SUPERANNUATION INDUSTRY (SUPERVISION) REGULATIONS 1994 - REG 9.09 Funding and solvency certificates--operating standard

SUPERANNUATION INDUSTRY (SUPERVISION) REGULATIONS 1994 - REG 9.09

  (1)   The trustee of a defined benefit fund to which this Division applies must, in accordance with this Division, obtain from a superannuation actuary a funding and solvency certificate in relation to the fund.

  (1A)   The Regulator may direct the trustee of the fund, in writing, to obtain from a superannuation actuary a new or replacement funding and solvency certificate if the Regulator considers, on reasonable grounds, that to do so would be:

  (a)   in the prudential interests of the fund; and

  (b)   in the best interests of the members of the fund.

  (1B)   The trustee of the fund must comply with a written direction under subregulation   (1A).

  (2)   The trustee of the fund must, as soon as practicable, give a copy of a certificate obtained under this regulation to each employer - sponsor who has contributed or is contributing to the fund.