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SUPERANNUATION INDUSTRY (SUPERVISION) ACT 1993

PART 1 - PRELIMINARY  

Division 1 - Preliminary  

SECTION 6  GENERAL ADMINISTRATION OF ACT  

6(1)  

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Subject to subsections (3) and (4):


(a) APRA has the general administration of the following provisions, to the extent that administration of the provisions is not conferred on ASIC by paragraph (da) or the Commissioner of Taxation by paragraph (e), (ea), (fa), or (g):

(i) Parts 2A, 2B and 2C (other than subsection 29SAA(3) and sections 29QB and 29QC);

(ia) Part 3A;

(ib) Divisions 2 and 3 of Part 3B;

(ii) Parts 4 to 5;

(iii) section 60A;

(iv) Part 7 (other than sections 64A and 68A);

(v) Parts 8 to 11A (other than section 99F);

(vi) Part 12 (other than sections 101, 103 and 105);

(vii) Part 14 to 16;

(viii) Part 17;

(ix) Part 21;

(x) Parts 22 to 24A;

(xi) Division 3 of Part 25;

(xii) Part 25A;

(xiii) Part 32; and
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(b) APRA also has the general administration of Parts 3 and 6 (other than section 60A) and section 105 to the extent that that administration is not conferred on any of the following:

(i) the Chief Executive Medicare by paragraph (ba);

(ii) ASIC by paragraph (d);

(iii) the Commissioner of Taxation by paragraph (f) or (g); and
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(ba) the Chief Executive Medicare has the general administration of regulations made under Part 3 to the extent that the regulations relate to making determinations that an amount of benefits in a superannuation entity may be released on compassionate grounds; and
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(c) ASIC has the general administration of:

(ia) subsection 29SAA(3) and sections 29QB and 29QC; and

(i) sections 64A and 68A; and

(iia) section 99F; and

(ii) sections 101 and 103; and

(iii) Part 19;

(iv) (Repealed by No 123 of 2001)

(v) (Repealed by No 128 of 1999)
to the extent that administration is not conferred on the Commissioner of Taxation by paragraph (e); and
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(d) ASIC also has the general administration of Parts 3 and 6 (other than section 60A) and section 105 to the extent to which they relate to:


(i) the keeping of reports to members of, or beneficiaries in, funds; or

(ii) disclosure of information to members of, or beneficiaries in, funds; or

(iii) disclosure of information about funds (including disclosure of information to ASIC but not including disclosure of information to APRA); or

(iv) any other matter prescribed by the regulations for the purposes of this paragraph; and


(da) ASIC also has the general administration of Part 16 (other than Division 2 and section 128P) to the extent that it relates to auditors of self managed superannuation funds; and
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(e) the Commissioner of Taxation has the general administration of the following provisions to the extent that they relate to self managed superannuation funds:

(ia) Division 2 of Part 3B;

(i) Parts 4, 5, 7 (other than section 68A) and 8;

(ii) Part 12 (other than section 105);

(iii) Parts 13 and 14;

(iv) Part 15;

(v) Division 2 of Part 16 and section 128P;

(vi) Part 17 (other than section 140);

(vii) Parts 20, 21 and 24;

(viii) Divisions 2, 3, 4 and 5 of Part 25A; and
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(ea) the Commissioner of Taxation also has the general administration of Part 16 (other than section 128N) to the extent that:


(i) it relates to self managed superannuation funds; and

(ii) that administration is not conferred on ASIC by paragraph (da); and


(f) the Commissioner of Taxation also has the general administration of Parts 3 and 6 (other than section 60A) and section 105:

(i) to the extent that they relate to self managed superannuation funds; and

(ia) to the extent that administration is not conferred on the Chief Executive Medicare by paragraph (ba); and

(ii) to the extent that administration is not conferred on ASIC by paragraph (d); and
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(fa) the Commissioner of Taxation has the general administration of:

(i) Division 1 of Part 3B; and

(ii) Division 2 of Part 3B, to the extent it relates to employers; and

(iii) Division 2 of Part 3B, to the extent it relates to payments and information given to the Commissioner of Taxation; and

(iv) Division 4 of Part 3B; and
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(g) the Commissioner of Taxation also has the general administration of:

(i) Division 3 of Part 3 (Portability forms); and

(ii) Division 1 of Part 25A, section 299NA, Division 3A of Part 25A and subsection 299U(2A) (about tax file numbers).
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(h) (Repealed by No 2 of 2015)
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Note:

An effect of a provision being administered by the Commissioner of Taxation (see paragraphs (e), (f) and (g)) is that people who acquire information under the provision are subject to the confidentiality obligations and exceptions in Division 355 in Schedule 1 to the Taxation Administration Act 1953.

6(2)  

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Powers and duties are also conferred by Parts 1, 25 (other than Division 3) and 26, 27, 28, 29 (other than section 332) and 30 on:


(a) APRA for the purposes of APRA's administration of the provisions it administers; and


(b) ASIC for the purposes of ASIC's administration of the provisions it administers.

Note:

Generally neither APRA nor ASIC are referred to in these provisions, Regulator is used instead. See the definition of Regulator in section 10.

6(2AA)  

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Despite paragraph (2)(b):


(a) powers and duties conferred on ASIC by section 255 are conferred only in relation to persons who are relevant persons in relation to superannuation entities; and


(b) powers and duties conferred on ASIC by section 256 are conferred only in relation to the affairs of superannuation entities.

6(2A)  

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Powers and duties are also conferred by Parts 1, 25 (other than Division 3), 26 to 28, 29 (other than section 332) and 30 (other than section 342) on the Commissioner of Taxation for the purposes of the administration of the provisions he or she administers.

Note:

Generally, the Commissioner of Taxation is not referred to in these provisions, Regulator is used instead.

6(2AB)  

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Despite subsection (2A), powers and duties conferred on the Commissioner of Taxation by Divisions 4 to 8 of Part 25 (other than section 285) are conferred only in relation to:


(a) persons who are relevant persons in relation to superannuation entities; and


(b) the affairs of superannuation entities.

6(2AC)  

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Nothing in subsection (2AB) limits the powers and duties conferred on the Commissioner of Taxation by Part 25 (as mentioned in subsection (2A)) in relation to contributing employers.

Note:

The Commissioner of Taxation's powers and duties under Part 25 in relation to contributing employers are found in sections 255 and 256, with related provisions in Divisions 7, 8 and 9 of that Part.

6(2B)  

Powers and duties are also conferred on APRA by section 332 for the purposes of the administration of provisions administered by APRA or by the Commissioner of Taxation.

6(3)  

The Minister may give APRA or ASIC directions about the performance or exercise of its functions or powers under this Act.

6(4)  

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Despite subsection (1):


(a) if an entity is not a self managed superannuation fund on the last day of a year of income, APRA has (subject to any later application of this subsection) the general administration of subsections 40(1) and (2), in relation to the entity, in respect of the following:


(i) the doing of anything after the end of that year of income, in relation to that year of income;

(ii) the doing of anything after the end of that year of income, in relation to any previous year of income; and


(b) if an entity is a self managed superannuation fund on the last day of a year of income, the Commissioner of Taxation has (subject to any later application of this subsection) the general administration of subsections 40(1) and (2), in relation to the entity, in respect of the following:


(i) the doing of anything after the end of that year of income, in relation to that year of income;

(ii) the doing of anything after the end of that year of income, in relation any previous year of income; and


(c) the following rules apply in relation to the general administration of subparagraphs 42(1AA)(b)(ii) and (c)(ii), subsection 42(1AC), subparagraphs 42A(3)(c)(ii) and (d)(ii) and subsection 42A(4):


(i) subject to subparagraph (ii), APRA has the general administration of those provisions;

(ii) if another person or body is specified in regulations under subsection 19(4) in respect of a class of superannuation funds, that person or body has the general administration of those provisions to the extent that they relate to funds belonging to that class.


 



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