SUPERANNUATION INDUSTRY (SUPERVISION) REGULATIONS 1994 - REG 9.17 Technical insolvency--operating standard

SUPERANNUATION INDUSTRY (SUPERVISION) REGULATIONS 1994 - REG 9.17

    The trustee of a defined benefit fund that is taken to be technically insolvent for the purposes of these regulations must either:

  (a)   initiate a program in accordance with this Division that is designed by a superannuation actuary to return the fund to a position that would enable the superannuation actuary to certify the solvency of the fund in a funding and solvency certificate in accordance with regulation   9.10 not later than 5 years after the date on which the technical insolvency commenced; or

  (b)   initiate winding - up proceedings in accordance with Division   9.4.