Law Council of Australia

Legal Practice Section

Proposed extension of relief for intra-fund transfers

Submission Date: 18 February 2026

The Legal Practice Section of the Law Council of Australia appreciates the opportunity to provide feedback on the proposed updates to ASIC Corporations (Superannuation: Accrued Default Amount and Intra-Fund Transfers) Instrument 2016/64  (Instrument).

This submission is made by the Legal Practice Section’s Superannuation Committee (the Committee).

The Instrument exempts trustees of regulated superannuation funds from the application form requirements in section 1016A of the Corporations Act 2001 for intra-fund transfers if conditions are met. It also exempts trustees of regulated superannuation funds from the cooling-off period requirements under section 1019A of the Corporations Act if the same conditions are met.

The Committee supports the proposed updates to the Instrument to remove the outdated references to accrued default amounts.

However, the Committee takes this opportunity to provide some commentary below in respect of two changes that we submit would further enhance the efficacy of the Instrument.

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Last Updated on 18/02/2026

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