Treasury Laws Amendment (Reuniting More Superannuation) Regulations 2021 (F2021L00412)

Schedule 1   Amendments

Retirement Savings Accounts Regulations 1997

16   Subregulation 4A.27(6)

Repeal the subregulation, substitute:

(6) If the transferor RSA provider believes, on reasonable grounds and after making reasonable inquiries, that the non-member spouse has not given a consent mentioned in subregulation (5), the RSA provider must:

(a) consider whether it would be in the best interests of the non-member spouse to pay the amount to the Commissioner under section 22 of the Superannuation (Unclaimed Money and Lost Members) Act 1999; and

(b) if the RSA provider does not pay the amount to the Commissioner under section 22 of the Superannuation (Unclaimed Money and Lost Members) Act 1999 - roll over or transfer the transferable benefits to a MySuper product.