Superannuation Industry (Supervision) Regulations 1994

PART 6 - PAYMENT STANDARDS  

Division 6.3 - Cashing of benefits  

Subdivision 6.3.2 - Approved deposit funds  

REGULATION 6.24   VOLUNTARY CASHING OF UNRESTRICTED NON-PRESERVED BENEFITS IN APPROVED DEPOSIT FUNDS  

6.24(1)   [Benefits may be cashed at any time]  

Subject to regulation 6.27 , a member's unrestricted non-preserved benefits in an approved deposit fund may be cashed at any time.

6.24(2)   [Amount that may be cashed]  

The amount of unrestricted non-preserved benefits that may be cashed in accordance with subregulation (1) is the whole or part of the member's unrestricted non-preserved benefits in the fund.

6.24(3)   [Form in which benefits may be cashed]  

Subject to subregulation (4), the form in which unrestricted non-preserved benefits may be cashed under this regulation is a lump sum or 2 or more lump sums.

6.24(4)   [Benefits cashed in a lump sum]  

A lump sum mentioned in subregulation (3) must be payable not later than the time for the payment of a lump sum mentioned in subregulation 6.25(2) .