Document ID: chunk:federal_register_of_legislation:F2025C00069:reg:3:p54
Version: federal_register_of_legislation:F2025C00069
Segment Type: reg
Provision Reference: reg 3 (pt 54/66)
Character Range: 363480–366253

information and documents mentioned in subsections 1017C(3) and (5). See also regulations 7.9.02, 7.9.45, and 7.9.47 of the Corporations Regulations 2001.

6.34A  Timeframes for rollovers and transfers
 (1) This regulation applies if a trustee of a transferring fund is required to rollover or transfer an amount to a receiving fund under regulation 6.34.

Timeframe—standard
 (2) Subject to subregulations (3) to (6), a trustee required to roll over or transfer an amount under subregulation 6.34(2) must do so as soon as practicable, but in any case not later than 3 business days after:
 (a) the trustee received the rollover or transfer request; or
 (b) if the trustee seeks further information under regulation 6.33C or subregulation 6.33D(4) or 6.33E(3)—the date the trustee receives the information; or
 (c) if there is a suspension or variation under regulation 6.36 or 6.37—the end of the period of the suspension or variation.

Timeframe—non‑standard
 (3) If the receiving fund is unable to receive the rollover or transfer in accordance with any applicable Standards made under subsection 34K(3) of the Act or subsection 45B(3) of the RSA Act, the trustee is required, subject to subregulations (4) to (6), to rollover or transfer the amount as soon as practicable, but in any case not later than 30 days after:
 (a) the trustee received the rollover or transfer request; or
 (b) if the trustee seeks further information under regulation 6.33C or subregulation 6.33D(4) or 6.33E(3)—the date the trustee receives the information; or
 (c) if there is a suspension or variation under regulation 6.36 or 6.37—the end of the period of the suspension or variation.
 (4) If a member makes an investment choice between 1 July 2007 and 30 June 2013 under regulation 4.02, or after 1 July 2013 under regulation 4.02A or 4.02AA:
 (a) the trustee is not required to rollover or transfer the amount within the period mentioned in subregulation (2) if:
 (i) the trustee takes steps to redeem the investment as soon as practicable but in any case not later than 3 business days; and
 (ii) the rollover or transfer is made as soon as practicable, and in any event not later than 3 business days, after the trustee receives the proceeds of the redemption; but
 (b) the trustee must rollover or transfer the amount as soon as practicable and in any case not later than 30 days after:
 (i) the trustee received the request; or
 (ii) if the trustee seeks further information under regulation 6.33C, or subregulation 6.33D(4) or 6.33E(3)—the time the trustee receives the information; or
 (iii) if there is a suspension or variation under regulation 6.36 or 6.37—the end of the period of the suspension or variation.

Timeframe—illiquid investments
 (5) For an investment made before