Retirement Savings Accounts Regulations 1997

Div 2.3 omitted by SR No 20 of 2002, reg 3 and Sch 1 item 4, effective 11 March 2002.

Reg 2.18 omitted by SR No 20 of 2002, reg 3 and Sch 1 item 4, effective 11 March 2002. Reg 2.18 formerly read:

EXCEPTION - RSA HOLDERS WITH SMALL AMOUNTS THAT ARE EXPECTED TO GROW QUICKLY  
2.18(1)
If, at the end of a reporting period, an RSA provider has a reasonable expectation that an RSA holder will have a withdrawal benefit of at least $1,500 within 12 months after the end of the reporting period, the RSA provider need not show, in RSA information provided to the RSA holder, the effect of the RSA holder-protection standards.

2.18(2)
For the purposes of subregulation (1), an RSA provider is not taken to have a reasonable expectation that the RSA holder will have a withdrawal benefit of $1,500 within the period of 12 months mentioned in that subregulation if termination of the RSA holder's employment with a current employer would be likely to result in the RSA holder's withdrawal benefit being below $1,500 at the end of that period.

2.18(3)
If, at the end of the 12-month period, the RSA holder's withdrawal benefit has not reached $1,500, the RSA provider must show, in RSA information provided to the RSA holder for each reporting period ending on or after the end of the 12-month period, the effect of the RSA holder-protection standards.

2.18(4)
An RSA provider must not take advantage of subregulation (1) in respect of a person more than once unless, after an occasion on which the RSA provider does so but before the next occasion, the person ceases to be the holder of the RSA and subsequently becomes the holder of an RSA provided by the same RSA provider.