Retirement Savings Accounts Regulations 1997
PART 4
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PAYMENT STANDARDS
Division 4.2
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Payment of benefits
REGULATION 4.20
RESTRICTION ON PAYMENT
4.20(1)
The benefits of an RSA holder: (a) may be paid only by:
4.20(1A)
Subregulation (1) does not apply if, under a law of the Commonwealth, a State or a Territory mentioned in the table, a court makes a forfeiture order (however called) forfeiting part or all of the benefits of the RSA holder to the Commonwealth, a State or a Territory.
4.20(2)
If an RSA provider does not make a payment in accordance with the standard set out in subregulation (1) because the RSA provider is prevented from doing so: (a) under subsection 90XL(4) or 90YP(4) of the Family Law Act 1975 ; or (b) by an order made under subsection 90XU(1) or 90YZ(1) of the Family Law Act 1975 ;
The benefits of an RSA holder: (a) may be paid only by:
(i) being cashed under Division 4.3 or Part 4A ; or
(ii) being rolled over or transferred under Division 4.4 , 4.4A or 4.5 or Part 4A ; or
(b) must not be paid except when, and to the extent that, the RSA provider is required or permitted under this Part or Part 4A to pay them; and (c) must be paid when, and to the extent that, the RSA provider is required under this Part or Part 4A to pay them.
(iii) being allotted under Division 4.5 ; and
View history note
Hide history note4.20(1A)
Subregulation (1) does not apply if, under a law of the Commonwealth, a State or a Territory mentioned in the table, a court makes a forfeiture order (however called) forfeiting part or all of the benefits of the RSA holder to the Commonwealth, a State or a Territory.
| Item | Law | Provision(s) |
| Commonwealth | ||
| 1.1 | Proceeds of Crime Act 2002 | Section 47 |
| Section 48 | ||
| Section 49 | ||
| Section 92 | ||
| New South Wales | ||
| 2.1 | Confiscation of Proceeds of Crime Act 1989 | Subsection 18(1) |
| 2.2 | Criminal Assets Recovery Act 1990 | Section 22 |
| Victoria | ||
| 3.1 | Confiscation Act 1997 | Division 1 of Part 3 |
| Section 35 | ||
| Part 4 | ||
| Subsection 157(6) | ||
| Queensland | ||
| 4.1 | Criminal Proceeds Confiscation Act 2002 | Section 58 |
| Section 58A | ||
| Section 151 | ||
| Part 5 of Chapter 3 | ||
| Western Australia | ||
| 5.1 | Criminal Property Confiscation Act 2000 | Section 30, to the extent that it applies to confiscation under section 6 in satisfaction of a person ' s liability under section 20 |
| Section 30, to the extent that it applies to confiscation under section 7 | ||
| South Australia | ||
| 6.1 | Criminal Assets Confiscation Act 2005 | Section 47 |
| Tasmania | ||
| 7.1 | Crime (Confiscation of Profits) Act 1993 | Section 16 |
| Australian Capital Territory | ||
| 8.1 | Confiscation of Criminal Assets Act 2003 | Section 54 |
| Section 58 | ||
| Section 62 | ||
| Section 67 | ||
| Northern Territory | ||
| 9.1 | Criminal Property Forfeiture Act 2002 | Section 75 |
| Section 76 | ||
| Section 80 | ||
| Section 96 | ||
| Section 97 | ||
| Section 99 |
4.20(2)
If an RSA provider does not make a payment in accordance with the standard set out in subregulation (1) because the RSA provider is prevented from doing so: (a) under subsection 90XL(4) or 90YP(4) of the Family Law Act 1975 ; or (b) by an order made under subsection 90XU(1) or 90YZ(1) of the Family Law Act 1975 ;
the RSA provider is not in breach of the standard.
Note 1:
Subsections 90XL(4) and 90YP(4) of the Family Law Act 1975 provide that while a payment flag is operating on a superannuation interest, the RSA provider must not make any splittable payment to any person in respect of the interest.
Note 2:
Subsections 90XU(1) and 90YZ(1) of the Family Law Act 1975 provide that a court may make an order in relation to a superannuation interest directing the RSA provider not to make a splittable payment without the leave of the court.
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