Funding and solvency certificates—operating standard
9.09 Funding and solvency certificates—operating standard
The trustee of a defined benefit fund to which this Division applies must, in accordance with this Division, obtain from a superannuation actuary a funding and solvency certificate in relation to the fund.
The Regulator may direct the trustee of the fund, in writing, to obtain from a superannuation actuary a new or replacement funding and solvency certificate if the Regulator considers, on reasonable grounds, that to do so would be:
in the prudential interests of the fund; and
in the best interests of the members of the fund.
The trustee of the fund must comply with a written direction under subregulation (1A).
The trustee of the fund must, as soon as practicable, give a copy of a certificate obtained under this regulation to each employer‑sponsor who has contributed or is contributing to the fund.
This Act’s bill:Explanatory statement
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