Superannuation Industry (Supervision) Regulations 1994

PART 6 - PAYMENT STANDARDS  

Division 6.1 - Introductory  

Subdivision 6.1.4 - Unrestricted non-preserved benefits  

REGULATION 6.12   MOVEMENT OF BENEFITS BETWEEN CATEGORIES BY SATISFACTION OF CONDITIONS OF RELEASE  

6.12(1)   [Preserved benefits becoming unrestricted non-preserved benefits]  

If:

(a) a member of a regulated superannuation fund or an approved deposit fund satisfies a condition of release; and

(b) the relevant cashing restriction in respect of preserved benefits is ' Nil ' ;

the member's preserved benefits in the fund at that time cease to be preserved benefits and become unrestricted non-preserved benefits.

6.12(2)   [Restricted non-preserved benefits becoming unrestricted non-preserved benefits]  

If:

(a) a member of a regulated superannuation fund satisfies a condition of release; and

(b) the relevant cashing restriction in respect of restricted non-preserved benefits is ' Nil ' ;

the member's restricted non-preserved benefits in the fund at that time cease to be restricted non-preserved benefits and become unrestricted non-preserved benefits.

6.12(3)   [Application of Subdiv 6.1.5]  

This regulation has effect subject to Subdivision 6.1.5 .