Superannuation Industry (Supervision) Regulations (Amendment) 1998 (83 of 1998)

12.   Regulation 5.01 (Interpretation)

12.1 Subregulation 5.01 (1) (definition of "deferred annuity", subparagraph (b) (i)):

Omit the subparagraph, substitute:

"(i) that payment of benefits under the annuity:

(A) is not commenced earlier than the time when Part 6 permits or requires the benefits to be paid from an approved deposit fund; and

(B) is to commence as soon as practicable after the annuitant attains (or, if the annuitant has died, would have attained) age 65; and".