Retirement Savings Accounts Regulations 1997

PART 4 - PAYMENT STANDARDS  

Division 4.2 - Payment of benefits  

REGULATION 4.20B   BENEFITS TO BE PAID AS SOON AS PRACTICABLE WHERE MEMBER SATISFIES COMPASSIONATE GROUND RELATING TO CORONAVIRUS  

4.20B(1)    
This regulation applies if:

(a) the Regulator has determined under subregulation 4.22B(3) (about coronavirus) that a specified amount of benefits in an RSA may be released on a compassionate ground; and

(b) the RSA provider receives from the Regulator a copy of the determination as referred to in subregulation 4.22B(6) .

Note:

See item 109AA of Schedule 2 .

4.20B(2)    
The RSA provider must pay the benefits to the RSA holder as soon as practicable after the RSA provider receives the copy of the determination, without requiring any additional application from the RSA holder.