7.03
CurrentRestriction on accepting contributions or granting benefit accruals
Volume 1Parts 1 to 14 (regulations 1.01 to 14.39)
Part 7Contribution and benefit accrual standards (regulated superannuation funds)
Division 7.1General
7.03 Restriction on accepting contributions or granting benefit accruals
(1)
For the purposes of subsection 31(1) of the Act, the requirement in subregulation (2) is a standard applicable to the operation of a regulated superannuation fund to which this Division applies.
(2)
Except in accordance with this Division, a regulated superannuation fund must not:
(a)
accept contributions; or
(b)
grant an accrual of benefits.
This Act’s bill:Explanatory statement
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