Commonwealth Consolidated Acts

SUPERANNUATION INDUSTRY (SUPERVISION) ACT 1993 - SECT 60G

  (1)   This section applies if regulations made for the purposes of this subsection:

  (a)   specify one or more kinds of circumstances; and

  (b)   specify provisions of this Part   in relation to each of those kinds of circumstances.

  (2)   In circumstances of a kind specified in the regulations, for the purposes of provisions of this Part specified in the regulations in relation to that kind of circumstances:

  (a)   treat 2 or more Part   6A products (the single Part   6A products ) as being one Part   6A product (the combined Part   6A product ); and

  (b)   treat anything that happened in relation to a single Part   6A product as having happened in relation to the combined Part   6A product; and

  (c)   treat a person who holds a single Part   6A product as holding the combined Part   6A product.

  (3)   Subsection   (4) applies if a Part   6A product (the replaced product ) ceased to exist because it was incorporated into one or more single Part   6A products (whether or not the entity that offered the replaced product before it ceased to exist is the entity offering the single Part   6A product or any of the single Part   6A products).

  (4)   For the purposes of paragraph   (2)(b), treat anything that happened in relation to the replaced product as having happened in relation to the single Part   6A product.

  (5)   Regulations made for the purposes of subsection   (1) may:

  (a)   specify different provisions of this Part   in relation to different kinds of circumstances; and

  (b)   in specifying provisions of this Part, specify all the provisions of this Part (apart from this section).

  (6)   Regulations made for the purposes of subsection   (1) may do any of the following:

  (a)   specify requirements that depend on the exercise of a discretion by APRA;

  (b)   if the regulations specify requirements that depend on the exercise of such a discretion--specify matters that APRA must or may take into account in exercising that discretion;

  (c)   if the regulations specify requirements that depend on the exercise of such a discretion--allow APRA to make specified assumptions in exercising that discretion.

  (7)   Subsections   (5) and (6) do not limit the scope of regulations made for the purposes of subsection   (1).