Retirement Savings Accounts Regulations 1997

PART 4A - RSA INTERESTS SUBJECT TO PAYMENT SPLIT  

Division 4A.1 - General  

REGULATION 4A.03   RSA PROVIDER TO GIVE PAYMENT SPLIT NOTICE  

4A.03(1)   [When notice required]  

If an RSA interest becomes subject to a payment split, the RSA provider must notify the member spouse and the non-member spouse in relation to the interest that the interest is subject to a payment split.

4A.03(2)   [Notice must be dated and in writing]  

The notice must:

(a) be in writing; and

(b) state the date on which it is given.

4A.03(3)   [Timing]  

The notice must be given:

(a) for a payment split under a superannuation agreement or flag lifting agreement - within 28 days after the operative time for the payment split; and

(b) for a payment split under a splitting order - by the later of:

(i) the end of 28 days after the operative time for the payment split; and

(ii) the end of 28 days after the RSA provider receives a copy of the order.

4A.03(4)   [Cessation of payment split]  

Despite subregulation (1), the RSA provider is not required to give a payment split notice in respect of an RSA interest if the interest ceases to be subject to the payment split:

(a) before the end of the period applying under subregulation (3); and

(b) for a reason other than the creation of a non-member spouse interest under regulation 4A.05.

Note:

A non-member spouse may also be entitled to information under section 1017C of the Corporations Act 2001 and Division 2.3A .