Document ID: chunk:federal_register_of_legislation:F2021C00357:schedule:6:p2
Version: federal_register_of_legislation:F2021C00357
Segment Type: schedule
Provision Reference: sch 6 (pt 2/2)
Character Range: 11961–14428

terms. Full details of any changes can be obtained from the Office of Parliamentary Counsel.

The editorial change amendments can be given effect as intended and incorporated into the compiled law and the abbreviation "ed" will be added to the details of the amendment in the Table of Amendments.

In preparing this compilation for registration, the following kinds of editorial change(s) were made under the Legislation Act 2003.

Paragraph 4(a)

Kind of editorial change

Show the effect of an amendment of the instrument

Details of editorial change

Section 5 of the Superannuation Data and Payment Standards (Release Authorities, and SMSF Rollovers) Amendment 2021 provides, in part, as follows:

Clause 4

Omit subclause 4(a)

Insert: trustees of APRA-regulated superannuation entities;

The substituted paragraph does not contain a reference to the paragraph lettering.

This compilation was editorially changed to show the effect of an amendment of the instrument by inserting "(a)" at the beginning of the paragraph.

Clause 6

Kind of editorial change

Give effect to the misdescribed amendment as intended

Details of editorial change

Section 5 of the Superannuation Data and Payment Standards (Release Authorities, and SMSF Rollovers) Amendment 2021 provides, in part, as follows:

Clause 6

Omit:

       This Standard does not apply to an APRA-regulated superannuation entity in relation to a closed product.

       Closed product for the purposes of clause 6, means a product that does not receive any contributions or rollovers, whether from an existing member or any other person, but that may rollover or transfer a member's withdrawal benefit to another superannuation entity.

However, there is no comma following "clause 6" in the definition of closed product in clause 6.

This compilation was editorially changed to omit the text in clause 6 to give effect to the misdescribed amendment as intended.

[1] Subsection 34K(3) of the Superannuation Industry (Supervision) Act 1993.
[2] As defined in subsections 34K(5) and (6) of the Superannuation Industry (Supervision) Act 1993.
[3] See subsection 34K(3) of the Superannuation Industry (Supervision) Act 1993 and Divisions 6.5 and 7.2 of the Superannuation Industry (Supervision) Regulations 1994.
[4] See also paragraph 34M(1)(b) of the Superannuation Industry (Supervision) Act 1993.
[5] See also paragraph 34N(1)(b) of the Superannuation Industry (Supervision) Act 1993.