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

Schedule 3   Amendments commencing on 1 July 2007

[60]   Regulation 6.26

insert

(2) In addition to subregulation (1), a member’s benefits in an approved deposit fund may be cashed if:

(a) the trustee has received a release authority under section 292-410 of the Income Tax Assessment Act 1997 in respect of the member; and

(b) the benefits are cashed in favour of the Commissioner of Taxation in accordance with the authority.