Retirement Savings Accounts Regulations 1997

PART 4 - PAYMENT STANDARDS  

Division 4.3 - Cashing of benefits  

REGULATION 4.29   PRIORITY IN CASHING BENEFITS IN CERTAIN CASES  

4.29(1)   [Cashing restriction in condition of release]  

This regulation applies to an RSA provider if:

(a) an RSA holder has satisfied a condition of release; and

(b) there is a cashing restriction (other than a ``Nil'' restriction) in respect of that condition.

4.29(2)   [Order of priority]  

In cashing benefits in accordance with the restriction, the RSA provider must give priority to benefits in the following order:

(a) first - to unrestricted non-preserved benefits;

(b) second - to restricted non-preserved benefits;

(c) third - to preserved benefits.