Document ID: chunk:federal_register_of_legislation:C2025C00180:clause:1_3:p4
Version: federal_register_of_legislation:C2025C00180
Segment Type: clause
Provision Reference: sch 1 cl 3 (pt 4/17)
Character Range: 1766862–1769864

correct the statement:
 (a) within the period determined by the Commissioner under subsection (2) of this section; or
 (b) if paragraph (a) does not apply but the superannuation provider is covered by a determination under subsection (5)—within the period specified in that determination.
Note 1: Correcting the statement can protect the superannuation provider from liability for a false or misleading statement: see subsections 8K(2B), 8N(3) and 284‑75(9).
Note 2: If no period has been determined under subsection (2) or (5) in relation to a superannuation provider, the superannuation provider will not be able to take advantage of the grace period provided for by this section.

Determinations for particular superannuation providers
 (2) The Commissioner may determine the period within which the *superannuation provider may correct a statement.
 (3) The Commissioner must give the *superannuation provider written notice of the determination.
 (4) The *superannuation provider may object, in the manner set out in Part IVC, against a decision of the Commissioner determining a period under subsection (2) relating to the superannuation provider.

Determinations for classes of superannuation providers
 (5) The Commissioner may, by legislative instrument, determine the period within which *superannuation providers included in a class of superannuation providers specified in the determination may correct a statement.

390‑10  Statements about roll‑over superannuation benefits etc.
 (1) This section applies if:
 (a) a *superannuation provider (the first provider) in relation to a *superannuation plan (the first plan) pays a *roll‑over superannuation benefit to another superannuation provider in relation to another superannuation plan; or
 (b) a superannuation provider (also the first provider) in relation to a superannuation plan (also the first plan) pays to another superannuation provider in relation to another superannuation plan a *superannuation benefit (other than a roll‑over superannuation benefit) in these circumstances:
 (i) the first plan or the other superannuation plan is, or both are, a *non‑complying superannuation plan for the income year in which the benefit is paid; or
 (ii) the first plan or the other superannuation plan was, or both were, a non‑complying superannuation plan for the previous income year.
 (2) The first provider in relation to the first plan must:
 (a) give the other superannuation provider a statement in relation to the benefit within 7 days after the day on which the benefit is paid; and
 (b) unless the benefit is an *involuntary roll‑over superannuation benefit, give the individual in respect of whom the benefit is paid a statement in relation to the benefit within 30 days after the day on which the benefit is paid.
Note: Section 286‑75 provides an administrative penalty for breach of this subsection.
 (3) A statement under subsection (2) must be in the *approved form.
Note: Section 388‑55 allows the Commissioner to defer the