Corporations Regulations 2001

For a superannuation product or an RSA, if a product holder would reasonably be expected to be informed of:

a decision of the issuer; or

the winding‑up or termination of the superannuation entity;

For subsections 1017B(5), (6) and (7) a reference to an event includes the following:

a change to the governing rules of a superannuation entity (other than a change that gives effect to a payment split) of a kind that has an adverse effect on:

the amount of the relevant financial product; or

the benefits to which the holder of the relevant financial product may become entitled; or

the circumstances in which the benefits to which the holder of the relevant financial product may become entitled would become payable;

a change to the terms and conditions of an RSA (other than a change that gives effect to a payment split) of a kind that has an adverse effect on:

the amount of the RSA; or

the benefits to which the RSA holder may become entitled; or

the circumstances in which the benefits to which the RSA holder may become entitled would become payable;

any other change in relation to an RSA, caused by any other act carried out or consented to by the issuer, of a kind that has an adverse effect on:

the amount of the RSA; or

the benefits to which the RSA holder may become entitled; or

the circumstances in which the benefits to which the RSA holder may become entitled would become payable.

If the issuer of a superannuation product receives a notice of non‑compliance, the issuer must give to each product holder:

a statement of the circumstances (including details of the non‑compliance) that gave rise to the issue of the notice; and

a statement of the effect on the fund of the issue of the notice (including details of the effect on the entity’s taxation position); and

details of action that the issuer has taken, or proposes to take, to have the entity become a complying fund or a pooled superannuation trust for the purposes of Division 2 of Part 5 of the Act.

For subsection (5C), a notice of non‑compliance means a notice issued under section 40 of the SIS Act to the trustee of a fund stating that the fund is not a complying fund or a pooled superannuation trust.

For subsections (5), (6) and (7), a reference to an event includes:

in relation to a superannuation product:

the transfer of a member to a different category of membership or to a different fund; and

the transfer of the benefits of a member to an RSA or exempt public sector superannuation scheme (otherwise than under a payment split); and

in relation to an RSA—the transfer of an amount of an RSA (otherwise than under a payment split) to:

another RSA offered by an RSA issuer; or

a superannuation entity; or

an exempt public sector superannuation scheme.

This section does not apply to a change or event in relation to a superannuation product or an RSA that relates to a payment split in respect of the product.

This section does not apply to a change or event in relation to a superannuation product or an RSA if the change or event happens because of a transfer in accordance with paragraph 6.29(1)(ba) of the Superannuation Industry (Supervision) Regulations 1994 in respect of the product.