Superannuation Industry (Supervision) Regulations 1994

For the purposes of subparagraph 60(1)(b)(iii) of the Act, the circumstances in which the governing rules of a superannuation entity other than a self managed superannuation fund may be amended are:

where, after the making of the amendment:

the fund (if a defined benefit fund) would not become technically insolvent within the meaning of subregulation 9.06(3); or

the fund (if an accumulation fund) would not become technically insolvent within the meaning of subregulation 9.35(3); and

where the amendment could have been made by the trustee without contravening the Act (other than section 55) or these regulations; and

where the amendment qualifies under subregulation (2).

An amendment qualifies if:

the contributions of the employer‑sponsor to the fund include contributions that are not mandated employer contributions (within the meaning of Part 5) and the amendment relates solely to either or both of the following:

those non‑mandated employer contributions; or

benefits related to those non‑mandated employer contributions; or

whether or not paragraph (a) applies—the amendment relates solely to one or more of the following:

the admission of new members to the fund; or

the category of members into which a new member or existing member is to be placed; or

allowing a person to become an employer‑sponsor of the fund; or

the termination of the fund; or

the appointment of a trustee to an entity that does not have a trustee.