Commonwealth Consolidated Regulations

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Attribution of accrued default amount to MySuper product--modification of significant event notice requirements

                   If a person:

                     (a)  is an RSE licensee within the meaning of the Superannuation Industry (Supervision) Act 1993 ; and

                     (b)  is exempted under subregulation 9.46(2) of the Superannuation Industry (Supervision) Regulations 1994 from notice requirements in relation to the attribution or transfer of an accrued default amount;

then, for paragraph 1020G(1)(c) of the Act, section 1017B of the Act applies to the person as if subsection 1017B(4) were omitted and the following subsection were substituted:

             (4)  The notice must mention the following:

                     (a)  the accrued default amount that was attributed or transferred;

                     (b)  the name of the MySuper product to which the amount was attributed or transferred;

                     (c)  how the member may obtain a product disclosure statement for the MySuper product;

                     (d)  any other information that the member needs to understand the attribution or transfer.

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