Retirement Savings Accounts Amendment Regulations 2007 (No. 1) (104 of 2007)

Schedule 1   Amendments commencing on day after registration

[6]   After regulation 4.20

Insert

4.20A Payment and commutation of pension in breach of standards

If an RSA provider provides a pension under rules which meet the standards of subregulation 1.07 (3A), the RSA provider must not:

(a) pay the pension in a way that does not meet the standards of that subregulation; or

(b) allow the pension to be commuted except in accordance with that subregulation.