On 28 January 2026, the Australian Securities and Investments Commission (ASIC) announced that it is inviting feedback on a proposal to extend existing relief for superannuation trustees from certain application form and cooling-off period requirements during intra-fund transfers.
Current relief and sunsetting
ASIC Corporations (Superannuation: Accrued Default Amount and Intra-Fund Transfers) Instrument 2016/64 currently exempts trustees of Australian Prudential Regulation Authority regulated superannuation funds from the application form requirements under section 1016A and the cooling-off period requirements under section 1019A of the Corporations Act 2001 (Cth) when issuing superannuation products during an intra-fund transfer.
This relief is due to sunset on 1 April 2026.
Proposed extension
ASIC has assessed that the relief is operating effectively and continues to form a necessary and useful part of the legislative framework. Accordingly, ASIC proposes to extend the relief until 1 April 2031, subject to certain amendments.
Key amendments
ASIC proposes to:
- remove redundant relief for movements of accrued default amounts to MySuper products.
- make minor and technical amendments to simplify the relief.
A draft of the proposed instrument, ASIC Corporations (Intra-Fund Transfers) Instrument 2026/XX, has been published.
Next steps
ASIC is inviting public feedback on the proposal by 5pm AEDT on 18 February 2026.