Retirement Savings Accounts Regulations 1997
This regulation applies if: (a) the non-member spouse has not satisfied a relevant condition of release at the time of the splittable payment; and (b)
The RSA provider of the RSA in which the original interest is held must: (a) if the RSA provider has received an eligible application from the non-member spouse to open a new RSA, and the RSA provider is otherwise permitted to open a new RSA for the non-member spouse - open a new RSA in the non-member spouse ' s name and transfer the amount to the new RSA; or (b) roll over or transfer the amount to an RSA provided by another RSA provider, or to a regulated superannuation fund, an approved deposit fund or an EPSSS, to be held for the benefit of the non-member spouse. 4A.27(3)
The RSA provider must preserve the amount mentioned in subregulation (2). 4A.27(4)
The RSA provider must roll over or transfer the lump sum within: (a) (b) any longer period allowed by the Regulator.
Subject to subregulation (6), the amount must not be allocated, rolled over or transferred unless the transferor RSA provider: (a) has received, from the non-member spouse, consent to the allocation, rollover or transfer; or (b) in the case of a rollover or transfer - believes, on reasonable grounds, that:
(i) the receiving RSA provider; or
has received from the non-member spouse consent to the rollover or transfer.
(ii) the trustee of the receiving regulated superannuation fund, approved deposit fund or EPSSS;
If the transferor RSA provider believes, on reasonable grounds and after making reasonable inquiries, that the non-member spouse has not given a consent mentioned in subregulation (5), the RSA provider must: (a) consider whether it would be in the best interests of the non-member spouse to pay the amount to the Commissioner under section 22 of the Superannuation (Unclaimed Money and Lost Members) Act 1999 ; and (b) if the RSA provider does not pay the amount to the Commissioner under section 22 of the Superannuation (Unclaimed Money and Lost Members) Act 1999 - roll over or transfer the transferable benefits to a MySuper product.
The consent of the member spouse to a rollover or transfer under this regulation is not required. 4A.27(8)
In subregulation (5):
(a) written consent; or
(b) any other form of consent determined by APRA as sufficient in the circumstances.
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