Retirement Savings Accounts Regulations 1997

PART 4 - PAYMENT STANDARDS  

Division 4.4A - Compulsory rollover and transfer of benefits in RSAs  

REGULATION 4.35E   TRANSFERRING ENTITY MUST ELECTRONICALLY RECEIVE REQUEST  

4.35E(1)    
This regulation applies to an RSA provider (the transferring entity ) if the RSA holder of an RSA provided by the transferring entity makes a request for the whole or part of the RSA holder ' s withdrawal benefit in the RSA to be rolled over or transferred to any of the following (the receiving entity ):

(a) a superannuation entity;

(b) an RSA provided by another RSA provider.

4.35E(2)    
The transferring entity must be able to electronically receive information in relation to the rollover or transfer sent to the transferring entity:

(a) by the receiving entity, in accordance with regulation 4.35D and any applicable Standards made under subsection 45B(3) of the Act; or

(b) by the receiving entity in accordance with regulation 6.33A of the SIS Regulations and any applicable Standards made under subsection 34K(3) of the SIS Act; or

(c) by the RSA holder, in accordance with any Standards made under subsection 45B(3) of the Act, or subsection 34K(3) of the SIS Act, that apply in relation to requests for rollovers or transfers of benefits; or

(d) by the Commissioner of Taxation under regulation 4AA.03 .