Retirement Savings Accounts Regulations 1997

PART 3 - BENEFIT PROTECTION STANDARDS  

Division 3.2 - Treatment of benefits  

REGULATION 3.05   HOW BENEFITS ARE TO BE TREATED  

View history reference

3.05(1)    
An RSA provider must ensure that the benefits of an RSA holder are maintained until the benefits are:

(a) cashed (in accordance with Division 4.3 ) as benefits of the RSA holder, other than for the purpose of the RSA holder's temporary incapacity; or

(b) cashed under Part 4A ; or

(c) rolled over or transferred, as benefits of the RSA holder, or under Part 4A ; or

(d) transferred, rolled over or allotted under Division 4.5.

 View history note

 Hide history note

History

Reg 3.05(1) renumbered from reg 3.05 by SLI No 148 of 2011, reg 3 and Sch 1 item 1, by substituting " (1) An RSA " for " An RSA " , effective 6 August 2011.

Reg 3.05 amended by SLI No 331 of 2005, reg 3 and Sch 2 items 3 and 4, by inserting para (d), effective 1 January 2006.

Regulation 3.05 amended by SR No 352 of 2002, reg 3 and Sch 1 item 17, by substituting paras (b) and (c) for para (b), effective 28 December 2002. Para (b) formerly read:

(b) rolled over or transferred as benefits of the RSA holder.

3.05(2)    

View history reference

Subregulation (1) does not apply if, under a law of the Commonwealth, a State or a Territory mentioned in the table, a court makes a forfeiture order (however called) forfeiting part or all of the benefits of the RSA holder to the Commonwealth, a State or a Territory.

Item	Law	Provision(s)
Commonwealth
1.1	Proceeds of Crime Act 2002	Section 47
		Section 48
		Section 49
		Section 92
New South Wales
2.1	Confiscation of Proceeds of Crime Act 1989	Subsection 18(1)
2.2	Criminal Assets Recovery Act 1990	Section 22
Victoria
3.1	Confiscation Act 1997	Division 1 of Part 3
		Section 35
		Part 4
		Subsection 157(6)
Queensland
4.1	Criminal Proceeds Confiscation Act 2002	Section 58
		Section 58A
		Section 151
		Part 5 of Chapter 3
Western Australia
5.1	Criminal Property Confiscation Act 2000	Section 30, to the extent that it applies to confiscation under section 6 in satisfaction of a person ' s liability under section 20
		Section 30, to the extent that it applies to confiscation under section 7
South Australia
6.1	Criminal Assets Confiscation Act 2005	Section 47
Tasmania
7.1	Crime (Confiscation of Profits) Act 1993	Section 16
Australian Capital Territory
8.1	Confiscation of Criminal Assets Act 2003	Section 54
		Section 58
		Section 62
		Section 67
Northern Territory
9.1	Criminal Property Forfeiture Act 2002	Section 75
		Section 76
		Section 80
		Section 96
		Section 97
		Section 99

 View history note

 Hide history note

History

Reg 3.05(2) inserted by SLI No 148 of 2011, reg 3 and Sch 1 item 2, effective 6 August 2011.

Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited

CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.

The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.