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Issue 568, 22 May 2015 

ASIC to defer section 29QC requirements 

As you would be aware, ASIC previously delayed the implementation of the requirements of section 29QC of the Superannuation Industry Supervision Act 1993 until 1 July 2015, and consulted with the industry on issuing class order relief to limit the scope of section 29QC. 

ASIC have advised ASFA that they intend to defer the start date for section 29QC further, to provide time for them to properly consider the terms of the relevant class order. 

We expect ASIC to provide further clarification in the near future and we will keep you updated. 

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