Superannuation Industry (Supervision) Regulations 1994

PART 7A - SUPERANNUATION INTERESTS SUBJECT TO PAYMENT SPLIT  

Division 7A.1A - Options for trustee in relation to interests  

REGULATION 7A.03G   GIVING EFFECT TO A REQUEST  

7A.03G(1)  
This regulation applies if a trustee receives a request under this Division within the time allowed under subregulation 7A.03F(1) .

7A.03G(2)  
The trustee must give effect to the request unless:

(a)  the trustee has received an earlier request under this Division in respect of the same interest and the earlier request has not been withdrawn; or

(b)  

for a request under regulation 7A.03C :

(i) the regulated superannuation fund in which the non-member spouse interest is held has no more than 6 members; or

(ii) the governing rules of the regulated superannuation fund in which the non-member spouse interest is held do not allow the non-member spouse to retain an interest in the fund; or

(c)  for a request under regulation 7A.03D - the regulated superannuation fund, approved deposit fund, EPSSS or RSA specified in the request does not accept the rollover or transfer of benefits for the non-member spouse.

7A.03G(3)  


If subparagraph (2)(b)(i) applies in relation to a request, the trustee must:

(a)  retain the new interest in accordance with the request; or

(b)  

roll over or transfer the withdrawal benefit to another regulated superannuation fund, approved deposit fund, EPSSS or RSA nominated by the non-member spouse; or

(c)  

if there has been no such nomination by the non-member spouse - consider whether it would be in the best interests of the non-member spouse to pay the amount of the withdrawal benefit to the Commissioner under section 22 of the Superannuation (Unclaimed Money and Lost Members) Act 1999 .

7A.03G(3A)  


If subparagraph (2)(b)(ii) , or paragraph (2)(c) , applies in relation to a request, the trustee must:

(a)  roll over or transfer the withdrawal benefit to another regulated superannuation fund, approved deposit fund, EPSSS or RSA nominated by the non-member spouse; or

(b)  if there has been no such nomination by the non-member spouse - consider whether it would be in the best interests of the non-member spouse to pay the amount of the withdrawal benefit to the Commissioner under section 22 of the Superannuation (Unclaimed Money and Lost Members) Act 1999 .

7A.03G(4)  
(Repealed by FRLI No F2021L00412)




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