Document ID: chunk:federal_register_of_legislation:F2015L01519:body:0:p2
Version: federal_register_of_legislation:F2015L01519
Segment Type: other
Provision Reference: 
Character Range: 2987–6208

service provisions may be contained in one of the documents mentioned in subparagraphs (i) to (iv) while others may be contained in another of those documents.

              (c) The forfeited member failed to satisfy the minimum service requirement contained in the applicable minimum service provisions.

              (d) As a result of that failure, the forfeited member lost their entitlement to the amount.

              (e) Either:

                (i)  the applicable minimum service provisions applied to the forfeited member during the whole of the period (the post-11 May 2004 period) from 11 May 2004 to the occurrence of the forfeiting event; or

                (ii)  the applicable minimum service provisions applied to the forfeited member during the latter part of the post-11 May 2004 period and predecessor minimum service provisions applied to the member during the rest of the post-11 May 2004 period.

              (f) If subparagraph (e)(i) applies - the trustee of the forfeiting fund is satisfied, on reasonable grounds, that the applicable minimum service provisions are not more unfavourable to the forfeited member than the predecessor minimum service provisions.

                      Note: An example of the applicable minimum service provisions being more unfavourable to the forfeited member than the predecessor minimum service provisions is where the predecessor minimum service provisions specify a minimum service period of 10 years, while the applicable minimum service provisions specify a minimum service period of 12 years.

              (g) If any of the applicable minimum service provisions are contained in the governing rules of the forfeiting fund - the trustee of the forfeiting fund believes, on reasonable grounds, that the provisions, or their effect, were disclosed to the forfeited member in accordance with applicable disclosure requirements imposed by or under the Act or the Corporations Act 2001.

              (h) The contributions mentioned in paragraph (a) were required to be made by:

                (i)  the applicable minimum service provisions; or

                (ii)  predecessor minimum service provisions.

                   Note 1: Note the use of the term required in paragraph (h). If, under the applicable minimum service provisions or predecessor minimum service provisions, the employer merely has a discretion to make non-mandated employer contributions to the fund for the benefit of the forfeited member, but is not obliged to make the contributions, the exception in subregulation (2A) will not apply to the minimum benefits financed by such discretionary contributions.

                   Note 2: If a member loses their entitlement to an amount of benefits in the manner described in subregulation (2A), the amount cannot be paid out to the employer unless the payment complies with section 117 of the Act.

          Interpretation

           (2B) In this regulation:

           Act means the Superannuation Industry (Supervision) Act 1993.

           applicable minimum service provisions has the meaning given in subregulation (2A).

           award means an award relating to conditions of employment which