Commonwealth Consolidated Regulations

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CORPORATIONS REGULATIONS 2001 - REG 7.1.04E

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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