Superannuation Industry (Supervision) Regulations 1994

Reg 1.03B repealed by SLI No 86 of 2013, reg 4 and Sch 1 item 3, effective 1 July 2013. Reg 1.03B formerly read:

REGULATION 1.03B MEANING OF PROTECTED MEMBER  
1.03B(1)
A protected member is a member of a regulated superannuation fund who has a withdrawal benefit, or a benefit of any other type that is payable on leaving the fund otherwise than voluntarily (not including any applicable exit fee), that:

(a) is less than $1 000; and

(b) contains, or contained, benefits that are mandated employer-financed benefits (within the meaning of subregulation 5.01(1) ).

1.03B(2)
An excluded member is not a protected member.

1.03B(3)
If the trustee of a regulated superannuation fund has rolled over or transferred an amount that is the whole or part of a member's withdrawal benefit to another regulated superannuation fund or to an approved deposit fund, RSA or EPSSS in accordance with Division 6.5 , the member is not a protected member of the fund from which the amount was rolled over or transferred.

1.03B(4)
For subregulation (1), a benefit in a fund is taken to contain or to have contained mandated employer-financed benefits unless:

(a) if the benefits arose in relation to contributions made before 1 July 1995 - the trustee of the fund reasonably believes otherwise; or

(b) if the benefits arose in relation to contributions made on or after 1 July 1995 - the trustee of the fund knows otherwise.

Reg 1.03B inserted by SR No 251 of 2003, reg 3 and Sch 1 item 5, effective 1 July 2004.