Document ID: chunk:federal_register_of_legislation:F2024C01249:reg:1:p39
Version: federal_register_of_legislation:F2024C01249
Segment Type: reg
Provision Reference: reg 1 (pt 39/43)
Character Range: 1363060–1365737

of the Act, Part 7.9 of the Act is modified in its application in relation to a fund as set out in Part 12 of Schedule 10A.

7.9.52  General requirement
  For paragraph 1020G(2)(b) of the Act, subsections 1017D(2) and (4) of the Act are modified, in its application in relation to a person who ceases to hold a superannuation product or an RSA (other than a product issued by a capital guaranteed fund) by requiring the issuer of the product to give all information to:
 (a) if the person is alive—the person; or
 (b) if the person is deceased—each person receiving a benefit as a result of the person's death;
that the trustee reasonably believes such a person would reasonably need for the purpose of understanding his or her investment in the financial product.

7.9.53  Information on death of product holder
  For paragraph 1017D(5)(g) of the Act, if a person ceases by death to hold a superannuation product (other than an interest in a pooled superannuation trust) or an RSA, the periodic report given to each person receiving a benefit from the issuer of the product as a result of the person's death must include:
 (a) a statement setting out details (in summary form) of arrangements that the issuer has made to deal with inquiries and information about the dispute resolution system that covers complaints; or
 (b) a statement that the details are available on request.

7.9.54  Specific requirements in all cases
  For paragraph 1017D(5)(g) of the Act, if a reporting period is the exit reporting period, the issuer of a superannuation product (other than the trustee of a self managed superannuation fund or pooled superannuation trust) must include in the periodic report given to a person who ceases, otherwise than by death to hold the product:
 (a) the information mentioned in regulation 7.9.19; and
 (b) in relation to a death or disability benefit that ceases or reduces, because the person has ceased to hold the product:
 (i) either:
 (A) the amount of the death or disability benefit immediately before the person ceased to hold the product or at the end of the last reporting period; or
 (B) the method of working out the death or disability benefit; and
 (ii) whether a continuation option is available to the person and, if it is, details of the option, a contact person who is available to discuss the option and a telephone number for the contact person.

7.9.55  Specific requirements in particular cases
 (1) For paragraph 1017D(5)(g) of the Act, if a reporting period is the exit reporting period, the issuer of a superannuation product (other than the trustee of a self managed superannuation fund or pooled superannuation trust) must include in