Superannuation (Cancellation of Elections) Regulations (Cth)

Statutory Rules

1978 No. 201

REGULATIONS UNDER THE SUPERANNUATION ACT 1976*

I, THE GOVERNOR-GENERAL of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, hereby make the following Regulations under the Superannuation Act 1976.

Dated this nineteenth day of October 1978. ZELMAN COWEN Governor-General

By His Excellency's Command, ERIC L. ROBINSON Minister of State for Finance

SUPERANNUATION (CANCELLATION OF ELECTIONS) REGULATIONS†

Citation 1. These Regulations may be cited as the Superannuation (Cancellation of Elections) Regulations.

Commencement 2. These Regulations shall be deemed to have taken effect from and including 24 April 1978.

Interpretation 3. In these Regulations, " the Act " means the Superannuation Act 1976.

Person prescribed for the purposes of paragraph 157 (3) (b) of the Act 4. For the purposes of paragraph 157 (3) (b) of the Act, a person whom the Commissioner has, in pursuance of sub-section 157 (2) of the Act, allowed to make an election under a provision of the Act is a prescribed person.

* Notified in the Commonwealth of Australia Gazette on 26 October 1978.

Prescribed matters for the purposes of paragraph 157 (3) (c) of the Act 5. For the purposes of paragraph 157 (3) (c) of the Act, the following matters are matters to which the Commissioner shall have regard in determining whether an election referred to in paragraph 157 (3) (a) of the Act should be cancelled: (a) the availability of all information relevant to the making of the election to the person who made the election (including a person who, by virtue of sub-section 157 (2) of the Act, is deemed to have made the election) and, if the election was made under sub-section 157 (2) of the Act, also to the person whom the Commissioner, in pursuance of that sub-section, allowed to make the election; and (b) the understanding that the person who made the election (including a person who, by virtue of sub-section 157 (2) of the Act, is deemed to have made the election) and, if the election was made under sub-section 157 (2) of the Act, also the person whom the Commissioner, in pursuance of that sub-section, allowed to make the election, had of the nature of the election and the consequences of making the election.