Transfer to successor fund
68 Transfer to successor fund
(1) A superannuation fund is a successor fund if the Trustee Board and Commissioner:
(a) are satisfied that the fund confers on a member of the fund rights equivalent to those that a pensioner has under the Scheme in respect of an allocated pension; and
(b) have agreed with the trustee of the successor fund that those equivalent rights will be conferred on a pensioner if his or her benefit is transferred to the successor fund.
(2) The Commissioner may transfer the pensioner's remaining benefit to a successor fund.
The Commissioner may do so without the consent of the pensioner.
(4) However, if the successor fund is a registrable superannuation entity that is a regulated superannuation fund or an approved deposit fund, the Commissioner must not transfer the benefit unless the successor fund is registered under Part 2B of the SIS Act.
In this section:
approved deposit fund, see section 10(1) of the SIS Act.
registrable superannuation entity, see section 10(1) of the SIS Act.
regulated superannuation fund, see section 10(1) of the SIS Act.
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