Superannuation Industry (Supervision) Regulations 1994

PART 10 - ELIGIBLE ROLLOVER FUNDS  

REGULATION 10.02   PAYMENT OF BENEFIT TO ELIGIBLE ROLLOVER FUND  

10.02(1)  
For paragraph 243(1)(b) of the Act, 1 July 1995 is the date from which section 243 of the Act applies to a person.

10.02(2)  
For paragraph 243(1)(c) of the Act, the condition is that the beneficiary is not a non-member spouse whose entitlement under a payment split is to be dealt with under regulation 7A.16 .

10.02(3)  
For paragraph 243(3)(b) of the Act, the amount of the consideration for the issue of a superannuation interest:


(a) is the amount of the beneficiary ' s withdrawal benefit in the transferor fund; and


(b) does not include any amount that would be payable to the member ' s spouse or former spouse under a payment split.

Note: Section 243 of the Act sets out the circumstances in which the trustee of a fund may apply to an eligible rollover fund, on behalf of a beneficiary of the fund, for the issue of a superannuation interest in the eligible rollover fund to the beneficiary.




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