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]  

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.