Proceeds of crime: confiscation from superannuation – regs amended

Superannuation Industry (Supervision) Amendment Regulations 2011 (No 3)
were registered on the Federal Register of Legislative Instruments
on 8 August 2011. The amendments allow superannuation trustees to
recognise forfeiture orders made under Commonwealth, State or Territory
proceeds of crime legislation.

Date of effect: The regulations commence on 9 August 2011.

Please note that “Proceeds of crime legislation” is far far wider than you probably think. In some states assets acquired decades before any crime was  or owned jointly with uninvolved persons can be confiscated. See this ABC radio nation law report program for a disturbing discussion of this