Title
1 Short Title and commencement
2 Interpretation
2A Definition of superannuation scheme
Part 1
Registration of superannuation schemes
3 Applications for registration of scheme governed by trust deed
4 Applications for registration of scheme constituted under Act of Parliament
5 Matters required to be specified in application
6 Registration of schemes
Trust deeds
7 Content of trust deeds
8 Implied provisions as to investment of scheme money
9 Implied provision as to amendments reducing accrued benefits, etc
9A Implied provision as to alterations to scheme
9B Implied provision as to transfer of members, etc
9BAA When FMA may approve transfers without consent of members and beneficiaries
9BAB How approval under section 9BAA may be granted
9BA FMA may exempt trustees from requirement to obtain written consent of all members and beneficiaries
9C Implied provisions as to deferred benefits
9D Implied term as to reduction of scheme insurance upon transfer out of complying superannuation fund
10 Implied provision as to reversion of scheme assets to employer
11 Application and enforcement of implied provisions
12 Amendment of trust deeds
Financial information
13 Accounts
14 Annual reports
15 Actuarial examination
Prospective members' rights to information
15A Prospective members' rights to information
Members' rights to information
16 Rights to information before becoming member of registered superannuation scheme
17 Members' rights to information
Non-resident trustees
18 Non-resident trustees
Disclosure of information
18A Disclosure of information to FMA
18B Protection of administration managers, investment managers, actuaries, and auditors
Powers of FMA as to cancellation of registration, etc
19 Cancellation of registration
20 Powers of FMA in event of scheme operating in contravention of this Act, etc
Independent trustees
20A Receiver or liquidator to designate or appoint independent trustee if required
Winding up of registered schemes
21 Winding up of registered schemes
Reversion of assets to employer
22 Consent to reversion of assets to employer
Part 2
Miscellaneous provisions
23 Right of appeal against certain decisions of FMA
24 Power of Government Actuary to require information [Repealed]
25 Offences
26 Secrecy [Repealed]
27 Personal liability [Repealed]
28 Annual report by FMA
29 Fees
30 Regulations
31 Consequential amendments
32 Repeals, revocations, and consequential amendments taking effect on 1 April 1990
33 Savings
34 Complying superannuation funds
35 Dealing with applications for complying superannuation funds
36 Revocation of approval
37 Duty to notify changes about complying superannuation funds to FMA
38 Form of notice under section 37
39 Duty to give notice to FMA about fee increases
40 Powers of High Court in relation to unreasonable fees
41 Transitional provision relating to lodging of participation agreements
Part 3
Transitional provisions relating to reduction of benefits as result of changes in taxation
[Repealed]
Amendments to schemes as result of Income Tax Amendment Act 1989
[Repealed]
42 Uniform reduction in existing pensions may be regarded as equitable [Repealed]
43 Uniform reduction in existing and future pensions may be regarded as equitable [Repealed]
44 Notification of amendments made in accordance with this Part [Repealed]
45 Amendment to become valid on date made [Repealed]
45A Reduction of benefits where employer obliged to provide defined benefit [Repealed]
Amendments to schemes to provide for later changes in taxation
[Repealed]
46 Amendment to provide for variations as result of later taxation changes [Repealed]
47 No reductions to be made except to make benefits secure [Repealed]
Part 4
Transitional provisions relating to position of schemes approved under Superannuation Schemes Act 1976
48 Closing date for applications for approval [Repealed]
49 Registration of approved schemes [Repealed]
50 Effect of cancellation of approval [Repealed]
51 Application to cancel approval of scheme that is not to become registered [Repealed]
52 Cancellation of approval of certain overseas schemes [Repealed]
53 Position of schemes that are still approved as at 31 March 1990 [Repealed]
54 Position where 2 or more approved schemes share trust deed [Repealed]
55 Certain provisions in trust deed obsolete
56 Certain references to approved schemes deemed to include references to registered schemes
57 Effect of new withholding tax on contributions to Class A funds [Repealed]
Part 5
Annuities
[Repealed]
58 Interpretation [Repealed]
Reductions in annuities as result of Income Tax Amendment Act 1989
[Repealed]
59 Reduction of annuities granted before 1 April 1990 [Repealed]
60 Approval of Government Actuary needed if reduction in net benefits [Repealed]
61 Other powers to reduce benefits not affected [Repealed]
Non-commutable and non-assignable annuities
[Repealed]
62 Non-commutable and non-assignable annuities [Repealed]
Miscellaneous
[Repealed]
63 Objections and appeals against decisions of Government Actuary [Repealed]
64 Power of Government Actuary to require information [Repealed]
65 Personal liability [Repealed]
66 Fees [Repealed]
67 Regulations [Repealed]
Part 6
Transfer of superannuation business of life offices
[Repealed]
68 Application for approval of transfer of superannuation business [Repealed]
69 Approval of transfer arrangement by Government Actuary [Repealed]
70 Transfer of property pursuant to approved arrangement [Repealed]
71 Liability to stamp duty, goods and services tax, and income tax in respect of transfer of property [Repealed]
Schedule 1
Matters to be specified in application for registration
Schedule 2
Matters to be specified in annual report
Schedule 3
Enactments consequentially amended
Schedule 4
Consequential amendments with effect on and after 1 April 1990
Superannuation Schemes Amendment Act 1992
Taxation (KiwiSaver and Company Tax Rate Amendments) Act 2007
Reprint notes