Document ID: chunk:federal_register_of_legislation:F2024C01249:clause:10a_1013l:p3
Version: federal_register_of_legislation:F2024C01249
Segment Type: clause
Provision Reference: sch 10A cl 1013L (pt 3/17)
Character Range: 2225499–2228199

the member leaves and rejoins the fund.
 (16) In this section:
mandated employer‑financed benefits has the same meaning as in subregulation 5.01(1) of the Superannuation Industry (Supervision) Regulations 1994.
member protection standards has the same meaning as in the Superannuation Industry (Supervision) Regulations 1994.
protected member has the same meaning as in the Superannuation Industry (Supervision) Regulations 1994.
 (17) For the definition of protected member in subsection (16), a benefit in a fund is taken to contain or to have contained mandated employer‑financed benefits unless:
 (a) if the benefits arose in relation to contributions made before 1 July 1995—the trustee of the fund reasonably believes otherwise; or
 (b) if the benefits arose in relation to contributions made on or after 1 July 1995—the trustee of the fund knows otherwise.

Part 8—Modifications relating to periodic statements for RSA providers

8.1  After subsection 1017D(7)
insert
 (8) If:
 (a) a person ceases to be an RSA holder before RSA information in respect of a particular reporting period (the relevant period) is given; and
 (b) either:
 (i) the RSA provider gives, or intends to give, information to the person in respect of a reporting period that is the same as, or includes the whole of, the relevant period; or
 (ii) if the person ceases to be an RSA holder by reason of death—the RSA provider complies in relation to the person with the relevant requirements of this Act and the regulations;
the RSA provider need not give RSA information, in respect of the relevant period, to or in relation to the person.
 (9) If, at the end of a reporting period, an RSA holder is a protected RSA holder, the RSA provider need give the RSA holder only the following information for the reporting period:
 (a) the contact details of the RSA provider;
 (b) either:
 (i) the amount of the RSA holder's withdrawal benefit at the end of the reporting period; or
 (ii) the total of the amounts that have been received by the RSA provider in respect of the RSA holder;
 (c) the effective rate of net interest applied to the RSA for each year of the previous 5 years ending at the end of the reporting period;
 (d) the compound average of the annual effective rate of net interest applied to the RSA for each year of the previous 5 years ending at the end of the reporting period;
 (e) details (in summary form) of arrangements that the RSA provider has to deal with inquiries or complaints;
 (f) a statement that other information is available on request;
 (g) a suggestion that the RSA holder may wish to consider:
 (i) other superannuation arrangements that may provide a greater return over the long term;