Superannuation Administration Act 1996

Regulations may be made about the following—

the eligibility requirements for an employee to exercise a right of transfer under section 128 (a transfer option),

the circumstances in which a transfer of employment is taken to have occurred for the purposes of a transfer option,

how a transfer option may be exercised, including the way, form and time for exercising the option,

the terms and conditions to which the employee’s membership of the fund is subject once the employee exercises a transfer option,

the transfer of assets and liabilities between funds in relation to an employee who exercises a transfer option,

the resolution by a person or body of disputes relating to the exercise of a transfer option,

the payment of employer superannuation liabilities, including—

employer contributions, and

benefits, and

insurance premiums.

Regulations may also be made about the rights and obligations of the employee and associated beneficiaries, in relation to the employee’s membership of or contributions to the fund from which the employee is transferred under the transfer option, including—

the preservation or deferral of a benefit in the fund, and

the calculation of the preserved or deferred benefit, and

the payment of the benefit to the fund to which the employee is transferred despite—

a minimum qualifying period of membership, or

another limit of the fund that would otherwise prevent or restrict the preservation or deferral of the benefit.

A regulation made under this section may confer a transfer option even if the relevant transfer of employment took place before the regulation commenced.