Corporations Regulations 2001

For paragraph 1016A(2)(f) of the Act, the following situation in which a restricted issue occurs is prescribed:

the financial product is a superannuation product;

the interest is issued by the trustee of a public offer superannuation entity in relation to the payment of benefits to the entity:

from an exempt public sector superannuation scheme; and

in accordance with an application made under the provisions of section 243 of the SIS Act, as applied by subregulation (2) (the applied provisions);

if the application is the first application under the applied provisions made to the trustee of the public offer superannuation entity by the trustee of the exempt public sector superannuation scheme on behalf of any person—the application is an eligible application.

For paragraph (1)(b), section 243 of the SIS Act applies in relation to the payment of benefits from the exempt public sector superannuation scheme to a public offer superannuation entity as if:

a reference in that section to a transferor fund were a reference to the exempt public sector superannuation scheme; and

a reference in that section to an eligible rollover fund were a reference to the public offer superannuation entity.