Australian Securities & Investments Commission extends intra-fund transfer relief for superannuation trustees to 1 April 2031

The Australian Securities & Investments Commission (ASIC) has extended the intra-fund transfer relief for superannuation trustees for five years, to 1 April 2031, by issuing ASIC Corporations (Intra-fund Transfers) Instrument 2026/688. The extension maintains relief that was due to expire on 1 April 2026 and is intended to clarify how application form and cooling-off period requirements apply during an intra-fund transfer. The relief continues the settings in ASIC Corporations (Superannuation: Accrued Default Amount and Intra-Fund Transfers) Instrument 2016/64, which exempted trustees of APRA-regulated superannuation funds who issue superannuation products during an intra-fund transfer from the application form requirements in section 1016A and the cooling-off period requirements in section 1019A of the Corporations Act 2001. ASIC consulted on the extension proposal in Consultation Paper 44 and received three submissions, all supporting the extension; the update also notes that legislative instruments sunset after 10 years under the Legislation Act 2003 unless action is taken to preserve them.