Document ID: chunk:federal_register_of_legislation:F2023C00836:reg:4:p3
Version: federal_register_of_legislation:F2023C00836
Segment Type: reg
Provision Reference: reg 4 (pt 3/4)
Character Range: 19114–22298

988A document how and why a decision to allow or refuse a hardship withdrawal request was made, including in relation to any discretion:
                  (a) to allow or refuse the hardship withdrawal request; or
                  (b) to allow the hardship withdrawal request in whole or in part.
               Information to be provided to ASIC
              (3)          The responsible entity must for each quarter from the date it gives notice to ASIC under paragraph 601KEB(2)(a) and for so long as the scheme is a frozen scheme for some or all of a quarter, provide ASIC with an electronic spreadsheet that includes the following information for the scheme within 14 days after the end of the quarter:
                  Note: ASIC Information Sheet 249 Frozen funds – Information for responsible entities (INFO 249) contains a link to a template spreadsheet provided for this purpose. INFO 249 is available from ASIC's website.

                  (a)        the total value of the scheme property as at the end of the quarter;

                  (b) the number of members of the scheme as at the end of the quarter;
(c) the number and total value of hardship withdrawal requests received for the scheme in that quarter;
 (d) for each hardship category:
                     (i) the number of hardship withdrawal requests accepted in full in that quarter and the total value of those hardship withdrawal requests; and
                     (ii) the number of hardship withdrawal requests accepted in part in that quarter and:
                         (A) the total value in respect of which those hardship withdrawal requests were accepted; and
                         (B) the total value in respect of which those hardship withdrawal requests were rejected; and
                     (iii) the number of hardship withdrawal requests rejected in full in that quarter and the total value of those hardship withdrawal requests;
                     Note: Where a responsible entity accepts or rejects a hardship withdrawals request under two or more hardship categories, the responsible entity should identify the primary hardship category for reporting purposes.
(e) across all hardship categories:
                     (i) the total number of hardship withdrawal requests accepted in full for that quarter and the total value of those hardship withdrawal requests; and
                     (ii) the total number of hardship withdrawal requests accepted in part in that quarter and:
                         (A) the total value in respect of which those hardship withdrawal requests were accepted; and
                         (B) the total value in respect of which those hardship withdrawal requests were rejected; and
                     (iii) the total number of hardship withdrawal requests rejected in full in that quarter and the total value of those hardship withdrawal requests;
(f) the number of complaints in relation to hardship withdrawals that were received in that quarter.
                     Note: Complaints in relation to hardship withdrawals include complaints about changes to the scheme's constitution to facilitate hardship withdrawals and the time taken