Retirement Savings Accounts Regulations 1997

PART 3A - DATA AND PAYMENT MATTERS RELATING TO RSAs  

REGULATION 3A.03   INFORMATION TO BE GIVEN FOR REGISTER  

3A.03(1)  
For subsection 45R(1) of the Act, the RSA provider of a prescribed RSA must:


(a) give the Commissioner at least one unique RSA identifier for the RSA provider; and


(b) for each unique RSA identifier, give the Commissioner:


(i) one set of bank details that is sufficient to enable an electronic payment to be made; and

(ii) either:

(A) one internet protocol address; or

(B) one other kind of digital address approved by the Commissioner for the receipt of electronic communications.

3A.03(2)  
The RSA provider may give:


(a) the same bank details for more than one unique RSA identifier; and


(b) the same internet protocol address, or other approved digital address, for more than one unique RSA identifier.

3A.03(3)  
The RSA provider must tell the Commissioner the date on which the information is to be operative.

3A.03(4)  
The information must become operative before the later of:


(a) 1 July 2013; and


(b) the day the RSA provider first receives:


(i) a contribution; or

(ii) a rollover of an RSA holder ' s withdrawal benefits; or

(iii) a transfer of an RSA holder ' s withdrawal benefits.

3A.03(5)  
If:


(a) the RSA provider is receiving contributions, rollovers or transfers referred to in paragraph (4)(b) from an employer, a superannuation entity or another RSA provider when this Part commences; and


(b) the RSA provider expects that the RSA will continue to receive those contributions, rollovers or transfers on or after 1 July 2013;

the RSA provider must give the information referred to in subregulation (1) to the Commissioner no later than 30 days after the commencement day.

3A.03(6)  
If subregulation (5) does not apply, the RSA provider must give the information referred to in subregulation (1) to the Commissioner on or before the later of:


(a) 30 days after the commencement day; and


(b) 10 business days before the day the RSA provider first receives:


(i) a contribution; or

(ii) a rollover of an RSA holder ' s withdrawal benefits; or

(iii) a transfer of RSA holder ' s withdrawal benefits.

3A.03(7)  
If the RSA provider of a prescribed RSA proposes to change any information given for the RSA under this regulation, the RSA provider must give the changed information to the Commissioner no later than 10 business days before the new information is to be operative for the RSA.

3A.03(8)  
In this regulation:

commencement day
means the day on which Schedule 1 to the Retirement Savings Accounts and Related Legislation Amendment Regulation 2013 (No. 1) commences.




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