Document ID: chunk:federal_register_of_legislation:F2025C00069:reg:3:p9
Version: federal_register_of_legislation:F2025C00069
Segment Type: reg
Provision Reference: reg 3 (pt 9/71)
Character Range: 415537–418312

have been received by the trustee.
Note: Regulation 7.08 provides an operating standard for the allocation of contributions to which this regulation and subregulation 7.07G(4) do not apply.

Subdivision 7.2.2—Operating standards

7.07J  Application
 (1) This regulation is made for subitem 20(6) of Part 4 of Schedule 1 to the Superannuation Legislation Amendment (Stronger Super) Act 2012 (the amending Act).
 (2) Regulations 7.07 and 7.08, as in force immediately before 1 July 2013, apply in relation to contributions made by a medium to large employer before 1 July 2014.
 (3) Regulations 7.07 and 7.08, as in force immediately before 1 July 2013, apply in relation to contributions made by a small employer before 1 July 2015.
 (4) In this regulation:
medium to large employer has the meaning given by subitem 20(4) of Part 4 of Schedule 1 to the amending Act.
small employer has the meaning given by subitem 20(4) of Part 4 of Schedule 1 to the amending Act.

7.08  Contributions to be allocated to members
 (1) This regulation applies to the trustee of a regulated superannuation fund if:
 (a) the trustee receives a contribution in a month; and
 (b) regulation 7.07H and subregulation 7.07G(4) do not apply to the trustee in relation to the contribution; and
 (c) the trustee is not required to allocate the contribution in accordance with regulation 7.11.
 (2) For subsection 31(1) of the Act, the trustee must allocate the contribution to a member of the fund:
 (a) not later than 28 days after the end of the month; or
 (b) if it is not reasonably practicable to allocate the contribution to the member of the fund not later than 28 days after the end of the month—within such longer period as is reasonable in the circumstances.

Division 7.3—Contributions to be allocated to members—certain other regulated superannuation funds

7.09  Application of Division 7.3
  This Division applies in relation to a regulated superannuation fund to which section 291‑170.03 of the Income Tax Assessment (1997 Act) Regulations 2021 applies.

7.10  Operating standard
  For subsection 31(1) of the Act, a requirement set out in this Division is a standard applicable to the operation of regulated superannuation funds in relation to which this Division applies.

7.11  Contributions to be allocated to members
  If the trustee of the fund receives a contribution in a month, the trustee must allocate the contribution:
 (a) to a member of the fund:
 (i) within 28 days after the end of the month; or
 (ii) if it is not reasonably practicable to comply with subparagraph (i)—within a longer period that is reasonable in the circumstances; and
 (b) having regard to the present and prospective liabilities of the fund to its members.

Part 7A—Superannuation interests subject to