ASIC is inviting feedback on its proposal to extend relief for superannuation trustees from complying with application form and cooling-off period requirements during an intra-fund transfer.
ASIC Corporations (Superannuation: Accrued Default Amount and Intra-Fund Transfers) Instrument 2016/64 is due to expire on 1 April 2026. The relief will be extended until 1 April 2031.
We have assessed that the relief is operating effectively and continues to form a necessary part of the legislative framework.
In continuing the relief, ASIC proposes to exclude relief for movements of accrued default amounts to MySuper products, which is now redundant. We will also make minor and technical amendments to simplify the relief.
Providing feedback
Please send your feedback to rri.consultation@asic.gov.au by 5pm AEDT on 18 February 2026.
Refer to CS 44 Proposed extension of relief for intra-fund transfers.
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Background
ASIC Instrument 2016/64 exempts 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Under the Legislation Act 2003, all legislative instruments are repealed automatically, or sunset, after 10 years, unless ASIC takes action to preserve them.
ASIC is Australia’s corporate, markets and financial services regulator.