Document ID: chunk:federal_register_of_legislation:C2019C00093:clause:1_29s:p1
Version: federal_register_of_legislation:C2019C00093
Segment Type: clause
Provision Reference: sch 1 cl 29S (pt 1/2)
Character Range: 7969–10627

29S  Application for authority to offer a MySuper product

Who may apply?
 (1) An RSE licensee may apply to APRA for authority to offer a class of beneficial interest in a regulated superannuation fund as a MySuper product.

Requirements for applications
 (2) An application for authority to offer a class of beneficial interest in a regulated superannuation fund as a MySuper product must:
 (a) be in the approved form; and
 (b) contain the information required by the approved form; and
 (c) state the RSE licensee's and the fund's ABNs; and
 (d) be accompanied by an up‑to‑date copy of the trust deed by which the fund is constituted (except to the extent that the trust deed is constituted by governing rules of the fund); and
 (e) be accompanied by an up‑to‑date copy of the governing rules of the fund (except to the extent that the governing rules are constituted by the law of the Commonwealth or by unwritten rules).

Notifying certain changes while applications are pending
 (3) If:
 (a) an RSE licensee applies for authority to offer a class of beneficial interest in a regulated superannuation fund as a MySuper product; and
 (b) after the application is made but before APRA decides the application, the trust deed (other than the governing rules of the fund) by which the fund is constituted is varied or revoked and replaced;
the RSE licensee must lodge an up‑to‑date copy of the trust deed with APRA as soon as practicable after the trust deed is varied or revoked and replaced.
 (4) If:
 (a) an RSE licensee applies for authority to offer a class of beneficial interest in a regulated superannuation fund as a MySuper product; and
 (b) after the application is made but before APRA decides the application, any governing rules of the fund (that are not constituted by the law of the Commonwealth or by unwritten rules) are varied or revoked and replaced;
the RSE licensee must lodge an up‑to‑date copy of the governing rules (that are not constituted by the law of the Commonwealth or by unwritten rules) with APRA as soon as practicable after the governing rules are varied or revoked and replaced.
 (5) If:
 (a) an RSE licensee applies for authority to offer a class of beneficial interest in a regulated superannuation fund as a MySuper product; and
 (b) after the application is made, but before APRA decides the application, information contained in the application ceases to be correct;
the RSE licensee must give APRA the correct information, in writing, as soon as practicable after the information in the application ceases to be correct.
 (6) An application is taken not to comply with this section if subsection (3), (4) or (5) is