Commonwealth Numbered Acts

SUPERANNUATION INDUSTRY (SUPERVISION) ACT 1993 No. 78, 1993 - SECT 31

31.(1) The regulations may prescribe standards applicable to the operation
of regulated superannuation funds ("funds").

(2) The standards that may be prescribed include, but are not limited to,
standards relating to the following matters:

   (a)  the persons who may contribute to funds;

   (b)  the vesting in beneficiaries in funds of benefits arising directly or
        indirectly from amounts contributed to the funds;

   (c)  the amount of contributions that a fund may accept;

   (d)  the circumstances in which a fund may accept contributions;

   (e)  the form in which benefits may be provided by funds;

   (f)  the actuarial standards that will apply to funds;

   (g)  the preservation of benefits arising directly or indirectly from
        amounts contributed to funds;

   (h)  the payment by funds of benefits arising directly or indirectly from
        amounts contributed to the funds;

   (i)  the portability of benefits arising directly or indirectly from
        amounts contributed to funds;

   (j)  the levels of benefits that may be provided by funds and the levels of
        assets that may be held by funds;

   (k)  the application by funds of money no longer required to meet payments
        of benefits to beneficiaries because the beneficiaries have ceased to
        be entitled to receive those benefits;

   (l)  the investment of assets of funds;

   (m)  the number of trustees, and the composition of boards or committees of
        trustees, of funds;

   (n)  the keeping and retention of records in relation to funds;

   (o)  the financial and actuarial reports to be prepared in relation to
        funds;

   (p)  the disclosure of information to beneficiaries in funds;

   (q)  the disclosure of information about funds to the Commissioner;

   (r)  the disclosure of information about funds to persons other than
        beneficiaries or the Commissioner;

   (s)  the financial position of funds;

   (t)  the funding and solvency of funds;

   (u)  the winding-up of funds.