Document ID: chunk:federal_register_of_legislation:F2025C00069:reg:8:p14
Version: federal_register_of_legislation:F2025C00069
Segment Type: reg
Provision Reference: reg 8 (pt 14/41)
Character Range: 666999–669736

liability in respect of benefits to be transferred to the transferee fund, being benefits accrued before 1 July 1988; and
 (b) the amount of any pre‑1 July 88 funding credits available in the transferor fund immediately before the transfer.
 (4) As soon as practicable after a decision is made by APRA to approve a transfer, APRA must give notice in writing of the approval to the trustees of both the transferee fund and the transferor fund.

12.14  Transfer of PJFCs—revocation of approval
  APRA may revoke an approval given under regulation 12.12 or 12.13 only if:
 (a) information about matters relating to the application for approval that was not available to APRA when APRA made the decision to approve the application becomes available to APRA; and
 (b) after considering that information, APRA is satisfied that:
 (i) a requirement specified in regulation 12.15 (other than a requirement that does not need to be satisfied under paragraph 12.12(2)(b) or 12.13(2)(b)) was not satisfied in relation to the transfer; or
 (ii) in the case of a requirement that, under paragraph 12.12(2)(b) or 12.13(2)(b), does not need to be satisfied—there were no special circumstances to justify the application of that paragraph.

12.15  Transfer of PJFCs—requirements to be satisfied
  The requirements referred to in paragraph 12.12(2)(a) and 12.13(2)(a) are that:
 (a) a superannuation actuary certifies that the amount of the PJFC to be transferred is reasonable having regard to:
 (i) the amount of unfunded liability to be transferred from the transferor fund; and
 (ii) the amount of the remaining unfunded liability of that fund;
  in relation to the amount of benefits that have accrued before 1 July 1988; and
 (b) the trustee of the transferor fund has been given notice by APRA of the grant of the PJFC under subsection 342(2) of the Act; and
 (c) at the date of the transfer the amount of the PJFC to be transferred is equal to or less than the amount of the pre‑1 July 88 funding credits available in the transferor fund; and
 (d) the transferee fund is a complying superannuation fund, in accordance with section 45 of the Act, in relation to the year of income in which the transfer is to take place; and
 (e) a superannuation actuary certifies that sufficient information is available about the accrued entitlements of members of the transferor fund as at 30 June 1988 to enable calculations to be made after that date to ascertain whether a prescribed event has occurred.

12.19  Actuaries to certify in relation to determinations
  A superannuation actuary who makes a determination under this Part must certify that the determination:
 (a) is consistent with this Part; and
 (b) except to the extent (if any) that this Part