Commonwealth Consolidated Regulations

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Issue of a new interest in a superannuation fund

             (1)  This regulation applies if a member of a superannuation fund, who has a superannuation interest in the growth phase, elects to receive a pension in relation to that interest or part of that interest.

             (2)  For paragraph 761E(7)(a) of the Act, the superannuation fund is taken to issue a new financial product when:

                     (a)  it acknowledges receipt of the member's election; or

                     (b)  it makes the first payment of the pension;

whichever occurs first.

             (3)  For this regulation:

"growth phase" has the meaning given by regulation 1.03AB of the SIS Regulations.

"pension" has the meaning given by subregulation 1.06(1) of the SIS Regulations.

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