Document ID: chunk:federal_register_of_legislation:C2004C01337:clause:1_133
Version: federal_register_of_legislation:C2004C01337
Segment Type: clause
Provision Reference: sch 1 cl 133
Character Range: 63629–65005

133  Transitional provision—no contravention of Act during transition period in certain circumstances

 (1) Despite the amendments made by this Schedule, a person does not contravene this Act or the regulations in respect of conduct engaged in by the person in relation to a superannuation fund if:
 (a) immediately before the later of:
 (i) the beginning of the transition period; and
 (ii) the day on which this Act received the Royal Assent;
  the superannuation fund was an excluded superannuation fund; and
 (b) the person engaged in the conduct during the transition period; and
 (c) the person engaged in the conduct at a time when the superannuation fund had fewer than 5 members, but was not a self managed superannuation fund; and
 (d) the person's engaging in the conduct would not have been a contravention of this Act or the regulations if the fund had been a self managed superannuation fund at the time the person engaged in the conduct.

 (2) In this item:

excluded superannuation fund has the meaning given by the Superannuation Industry (Supervision) Act 1993 as in force immediately before the commencement of this item.

transition period means the period:
 (a) beginning on 1 July 1999; and
 (b) ending at the end of 31 March 2000.

 (3) In this item, a reference to engaging in conduct includes a reference to failing or refusing to engage in conduct.