Document ID: chunk:federal_register_of_legislation:F2019L00646:body:0:p8
Version: federal_register_of_legislation:F2019L00646
Segment Type: other
Provision Reference: 
Character Range: 18943–21787

16T of the Act, the friendly society must give written notice to its members in accordance with the requirements set out in paragraphs 51 and 52.

    42.  For the purposes of paragraph 41, notice is not required where:

       (a)          the approved benefit fund rules have been amended by a special resolution of the members in accordance with paragraph 34(a); or

       (b)          the amendment of the approved benefit fund rules is as a result of a restructure pursuant to section 52 of the Act or a termination pursuant to section 53 of the Act in which case notice must be given in accordance the applicable requirements in this Prudential Standard for restructures and terminations.

Approval of amendment of approved benefit fund rules as required by APRA
    43.  APRA may require a friendly society to amend approved benefit fund rules, subject to the requirements set out in section 16R of the Act and in this Prudential Standard.

    44.  Where the amendment of approved benefit fund rules has been determined by APRA under subsection 16R(4) of the Act and has come into force under section 16T of the Act, the friendly society must give written notice to its members in accordance with the requirements set out in paragraphs 51 and 52.

Approval of consequential amendments of a friendly society's constitution on initiative of friendly society
    45.  On application by a friendly society, consequential amendments of a friendly society's constitution may be approved by APRA subject to the requirements set out under section 16U of the Act and in this Prudential Standard.

    46.  An application for APRA's approval of consequential amendments of a friendly society's constitution made under subsection 16U(1) of the Act must be made using 'Form 3' in this Prudential Standard.

    47.  After consequential amendments of a friendly society's constitution have been approved by APRA under subsection 16U(3) of the Act and have come into force under section 16X of the Act, the friendly society must give written notice to its members in accordance with the requirements set out in paragraphs 51 and 52.

Approval of consequential amendments of a friendly society's constitution as required by APRA
    48.  APRA may require consequential amendments to be made to a friendly society's constitution after adoption or amendment of benefit fund rules subject to the requirements set out in section 16V of the Act and in this Prudential Standard.

    49.  An application for APRA's approval of consequential amendments of a friendly society's constitution as required by APRA which is made under subsection 16V(3) of the Act must be made using 'Form 4' in this Prudential Standard.

    50.  After consequential amendments of a friendly society's constitution as required by APRA have been approved by APRA under