[pic] Superannuation (Resolution of Complaints) Regulations 1994 Statutory Rules 1994 No. 56 as amended made under the Superannuation (Resolution of Complaints) Act 1993 This compilation was prepared on 3 June 2008 taking into account amendments up to SLI 2008 No. 95 Prepared by the Office of Legislative Drafting and Publishing, Attorney-General's Department, Canberra Contents 1 Name of Regulations [see Note 1] 3 2 Commencement [see Note 1] 3 3 Interpretation 3 4A Exempt public sector superannuation schemes taken to be regulated super funds (Act, s 4A) 3 4B Persons to be treated as beneficiaries, members etc (Act s 4B) 3 5 Payment of death benefits - period for objections and complaints 5 5A Statement of amount or amounts in respect of person's contributed amounts - period to make complaint 5 6 Complaint-handling bodies 5 7 Method of calculation of interest 5 Schedule 1 Exempt Public Sector Superannuation Schemes taken to be regulated superannuation funds 7 Schedule 2 Complaint-handling bodies 8 Notes 9 1 Name of Regulations [see Note 1] These Regulations are the Superannuation (Resolution of Complaints) Regulations 1994. 2 Commencement [see Note 1] These regulations commence on the commencement of the Superannuation (Resolution of Complaints) Act 1993. 3 Interpretation In these regulations: the Act means the Superannuation (Resolution of Complaints) Act 1993. 4A Exempt public sector superannuation schemes taken to be regulated super funds (Act, s 4A) An exempt public sector superannuation scheme specified in Schedule 1 is taken to be a regulated superannuation fund for the purposes of the Act. 4B Persons to be treated as beneficiaries, members etc (Act s 4B) (1) For subsection 4B (1) of the Act, the following persons are to be treated as members of regulated superannuation funds for the purposes of paragraph 14 (1) (a) and subparagraph 15 (1) (b) (i) of the Act: (a) a non-member spouse in relation to whom a splitting order under the Family Law Act 1975 has been made, from the day on which a copy of the order is served on the trustee; (b) a non-member spouse who is a party to a superannuation agreement under the Family Law Act 1975, from the day on which a copy of the agreement is served on the trustee; (c) a party to a marriage in relation to which an order of a kind referred to in Part VIIIAA of the Family Law Act 1975 has been made, if the order relates to a superannuation interest; (d) an eligible person within the meaning of section 90MZB of the Family Law Act 1975. (2) For subsection 4B (1) of the Act, the following persons are to be treated as beneficiaries of approved deposit funds for the purposes of paragraph 14 (1) (b) and subparagraph 15 (1) (b) (ii) of the Act: (a) a non-member spouse in relation to whom a splitting order under the Family Law Act 1975 has been made, from the day on which a copy of the order is served on the trustee; (b) a non-member spouse who is a party to a superannuation agreement under the Family Law Act 1975, from the day on which a copy of the agreement is served on the trustee; (c) a party to a marriage in relation to which an order of a kind referred to in Part VIIIAA of the Family Law Act 1975 has been made, if the order relates to a superannuation interest; (d) an eligible person within the meaning of section 90MZB of the Family Law Act 1975. (3) For subsection 4B (1) of the Act, the following persons are to be treated as holders of RSAs for the purposes of subsection 15F (1) and paragraph 15G (1) (b) of the Act: (a) a non-member spouse in relation to whom a splitting order under the Family Law Act 1975 has been made, from the day on which a copy of the order is served on the trustee; (b) a non-member spouse who is a party to a superannuation agreement under the Family Law Act 1975, from the day on which a copy of the agreement is served on the trustee; (c) a party to a marriage in relation to which an order of a kind referred to in Part VIIIAA of the Family Law Act 1975 has been made, if the order relates to a superannuation interest; (d) an eligible person within the meaning of section 90MZB of the Family Law Act 1975. 5 Payment of death benefits - period for objections and complaints For the purposes of paragraph 14 (3) (b), subparagraph 15 (2) (a) (ii), paragraph 15B (2) (b), subparagraph 15C (2) (a) (ii), paragraph 15F (2) (b), subparagraph 15G (2) (a) (ii), paragraph 15J (2) (b) and subparagraph 15K (2) (a) (ii) of the Act, the prescribed period is 28 days. 5A Statement of amount or amounts in respect of person's contributed amounts - period to make complaint For the purposes of subsection 15CA (2) of the Act, the prescribed period is 12 months. 6 Complaint-handling bodies For subsection 22A (1) of the Act, a body responsible for dealing with disputes under an external dispute resolution scheme that complies with paragraph 912A (2) (b) of the Corporations Act 2001 is prescribed. 7 Method of calculation of interest For the purposes of subparagraph 37A (3) (a) (iii), paragraph 37A (4) (c) and subparagraphs 37B (2) (a) (iii), 37D (3) (a) (iv), 37D (5) (a) (iv), 37F (3) (a) (iv) and 37F (5) (a) (iv) of the Act, interest on any: (a) money received under a life policy; or (b) money received in relation to a life policy fund; or (c) money received under an annuity policy; or (d) money received under an RSA; or (e) money received under a contract of insurance, the premiums for which are paid from an RSA; that is required by the Tribunal to be repaid is to be worked out in accordance with the formula: [pic] where: p is the amount of money received in a particular calendar month. n is the number of whole calendar months since the end of that calendar month to the date of the repayment; and i is 0.05 ( 12, worked out to 5 decimal places. Schedule 1 Exempt Public Sector Superannuation Schemes taken to be regulated superannuation funds (regulation 4A) 1. QUEENSLAND 1.1 Parliamentary Contributory Superannuation Fund 1.2 State Public Sector Superannuation Scheme (Q Super) 2. WESTERN AUSTRALIA 2.1 Schemes established by or under the State Superannuation Act 2000, including the schemes continued by section 29 of that Act. 3. SOUTH AUSTRALIA 3.1 SA Metropolitan Fire Service Superannuation Scheme 3.2 Electricity Industry Superannuation Scheme Schedule 2 Complaint-handling bodies (regulation 6) |Item |Complaint handling body | |1 |Australian Association of Permanent Building | | |Societies Inc | |2 |Australian Banking Industry Ombudsman Limited | |3 |Credit Union Dispute Resolution Centre | |4 |Financial Industry Complaints Service Limited | |5 |Insurance Brokers Dispute Facility | |6 |Insurance Enquiries and Complaints Limited | Notes to the Superannuation (Resolution of Complaints) Regulations 1994 Note 1 The Superannuation (Resolution of Complaints) Regulations 1994 (in force under the Superannuation (Resolution of Complaints) Act 1993) as shown in this compilation comprise Statutory Rules 1994 No. 56 amended as indicated in the Tables below. Under the Legislative Instruments Act 2003, which came into force on 1 January 2005, it is a requirement for all non-exempt legislative instruments to be registered on the Federal Register of Legislative Instruments. From 1 January 2005 the Statutory Rules series ceased to exist and was replaced with Select Legislative Instruments (SLI series). Numbering conventions remain the same, ie Year and Number. Table of Instruments |Year and |Date of |Date of |Application,| |number |notification|commencement |saving or | | | | |transitional| | |in Gazette | |provisions | | |or FRLI | | | | |registration| | | |1994 No. 56 |11 Mar 1994 |1 July 1994 (a) | | |1994 No. 374|1 Nov 1994 |1 Nov 1994 |- | |1995 No. 77 |21 Apr 1995 |21 Apr 1995 |- | |1995 No. 318|26 Oct 1995 |1 Nov 1995 |- | |1995 No. 429|22 Dec 1995 |22 Dec 1995 |- | |1996 No. 151|12 July 1996|12 July 1996 |- | |1996 No. 306|18 Dec 1996 |3 Feb 1997 |- | |1997 No. 9 |12 Feb 1997 |14 Feb 1997 |- | |1997 No. 115|21 May 1997 |1 June 1997 |- | |1997 No. 118|29 May 1997 |2 June 1997: (see|- | | | |r. 1 and Gazette | | | | |1997, No. S202) | | |1997 No. 307|5 Nov 1997 |5 Nov 1997 |- | |1998 No. 84 |5 May 1998 |5 May 1998 |- | |2001 No. 38 |1 Mar 2001 |1 Mar 2001 |- | |2005 No. 336|19 Dec 2005 |20 Dec 2005 |- | | |(see | | | | |F2005L03988)| | | |2005 No. 337|19 Dec 2005 |20 Dec 2005 |- | | |(see | | | | |F2005L03891)| | | |2006 No. 369|14 Dec 2006 |15 Dec 2006 |- | | |(see | | | | |F2006L04019)| | | |2008 No. 95 |2 June 2008 |3 June 2008 |- | | |(see | | | | |F2008L01741)| | | (a) Regulation 4 of Statutory Rules 1994 No. 56 was disallowed by the Senate on 29 August 1994. Table of Amendments |ad. = added or inserted am. = amended rep. = | |repealed rs. = repealed and substituted | |Provision affected|How affected | |R. 1 |rs. 2001 No. 38 | |R. 3 |am. 1995 No. 318; 1997 No. 118 | |R. 4 |ad. 1994 No. 374 | | |am. 1995 No. 77 | | |rs. 1995 No. 318 | | |rep. 1997 No. 118 | |R. 4A |ad. 1996 No. 306 | |R. 4B |ad. 2005 No. 337 | |R. 5 |rs. 1995 No. 429 | | |am. 1997 No. 118 | |R. 5A |ad. 1997 No. 307 | |R. 6 |ad. 1995 No. 429 | | |am. 1996 No. 306 | | |rs. 2008 No. 95 | |R. 7 |ad. 1996 No. 151 | | |am. 1997 No. 118 | |Schedule 1 | | |Schedule 1 |ad. 1996 No. 306 | | |rs. 1997 No. 9 | | |am. 1997 No. 115; 1998 No. 84; 2005 | | |No. 336; 2006 No. 369; 2008 No. 95 | |Heading to |rep. 1996 No. 306 | |Schedule | | |Schedule 2 | | |Heading to |ad. 1996 No. 306 | |Schedule 2 | | |Schedule |ad. 1995 No. 429 | |Schedule 2 |am. 1997 No. 118 | | |rs. 2001 No. 38 |