Corporations Regulations 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

PART 7.9 - FINANCIAL PRODUCT DISCLOSURE AND OTHER PROVISIONS RELATING TO ISSUE AND SALE OF FINANCIAL PRODUCTS  

Division 5 - Ongoing requirements for product disclosure after person becomes a member  

Subdivision 5.12 - Periodic report when product holder ceases to hold product: superannuation products and RSAs  

REGULATION 7.9.59   INFORMATION TO BE GIVEN WHERE APPLICABLE  

7.9.59(1)   [ Required information]  

For paragraph 1017D(5) (g) of the Act, if a reporting period for an RSA is the exit reporting period to which paragraph 1017D(2) (d) of the Act applies for an RSA holder who ceases to be an RSA holder, otherwise than by death, the RSA provider must give the RSA holder:

(a) the information mentioned in regulation 7.9.26 (other than paragraphs 7.9.26(1) (h), (i), (l) and (m)); and

(b) in the case of a death benefit that ceases or reduces, or will cease or reduce, because the person has closed the RSA:

(i) either:

(A) the amount of the death benefit immediately before the person closed the RSA or at the end of the last RSA holder reporting period; or

(B) the method of working out the death benefit; and

(ii) whether a continuation option for insurance cover is available to the person and, if it is, details of the option, a contact person who is available to discuss the option and a telephone number for the contact person.

7.9.59(2)   [ Nil amount]  

A nil amount need not be disclosed.