Superannuation Industry (Supervision) Amendment Regulations 2007 (No. 1) (74 of 2007)

Schedule 3   Amendments commencing on 1 July 2007

[43]   Subregulation 6.19 (3)

substitute

(3) Subject to subregulation (4), the form in which restricted non-preserved benefits may be cashed under this regulation is, unless the satisfied condition of release is the death of the member:

(a) a form (if any) specified in Schedule 1 as a cashing restriction relating to the condition of release; or

(b) if the specified cashing restriction is ‘Nil’ - any 1 or more of the following forms:

(i) 1 or more lump sums;

(ii) 1 or more pensions;

(iii) the purchase of 1 or more annuities.

Note For the cashing requirement applying on the death of the member, see regulation 6.21.