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ASIC extends intra-fund transfer relief for super trustees

Published

ASIC has extended the intra-fund transfer relief provided for superannuation trustees by a period of five years, until 1 April 2031.

ASIC Corporations (Intra-fund Transfers) Instrument 2026/688 (ASIC Instrument 2026/688) continues the relief provided in ASIC Corporations (Superannuation: Accrued Default Amount and Intra-Fund Transfers) Instrument 2016/64, which is due to expire on 1 April 2026.

The relief extension gives clarity to superannuation trustees about the application form and cooling-off period requirements during an intra-fund transfer.

ASIC consulted on our proposal in CS 44 Proposed extension of relief for intra-fund transfers. We received three submissions, all supporting our proposal to extend the relief.

Background

ASIC Instrument 2016/64 exempted trustees of APRA-regulated superannuation funds who issue superannuation products during an intra-fund transfer from:

  • the application form requirements in section 1016A, and
  • the cooling-off period requirements in section 1019A of the Corporations Act 2001.

Under the Legislation Act 2003, all legislative instruments are repealed automatically, or sunset, after 10 years, unless ASIC takes action to preserve them.