delete Superannuation Industry (Supervision) (Transitional Provisions) Regulations 1993
The Superannuation Industry (Supervision) (Transitional Provisions) Regulations 1993 were enacted to facilitate the transition to the new Superannuation Industry (Supervision) Act 1993 framework. These regulations contained transitional rules, exemptions, and grandfathering provisions to manage the shift from the previous superannuation regulatory regime. As 'transitional' provisions, they were inherently intended to be temporary measures to ease the implementation of the 1993 reforms.
This instrument bears the label 'Transitional Provisions' indicating it was designed as temporary, bridge legislation for the 1993 superannuation reforms. After 30+ years, any genuinely transitional measures should long since have been incorporated into permanent rules or repealed. Retaining 'transitional' regulations decades after their purpose has passed: (1) creates legal uncertainty about which rules are permanent vs transitional; (2) adds compliance complexity without clear justification; (3) suggests regulatory creep where temporary measures become permanent features; (4) likely has been superseded by subsequent amendments to the main SIS Act. Legislation labeled as transitional that persists indefinitely defeats its own purpose and represents uncontrolled regulatory expansion.