Retirement Savings Accounts Regulations 1997

PART 2 - INFORMATION FOR RSA HOLDERS AND OTHERS  

Division 2.3A - Information about RSA interest subject to payment split  

REGULATION 2.18D   OTHER INFORMATION TO BE GIVEN BY RSA PROVIDER - ADVERSE EFFECT ON BENEFITS  

2.18D(1)    
This regulation applies if:

(a) an RSA interest is subject to a base amount payment split or a percentage payment split; and

(b) the interest is in the growth phase; and

(c) none of the following has occurred as a result of a payment split:

(i) a new RSA was opened for the non-member spouse;

(ii) the transferable benefits of the non-member spouse were transferred or rolled out of the RSA;

(iii) the amount to which the non-member spouse is entitled under the payment split was paid, as a lump sum, to the non-member spouse.

2.18D(2)    
The RSA provider must give to the non-member spouse information about an event if the RSA provider reasonably believes that:

(a) the event is likely to have a material effect on the RSA interest; and

(b) the event may be adverse (whether the adverse effect would occur at the time of the event or a later time).

2.18D(3)    
The information required under subregulation (2) must be given before, or as soon as practicable after, the occurrence of the event.