Superannuation Industry (Supervision) Regulations 1994
PART 6
-
PAYMENT STANDARDS
Division 6.3
-
Cashing of benefits
Subdivision 6.3.2
-
Approved deposit funds
REGULATION 6.27A
PRIORITY IN CASHING BENEFITS IN CERTAIN CASES
-
APPROVED DEPOSIT FUNDS
6.27A(1)
[Cashing restriction in condition of release]
(a) a member of the fund has satisfied a condition of release; and
(b) there is a cashing restriction (other than a ' nil ' restriction) in respect of that condition. 6.27A(2) [Order of priority]
(a) first - to unrestricted non-preserved benefits;
(b) second - to preserved benefits.
This regulation applies to a trustee of an approved deposit fund if:
(a) a member of the fund has satisfied a condition of release; and
(b) there is a cashing restriction (other than a ' nil ' restriction) in respect of that condition. 6.27A(2) [Order of priority]
In cashing benefits in accordance with the restriction, the trustee must give priority to benefits in the following order:
(a) first - to unrestricted non-preserved benefits;
(b) second - to preserved benefits.
View history note
Hide history noteThis information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.