Retirement Savings Accounts Act 1997
(a) that is described as an RSA; and
(b) that is provided by an entity that is an RSA institution at the time the account is opened or the policy is issued; and
(c) that is capital guaranteed (see section 14 ); and
(d) that is held by a person who is an eligible person at the time the account is opened or the policy is issued (see section 13 ); and
(e) that, at the time that it is opened or issued, satisfies:
(i) the requirements in section 15 ; and
(ii) any prescribed criteria; and
(f) that is opened or issued on or after 1 July 1997 or such later day as is prescribed. 8(2) [RSAs provided by insurance companies]
retirement savings account
, can only be provided by a life insurance company as a policy.
Section 16 provides that policy has the same meaning as in the Life Insurance Act 1995 .