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)   [Application]  

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

7A.03G(2)   [When request fails]  

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received an earlier request under this Division in respect of the same interest and the earlier request has not been withdrawn; or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 fewer than 5 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)   [Where fund has fewer than five members]  

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 benefits to:


(i) another regulated superannuation fund, approved deposit fund, EPSSS or RSA nominated by the non-member spouse; or

(ii) an eligible rollover fund.

7A.03G(3A)   [Other circumstances]  

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


(a) another regulated superannuation fund, approved deposit fund, EPSSS or RSA nominated by the non-member spouse; or


(b) an eligible rollover fund.

7A.03G(4)   [Notice of rollover]  

If the amount is rolled over or transferred to an eligible rollover fund under paragraph (3)(b) or (3A)(b), the trustee must give to the non-member spouse, within 28 days, a written notice stating:


(a) that the benefits have been rolled over or transferred to an eligible rollover fund; and


(b) the name and contact details of the fund; and


(c) the amount that was rolled over or transferred.


 

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