Document ID: chunk:federal_register_of_legislation:F2024C01249:clause:10a_1013l:p6
Version: federal_register_of_legislation:F2024C01249
Segment Type: clause
Provision Reference: sch 10A cl 1013L (pt 6/17)
Character Range: 2232963–2235501

(iii) the circumstances in which the benefits to which the holder of the relevant financial product may become entitled would become payable;
 (b) a change to the terms and conditions of an RSA (other than a change that gives effect to a payment split) of a kind that has an adverse effect on:
 (i) the amount of the RSA; or
 (ii) the benefits to which the RSA holder may become entitled; or
 (iii) the circumstances in which the benefits to which the RSA holder may become entitled would become payable;
 (c) any other change in relation to an RSA, caused by any other act carried out or consented to by the issuer, of a kind that has an adverse effect on:
 (i) the amount of the RSA; or
 (ii) the benefits to which the RSA holder may become entitled; or
 (iii) the circumstances in which the benefits to which the RSA holder may become entitled would become payable.

Notice of non‑compliance
 (5C) If the issuer of a superannuation product receives a notice of non‑compliance, the issuer must give to each product holder:
 (a) a statement of the circumstances (including details of the non‑compliance) that gave rise to the issue of the notice; and
 (b) a statement of the effect on the fund of the issue of the notice (including details of the effect on the entity's taxation position); and
 (c) details of action that the issuer has taken, or proposes to take, to have the entity become a complying fund or a pooled superannuation trust for the purposes of Division 2 of Part 5 of the Act.
 (5D) For subsection (5C), a notice of non‑compliance means a notice issued under section 40 of the SIS Act to the trustee of a fund stating that the fund is not a complying fund or a pooled superannuation trust.

Fund and RSA transfers
 (5E) For subsections (5), (6) and (7), a reference to an event includes:
 (a) in relation to a superannuation product:
 (i) the transfer of a member to a different category of membership or to a different fund; and
 (ii) the transfer of the benefits of a member to an RSA or exempt public sector superannuation scheme (otherwise than under a payment split); and
 (b) in relation to an RSA—the transfer of an amount of an RSA (otherwise than under a payment split) to:
 (i) another RSA offered by an RSA issuer; or
 (ii) a superannuation entity; or
 (iii) an exempt public sector superannuation scheme.

10.2  After subsection 1017B(9)
insert
 (10) This section does not apply to a change or event in relation to a superannuation product or an RSA that relates to a payment split in respect of the product.