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

Schedule 3   Amendments commencing on 1 July 2007

[35]   Subregulation 4.26 (1)

substitute

(1) Subject to regulations 4.27, 4A.24 and 4A.28, an RSA holder’s interest in an RSA must not be cashed in favour of a person other than the RSA holder or the RSA holder’s legal personal representative:

(a) unless:

(i) the RSA holder has died; and

(ii) the conditions of subregulation (2) or (3) are satisfied; or

(b) unless the conditions of subregulation (4) are satisfied.