Corporations Amendment Regulations 2002 (No. 2) (16 of 2002)

Schedule 1 Amendments commencing at 12.01 am (in the Australian Capital Territory) on 11 March 2002

substitute

(3) The right of return is taken to have been exercised only on receipt by the provider of the nomination.

(4) The holder must make the nomination not later than 1 month after notifying the product issuer of the right to exercise the right of return.

(5) The holder must notify the product issuer in writing or by electronic means.

(6) For subsection 1019B (7) of the Act, if:

(a) a holder nominates a superannuation entity or RSA; and

(b) the superannuation entity or RSA does not accept the nomination;

the product issuer may rollover or transfer the holder's benefits to an eligible rollover fund.