Commonwealth Consolidated Acts Commonwealth Consolidated ActsIn this Act, unless the contrary intention appears:
"ADI" (authorised deposit - taking institution) means a body corporate that is an ADI for the purposes of the Banking Act 1959 .
"annuity" has the same meaning as in the Superannuation Industry (Supervision) Act 1993 .
"approved auditor" means a person included in a class of persons specified in regulations made for the purposes of this definition, but does not include a person who is disqualified from being or acting as an auditor of all RSA providers under section 67.
"approved deposit fund" means a fund that is an approved deposit fund for the purposes of the Superannuation Industry (Supervision) Act 1993 .
"approved form" means a form approved by the Regulator, in writing, for the purposes of the provision in which the expression appears.
"APRA" means the Australian Prudential Regulation Authority.
"ASIC" means the Australian Securities and Investments Commission.
"associate" has the meaning given by section 18.
"Australian court" means:
(a) the High Court; or
(b) a court created by the Parliament; or
(c) a court of a State or Territory.
"authorised person" means a person authorised by the Regulator under section 129A for the purposes of the provision in which the expression occurs.
"books" includes:
(a) any record; or
(b) any accounts or accounting records, however compiled, recorded or stored; or
(c) a document.
"capital guaranteed" has the meaning given by section 14.
"constitutional corporation" means a body corporate that is:
(a) a trading corporation formed within the limits of the Commonwealth (within the meaning of paragraph 51(xx) of the Constitution); or
(b) a financial corporation formed within the limits of the Commonwealth (within the meaning of paragraph 51(xx) of the Constitution).
"contributing employer" means an employer having obligations under Part 4A (about the data and payment regulations and standards relating to RSAs).
"contribution" includes a deposit into an account held at an ADI or a prescribed financial institution and a payment of a premium to a life insurance company.
"court" means any court, when exercising jurisdiction under this Act.
"Court" means the Federal Court of Australia or the Supreme Court of a State or a Territory.
"data and payment matter relating to RSAs" has the meaning given by subsection 45B(5).
"data and payment regulations and standards relating to RSAs" means:
(a) the regulations made under section 45B; and
(b) the standards issued by the Commissioner of Taxation under that section.
"data and payment standard relating to RSAs" means a standard issued by the Commissioner of Taxation under section 45B.
"data processing device" means any article or material (for example, a disk) from which information is capable of being reproduced with or without the aid of any other article or device.
"dependant" has the meaning given by section 20.
"director" , in relation to a body corporate, has the same meaning as in the Corporations Act 2001 .
"disclose" , in relation to information, means give, reveal or communicate in any way.
"eligible person" has the meaning given by section 13.
"eligible superannuation entity" has the same meaning as in the Superannuation Industry (Supervision) Act 1993.
"employee" has the meaning given by section 19.
"employer" has the meaning given by section 19.
"executive officer" , in relation to a body corporate, means a person, by whatever name called and whether or not a director of the body, who is concerned, or takes part, in the management of the body.
"expert" , in relation to a matter, means a person whose profession or reputation gives authority to a statement made by him or her in relation to that matter.
"function" includes duty.
"half-year" means a period of 6 months ending on 30 June or 31 December.
"holder" has the meaning given by section 9.
"holds" has the meaning given by section 9.
"Income Tax Assessment Act" means the Income Tax Assessment Act 1936 .
"inspector" has the meaning given by section 96.
"interdependency relationship" has the meaning given by section 20A.
"investment" means any mode of application of money or other property for the purpose of gaining interest, income or profit.
"involved" , in relation to a contravention, has the meaning given by section 21.
"lawyer" means a duly qualified legal practitioner and, in relation to a person, means such a practitioner acting for the person.
"legal personal representative" means the executor of the will or administrator of the estate of a deceased person, the trustee of the estate of a person under a legal disability or a person who holds an enduring power of attorney granted by a person.
"life insurance company" means:
(a) a body corporate registered under section 21 of the Life Insurance Act 1995 ; or
(b) a public authority:
(i) that is constituted by a law of a State or Territory; and
(ii) that carries on life insurance business within the meaning of section 11 of that Act.
"member of the staff of APRA" has the same meaning as that given to the expression APRA staff member in section 3 of the Australian Prudential Regulation Authority Act 1998 .
"member of the staff of ASIC" has the same meaning as that given to the expression staff member in subsection 5(1) of the Australian Securities and Investments Commission Act 2001 .
"modifications" includes additions, omissions and substitutions.
"occurrence of an event" includes the coming into existence of a state of affairs.
"old-age pension" has the same meaning as in paragraph 51(xxiii) of the Constitution.
"owner" , in relation to a policy, has the same meaning as in the Life Insurance Act 1995 .
"pension" (except in the expression old-age pension ) means a benefit, if the benefit is taken, under the regulations, to be a pension for the purposes of this Act.
"person affected by a reviewable decision" , in relation to a reviewable decision, means the person in relation to which the decision was made.
"policy" has the same meaning as in the Life Insurance Act 1995 .
"premises" includes:
(a) a structure, building, aircraft, vehicle or vessel; and
(b) any land or place (whether enclosed or built on or not); and
(c) a part of a structure, building, aircraft, vehicle or vessel or of such a place.
"premium" means a premium in respect of a policy and includes an instalment of premium.
"prescribed" means prescribed by the regulations.
"prescribed financial institution" means a body prescribed by the regulations for the purposes of this definition.
"procure" includes cause.
"produce" includes permit access to.
"provide" has the meaning given by section 10.
"provider" has the meaning given by section 10.
"regulated document" , in relation to an RSA provider, means a document:
(a) issued, or authorised to be issued, by the RSA provider; and
(b) that the RSA provider knows, or ought reasonably to know (having regard to the RSA provider's abilities, experience, qualifications and other attributes), may influence a person's decision:
(i) to apply to become a holder of an RSA; or
(ii) to make an application, on behalf of an employee, for the employee to become the holder of an RSA.
"regulated exempt public sector superannuation scheme" means an exempt public sector superannuation scheme (within the meaning of the Superannuation Industry (Supervision) Act 1993 ) in respect of which either of the following applies:
(a) the trustee of the scheme is a constitutional corporation;
(b) the sole or primary purpose of the scheme is the provision of old - age pensions .
"regulated exempt public sector superannuation scheme" has the meaning given by Part 25A of the Superannuation Industry (Supervision) Act 1993 .
"regulated superannuation fund" means a fund that is a regulated superannuation fund for the purposes of the Superannuation Industry (Supervision) Act 1993 .
"Regulator" means:
(a) APRA if the provision in which it occurs is, or is being applied for the purposes of, a provision that is administered by APRA; and
(b) ASIC if the provision in which it occurs is, or is being applied for the purposes of, a provision that is administered by ASIC; and
(d) the Commissioner of Taxation, if the provision in which it occurs is, or is being applied for the purposes of, a provision that is administered by the Commissioner of Taxation.
"relevant person" in relation to bodies corporate, means:
(a) a responsible officer of the RSA provider; or
(b) an auditor of the RSA provider.
"responsible officer" , in relation to a body corporate, means:
(a) a director of the body; or
(b) a secretary of the body; or
(c) an executive officer of the body.
"retirement savings account" has the meaning given by section 8.
"reviewable decision" means:
(a) a decision of APRA under subsection 24(2) to treat an application as having been withdrawn; or
(b) a decision of APRA under subsection 26(2) refusing an application for approval; or
(c) a decision of APRA under subsection 26(4) to specify conditions in an instrument of approval; or
(d) a decision of APRA under subsection 28(4) to treat an application as having been withdrawn; or
(e) a decision of APRA under section 29 or 30 to vary the approval of an RSA institution; or
(f) a decision of APRA under section 29 to refuse to vary the approval of an RSA institution; or
(g) a decision of the Regulator to give or vary a direction under section 45F or 45G; or
(k) a decision of the Regulator under section 174 to make an exemption; or
(l) a decision of the Regulator under section 177 to make a declaration; or
(m) a decision of the Regulator under section 179 to revoke an exemption or declaration; or
(n) a decision of the Regulator to give a direction under section 182; or
(o) a decision of the Regulator refusing to revoke a direction under section 182.
"RSA" has the meaning given by section 8.
"RSA institution" has the meaning given by section 11.
"RSA provider" has the meaning given by section 12.
"statement" , in Parts 5 and 7, includes a promise, estimate or forecast.
"Superannuation Acts" means:
(a) this Act; and
(b) the Superannuation Contributions Tax (Assessment and Collection) Act 1997 ; and
(c) the Superannuation Contributions Tax (Members of Constitutionally Protected Funds) Assessment and Collection Act 1997 ; and
(d) the Superannuation (Unclaimed Money and Lost Members) Act 1999 .
"superannuation data and payment regulations and standards" has the same meaning as in the Superannuation Industry (Supervision) Act 1993 .
"superannuation entity" means:
(a) a regulated superannuation fund; or
(b) an approved deposit fund.
"superannuation interest" has the same meaning as in the Superannuation Industry (Supervision) Act 1993 .
"tax file number" has the meaning given by section 202A of the Income Tax Assessment Act 1936 .
"trustee" , in relation to a fund, scheme or trust, means:
(a) if there is a trustee (within the ordinary meaning of that expression) of the fund, scheme or trust--the trustee; or
(b) in any other case--the person who manages the fund, scheme or trust.
"year of income" in relation to a person, means a period that is, for the purposes of the Income Tax Assessment Act 1936 , a year of income of the person (subsection 6(2A) of that Act applies accordingly).