Retirement Savings Accounts Regulations 1997

PART 4 - PAYMENT STANDARDS  

Division 4.1 - Introductory  

Subdivision 4.1.5 - Miscellaneous  

REGULATION 4.17A  

4.17A   WHEN BENEFITS ROLLED OVER OR TRANSFERRED ARE UNRESTRICTED NON-PRESERVED BENEFITS  

Benefits rolled over or transferred to an RSA are unrestricted non-preserved benefits if:

(a) the benefits were rolled over or transferred from:

(i) a superannuation fund ( Fund A ) during its transitional period; or

(ii) a regulated superannuation fund or an approved deposit fund to which the benefits were rolled over or transferred from a superannuation fund ( Fund B ) during its transitional period; and

(b) the RSA provider is reasonably satisfied that:

(i) during the transitional period of Fund A or Fund B, there arose in relation to the benefits a circumstance that would have resulted in the satisfaction of a condition of release and a ``Nil'' cashing restriction if the SIS Regulations applied; or

(ii) before the benefits were rolled over or transferred to Fund A or Fund B from a regulated superannuation fund or an approved deposit fund, the relevant cashing restriction set out in Schedule 1 of the SIS Regulations in respect of the benefits was ``Nil''.