Document ID: chunk:federal_register_of_legislation:C2007A00009:clause:4_15:p4
Version: federal_register_of_legislation:C2007A00009
Segment Type: clause
Provision Reference: sch 4 cl 15 (pt 4/5)
Character Range: 344838–347746

provides an administrative penalty for breach of this subsection.

Note 2: Section 388‑55 allows the Commissioner to defer the time for giving an approved form.

 (3) Subsection (2) does not apply if the *superannuation provider has given the same information to the individual or the trustee previously (whether or not on request by the individual or trustee).

 (4) If the individual or the trustee does not ask for the information to be given in writing, the *superannuation provider may give the information to the individual or trustee in a way that the provider considers appropriate.

Subdivision 390‑B—Statements relating to release authorities

390‑65  Statements relating to release authorities

 (1) A *superannuation provider in relation to a *superannuation plan must give the Commissioner a statement under this section if the superannuation provider has:
 (a) been given a release authority in accordance with section 292‑410 of the Income Tax Assessment Act 1997 or section 292‑80B of the Income Tax (Transitional Provisions) Act 1997; and
 (b) paid an amount out of the plan in accordance with the release authority.

Note: Section 286‑75 provides an administrative penalty for breach of this subsection.

 (2) The statement must be given within 30 days after the amount is paid out of the plan.

 (3) A statement under subsection (1) must be in the *approved form.

Note: Section 388‑55 allows the Commissioner to defer the time for giving an approved form.

 (4) The *approved form must require the statement to contain information relating to the release authority.

 (5) The *approved form may require the statement to contain the following information:
 (a) the amount paid;
 (b) details relating to the *superannuation provider in relation to the *superannuation plan;
 (c) the individual in respect of whom the release authority was given to the superannuation provider.

 (6) Subsection (5) does not limit the information that the *approved form may require the statement to contain.

 (7) The *superannuation provider must also give the individual to whom the release authority relates a copy of the statement within 30 days after the amount is paid out of the plan.

Note: Section 286‑75 provides an administrative penalty for breach of this subsection.

Subdivision 390‑C—Other statements

390‑115  Change or omission in information given to the Commissioner

 (1) If a *superannuation provider in relation to a *superannuation plan becomes aware of a material change or material omission in any information given to the Commissioner in relation to the plan under this Division, the provider must:
 (a) tell the Commissioner of the change in the *approved form; or
 (b) give the omitted information to the Commissioner in the approved form.

Note: Section 286‑75 provides an administrative penalty for breach of this subsection.

 (2) Information required by subsection (1) must