OCCUPATIONAL SUPERANNUATION STANDARDS REGULATIONS (AMENDMENT) 1993 NO. 33 

OCCUPATIONAL SUPERANNUATION STANDARDS REGULATIONS (AMENDMENT) 1993 NO. 33 
- TABLE OF PROVISIONS

1.  Amendment  
2.  New regulation 5AAA  


1993 No. 33 OCCUPATIONAL SUPERANNUATION STANDARDS REGULATIONS (AMENDMENT) -
REG 1
1. Amendment


  1.1 The Occupational Superannuation Standards Regulations are amended as set
out in these Regulations.
(NOTE: These Regulations commence on gazettal: see Acts Interpretation Act
1901, s.48.)


1993 No. 33 OCCUPATIONAL SUPERANNUATION STANDARDS REGULATIONS (AMENDMENT) -
REG 2
2. New regulation 5AAA


  2.1 Before regulation 5AA, insert in Division 1 of Part II:
Standards: superannuation fund not to invite contributions, etc., unless
prospectus filed
  "5AAA. (1) For the purposes of subsection 7(1) of the Act, the standard in
subregulation (3) is prescribed.
  "(2) In this regulation:
  'applied provisions' means the following provisions of the Corporations
Law:
  (a) section 1017;
  (b) section 1020;
  (c) subsections 1021 (1), (2), (3), (4), (5), (6), (6A), (13), (13A) and
(14);
  (d) section 1022;
  (e) section 1022A;
  (f) section 1024 (other than subsection (7));
  (g) section 1029;
  (h) section 1029A;
  (i) section 1030;
  (j) section 1032;
  (k) section 1033.
  "(3) A person:
  (a) must not invite persons to become members of a superannuation fund; or
  (b) must not invite persons to begin making contributions to a
superannuation fund in respect of new members;
unless there is lodged with the Commissioner in relation to that
superannuation fund a prospectus that would comply with the applied provisions
if it were registered with the Australian Securities Commission under section
1020A of the Corporations Law.
  "(4) Subject to subregulation (5), terms used in the applied provisions that
are defined in the Corporations Law have, for the purposes of the application
of the applied provisions under subregulation (3), the same meanings as they
have in the Corporations Law.
  "(5) In the application of the applied provisions under subregulation (3), a
reference in the applied provisions to:
  (a) the Commission is taken to be a reference to the Commissioner;
 and
  (b) securities of a corporation is taken to be a reference to the interest
of a member in a superannuation fund; and
  (c) the allotment or sale of securities of a corporation is taken to
 be a reference to a person becoming a member of the superannuation fund; and
  (d) a reference to a buyer is taken to be a reference to a person who
becomes a member of the superannuation fund.".


- NOTES


1993 No. 33*1* OCCUPATIONAL SUPERANNUATION STANDARDS REGULATIONS*2*
(AMENDMENT)



*1* Notified in the Commonwealth of Australia Gazette on 24 February 1993.
*2* Statutory Rules 1987 No. 322 as amended by 1988 No. 255 (as amended by
1989 No. 281); 1989 Nos. 24, 281 and 356; 1990 Nos. 149, 150, 185, 202 and
275; 1991 Nos. 16, 58, 148, 150, 155 and 458; 1992 Nos. 192, 218, 223, 224,
387 and 463; 1993 No. 14.