The Governor-General has proclaimed 1 January 2013 as the day on which items 2 to 13 of Sch 1 to the Superannuation Legislation Amendment (MySuper Core Provisions) Act 2012 will commence.
These provisions provide for the application and authorisation process for MySuper products.
The 1 January 2013 commencement date seeks to provide APRA with a reasonable timeframe in which to accept and process applications from registrable superannuation entity (RSE) licensees for authorisation to offer a MySuper product from 1 July 2013.
Note also that the 1 January 2013 proclamation date for certain provisions of the MySuper Core Provisions Act is also relevant for the commencement of provisions within the other tranches of the MySuper legislation.
[LTN 239, 10/12]