUPERANNUATION INDUSTRY (SUPERVISION) REGULATIONS 1994 - REG 6.34C Receiving fund must electronically receive information and payment

SUPERANNUATION INDUSTRY (SUPERVISION) REGULATIONS 1994 - REG 6.34C

  (1)   This regulation applies to a regulated superannuation fund or approved deposit fund (the receiving fund ) if:

  (a)   another regulated superannuation fund or approved deposit fund, or an RSA provider (the transferring fund ) gives to the receiving fund in relation to a rollover or transfer:

  (i)   the information mentioned in subregulation   6.34B(1); and

  (ii)   a payment of the whole or a part of a member's withdrawal benefit being rolled over or transferred to the receiving fund; and

  (b)   the information is given, and the payment made, in accordance with the applicable Standards (if any) made under subsection   34K(3) of the Act or subsection   45B(3) of the RSA Act.

  (2)   The receiving fund must be able to receive the information and payment electronically.

Note:   Standards made under subsection   34K(3) may set out additional requirements for how the fund is to receive the information and payment.