Treasury Laws Amendment (Release of Superannuation on Compassionate Grounds) Regulations (No. 2) 2020

(F2020L00532)

30 April 2020

Retirement Savings Accounts Act 1997;Superannuation Industry (Supervision) Act 1993

1   Name

This instrument is the Treasury Laws Amendment (Release of Superannuation on Compassionate Grounds) Regulations (No. 2) 2020.

2   Commencement

 

(1) Each provision of this instrument specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.

Note: This table relates only to the provisions of this instrument as originally made. It will not be amended to deal with any later amendments of this instrument.

      

(2) Any information in column 3 of the table is not part of this instrument. Information may be inserted in this column, or information in it may be edited, in any published version of this instrument.

3   Authority

This instrument is made under the following:

(a) the Retirement Savings Accounts Act 1997;

(b) the Superannuation Industry (Supervision) Act 1993.

4   Schedules

Each instrument that is specified in a Schedule to this instrument is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its terms.

Schedule 1   Amendments

Retirement Savings Accounts Regulations 1997

1   Paragraph 4.22B(1C)(b)

Repeal the paragraph, substitute:

(b) in a case where paragraph (1B)(b) applies:

(i) the person is employed; and

(ii) the person is unable to meet his or her immediate living expenses; or

Superannuation Industry (Supervision) Regulations 1994

2   Paragraph 6.19B(1C)(b)

Repeal the paragraph, substitute:

(b) in a case where paragraph (1B)(b) applies:

(i) the person is employed; and

(ii) the person is unable to meet his or her immediate living expenses; or