Retirement Savings Accounts Regulations 1997

PART 3 - BENEFIT PROTECTION STANDARDS  

Division 3.3 - RSA holder-protection standards  

REGULATION 3.09  

3.09   RSA HOLDER-PROTECTION STANDARDS NOT TO APPLY TO CERTAIN PROTECTED RSA HOLDERS  
If:

(a) an RSA holder is a protected RSA holder at the end of an RSA holder reporting period; and

(b) the RSA provider has a reasonable expectation (in accordance with subsections 1017D(13) to (16) of the Corporations Act 2001 (as inserted by item 8.1 of Schedule 10A to the Corporations Regulations 2001 ) and regulation 7.9.27 of the Corporations Regulations 2001 ) that the RSA holder will have a withdrawal benefit of at least $1,500 within 12 months after the end of that RSA holder reporting period; and

(c) the RSA holder's withdrawal benefits reach $1,500 within 12 months after the end of that RSA holder reporting period;

the RSA holder is taken not to have been subject to the RSA holder-protection standards from the beginning of that RSA holder reporting period until the end of that period of 12 months.

[ NOTE:

See regulation 2.18 in relation to protected RSA holders whose benefits are reasonably expected to reach $1,500 within the period of 12 months after the end of an RSA holder reporting period.]