Retirement Savings Accounts Regulations (Amendment) 1997 (150 of 1997)

"105

Severe financial hardship

For a person taken to be in severe financial hardship under paragraph 4.01 (5) (a) - in each
12 month period (beginning on the date of first payment), a single lump sum not less than $1,000 (except if the amount of the person's preserved benefits and restricted non-preserved benefits is less than that amount) and not more than $15,000

For a person taken to be in severe financial hardship under paragraph 4.01 (5) (b) - Nil".

"108A

Compassionate ground

A single lump sum, not exceeding an amount determined, in writing, by the Commissioner, being an amount that:

(a) taking account of the ground and of the person's financial capacity, is reasonably required; and

(b) in the case of the ground mentioned in paragraph 4.22A (1) (b) - in each 12 month period (beginning on the date of first payment), does not exceed an amount equal to the sum of:

(i) 3 months' repayments; and

(ii) 12 months' interest on the outstanding balance of the loan".