Retirement Savings Accounts Amendment Regulations 2002 (No. 4) (149 of 2002)

Schedule 1   Amendments

[7]   Subregulation 5.03 (4)

substitute

(4) Subject to subregulation (5), an RSA institution may accept contributions that are made in respect of an RSA holder who has reached age 70 but not age 75 only if:

(a) the contributions are mandated employer contributions; or

(b) the contributions are made by the RSA holder in respect of the RSA holder and the RSA holder is gainfully employed on a full-time or part-time basis.

(4A) Subject to subregulation (5), an RSA institution may accept contributions that are made in respect of an RSA holder who has reached age 75 only if the contributions are mandated employer contributions.