Commonwealth Consolidated Regulations Commonwealth Consolidated RegulationsStatutory Rules 1997 No. 116 as amended
This compilation was prepared on 6
June 2009
taking into account amendments up to SLI 2009 No. 105
Prepared by the Office of
Legislative Drafting and Publishing,
Attorney‑General's Department, Canberra
Contents
Part 1 Preliminary
1.01 Name of Regulations [see Note 1] 9
1.02 Commencement [see Note 1] 9
1.03 Interpretation 9
1.04 Eligible person -- section 13 of the Act 17
1.05 Approved auditor 17
1.05A Meaning of growth phase 17
1.06 Lost RSA holder 18
1.07 Meaning of pension -- section 16 of the Act 19
1.08 Commutation of market linked pension 27
1.08A Commutation of an account‑based pension 29
1.09 Interdependency relationships (Act s 20A) 30
Part 2 Information for RSA holders and others
Division 2.2 Information before becoming an RSA holder or on employer's making an application on behalf of employee
2.09 Prescribed information -- paragraph 52 (2) (a) of the Act 33
Division 2.3A Information about RSA interest subject to payment split
2.18A Application of Division 2.3A 33
2.18B Operating standards 33
2.18C Information to be provided by RSA provider -- growth phase 34
2.18D Other information to be given by RSA provider -- adverse effect on benefits 34
Part 3 Benefit protection standards
Division 3.1 Introductory
3.01 Interpretation 36
3.02 RSA provider may provide greater protection 37
Division 3.2 Treatment of benefits
3.03 Operating standards 37
3.04 Minimum benefits 37
3.05 How benefits are to be treated 38
3.06 Mandated employer contributions 38
3.06A Priority in deducting surcharge or instalment 39
3.06B Refund of costs 39
Division 3.3 RSA holder‑protection standards
3.07 Interpretation 40
3.08 Operating standards 40
3.09 RSA holder‑protection standards not to apply to certain protected RSA holders 40
3.10 RSA holder‑protection standards not to apply to pensions or annuities 41
3.11 RSA holder‑protection standards not to apply to traditional life insurance policies 41
3.12 RSA holder‑protection standards 41
3.13 Costs not to be deferred 42
Part 4 Payment standards
Division 4.1 Introductory
Subdivision 4.1.1 General interpretation
4.01 Interpretation [see Note 2] 43
4.01A Meaning of terminal medical condition 49
4.01B Conditions of release for temporary residents 50
4.03 RSA changeover day 50
Subdivision 4.1.2 Preserved benefits
4.04 Preserved benefits -- before 1 July 1999 50
4.05 Preserved benefits -- on and after 1 July 1999 51
4.08 Effect of rollover or transfer on preserved benefits 51
Subdivision 4.1.3 Restricted non‑preserved benefits
4.09 Restricted non‑preserved benefits -- before 1 July 1999 52
4.10 Restricted non‑preserved benefits -- on and after 1 July 1999 52
4.12 Effect of rollover or transfer on restricted non‑preserved benefits 53
Subdivision 4.1.4 Unrestricted non‑preserved benefits
4.13 Unrestricted non‑preserved benefits 53
4.14 Movement of benefits between categories by satisfaction of conditions of release 54
4.15 Effect of rollover or transfer on unrestricted non‑preserved benefits 55
Subdivision 4.1.5 Miscellaneous
4.17 Contributions and benefits taken to be preserved benefits 55
4.17A When benefits rolled over or transferred are unrestricted non‑preserved benefits 55
4.17B Investment earnings taken to be unrestricted non‑preserved benefits 56
4.18 Redistribution of benefits by operation of terms and conditions or action of RSA provider 57
Division 4.2 Payment of benefits
4.19 Operating standards 58
4.20 Restriction on payment 59
4.20A Payment and commutation of pension in breach of standards 59
Division 4.3 Cashing of benefits
4.21 Voluntary cashing of preserved benefits 60
4.22 Voluntary cashing of restricted non‑preserved benefits 61
4.22A Release of benefits on compassionate grounds 62
4.23 Voluntary cashing of unrestricted non‑preserved benefits 64
4.23A Compulsory cashing of benefits -- temporary residents 64
4.23B Cashing of benefits in an RSA -- payment to Commissioner of Taxation 66
4.24 Compulsory cashing of benefits 66
4.25 Effect of rollover or transfer on post‑65 employer‑financed benefits 67
4.26 Limitation on cashing of benefits in favour of persons other than RSA holders or their legal personal representatives 67
4.27 When benefits may be cashed in favour of persons other than RSA holders 68
4.28 Effect of payment of benefits 69
4.29 Priority in cashing benefits in certain cases 69
Division 4.4 Rollover and transfer of benefits
4.30 Definition 69
4.31 Operating standards 70
4.32 Rollover 70
4.33 Transfer 70
4.34 When RSA holder's consent need not be given 71
Division 4.4A Compulsory rollover and transfer of benefits in RSAs
4.35 Application of Division 4.4A 71
4.35A Operating standards 72
4.35B Request form 72
4.35C Request for rollover or transfer of withdrawal benefit 72
4.35D Rollover or transfer of benefit 73
4.35E When an RSA provider may refuse to roll over or transfer an amount 75
Division 4.5 Spouse contributions‑splitting amounts
4.37 Interpretation 76
4.38 Meaning of taxed splittable contribution and untaxed splittable contribution 78
4.39 Meaning of splittable contribution 79
4.40 Application of Division 4.5 79
4.41 Application to roll over, transfer or allot an amount of contributions 79
4.42 Decision on application 81
4.43 Receiving spouse 82
Part 4A RSA interests subject to payment split
Division 4A.1 General
4A.01 Purpose of Part 4A 83
4A.01A Relevant condition of release 83
4A.02 Operating standards 83
4A.03 RSA provider to give payment split notice 84
Division 4A.2 Options available for interests
4A.04 Application of Division 4A.2 84
4A.05 RSA provider may open a new RSA 85
4A.06 Request to retain a non‑member spouse interest 88
4A.07 Request to roll over or transfer benefits 88
4A.08 Request for lump sum payment 88
4A.09 Requirements for requests 88
4A.10 Giving effect to a request 89
4A.11 RSA provider's options if no request received 90
4A.12 Confirming a non‑member spouse RSA 92
4A.13 Rolling over or transferring the non‑member spouse's interest 92
4A.14 Paying a lump sum 93
Division 4A.3 Options available for certain RSA interests
4A.15 Application of Division 4A.3 93
4A.16 Request to open new RSA 94
4A.17 Request for transfer of benefits 94
4A.18 Request for lump sum payment 94
4A.19 Requirements for requests 95
4A.20 Giving effect to a request 95
4A.21 RSA provider options if no request received 96
4A.22 Opening a new RSA 98
4A.23 Rolling over or transferring transferable benefits 100
4A.24 Paying a lump sum 102
Division 4A.4 Splittable payments -- payment standards for non‑member spouse entitlements
4A.25 Application of Division 4A.4 105
4A.27 Preservation of non‑member spouse entitlements 105
4A.28 Cashing of non‑member spouse entitlements 107
Part 5 Contribution standards
5.01 Interpretation 109
5.02 Operating standards 109
5.03 Acceptance of contributions 109
Part 6 Miscellaneous
Division 6.1 Reconsideration and review of decisions
6.01 Notice of reviewable decisions and reasons for decisions 115
6.02 Reconsideration of certain decisions 115
6.03 AAT review of reconsidered decisions 116
Division 6.2 Matters prescribed or specified in relation to RSA institutions and providers
6.04 Application for approval as an RSA institution 116
6.05 Circumstances in which a person may become RSA holder 116
6.06 Requirements concerning how certain money to be dealt with 117
6.07 Statements by experts -- keeping of written consents 118
Division 6.3 Information to be given to APRA or Commissioner of Taxation and related matters
6.08 Operating standards -- disclosure of information to APRA 118
6.10 Lodgment of annual returns 119
Division 6.4 Other matters
6.11 RSA holder benefits -- specified age 119
6.12 Prescribed regulatory agencies 119
6.13 Period to notify RSA holder or employer of suspension or revocation 119
6.14 Orders etc of the Superannuation Complaints Tribunal to be complied with 120
6.15 Amount to be transferred 120
6.16 Period within which audit report must be given 120
6.16A Conditional offer of goods or services -- exemptions 120
6.17 Payment of benefit to eligible rollover fund 121
6.18 Report of inspector -- prescribed agencies 122
6.19 Statements made at an examination -- manner of authentication 122
Schedule 1 Payment limits for pensions with a commencement day before 1 January 2006 124
Schedule 1A Payment limits for pensions with a commencement day on or after 1 January 2006 132
Schedule 2 Conditions of release and cashing restrictions -- preserved benefits and restricted non‑preserved benefits 139
Schedule 4 Payments for market linked pensions 143
Schedule 5 Minimum payment amount for an account‑based pension 147
Notes 149
Notes to the Retirement Savings Accounts Regulations 1997
Note 1
The Retirement Savings Accounts Regulations 1997 (in force under the Retirement Savings Accounts Act 1997) as shown in this compilation comprise Statutory Rules 1997 No. 116 amended as indicated in the Tables below.
For all relevant information pertaining to application, saving or transitional provisions see Table A.
The Retirement Savings Accounts Regulations 1997 were modified by Modification Declaration No. 1. The modification is not incorporated in this compilation. For the text of the modification, see Table B.
The Retirement Savings Accounts Regulations 1997 were modified by Modification Declaration No. 1 of 2006 (see F2006L02133). The modification is not incorporated in this compilation. For the text of the modification, see Table B.
Table of Instruments
|
Year and |
Date of notification |
Date of |
Application, saving or |
|
1997 No. 116 |
29 May 1997 |
2 June 1997 (see r. 1.02 and Gazette 1997, No. S202) |
|
|
1997 No. 150 |
26 June 1997 |
1 July 1997 |
-- |
|
1997 No. 151 |
26 June 1997 |
1 July 1997 |
-- |
|
1997 No. 242 |
10 Sept 1997 |
10 Sept 1997 |
-- |
|
1997 No. 294 |
16 Oct 1997 |
16 Oct 1997 |
-- |
|
1997 No. 308 |
5 Nov 1997 |
5 Nov 1997 |
-- |
|
1997 No. 342 |
9 Dec 1997 |
9 Dec 1997 |
R. 5 |
|
1998 No. 82 |
5 May 1998 |
R. 6: 1 Nov
1998 |
-- |
|
1998 No. 176 |
30 June 1998 |
30 June 1998 |
-- |
|
1998 No. 178 |
30 June 1998 |
R. 4: 1 July
1998 |
-- |
|
1998 No. 192 |
30 June 1998 |
1 July 1998 |
-- |
|
1999 No. 13 |
11 Feb 1999 |
11 Feb 1999 |
-- |
|
1999 No. 315 |
15 Dec 1999 |
15 Dec 1999 |
-- |
|
2000 No. 279 |
18 Oct 2000 |
Rr. 1-3: 18 Oct 2000 |
-- |
|
2002 No. 20 |
21 Feb 2002 |
11 Mar 2002 (see r. 2 and Gazette 2001, No. GN42) |
-- |
|
2002 No. 47 |
7 Mar 2002 |
7 Mar 2002 |
-- |
|
2002 No. 90 |
9 May 2002 |
1 July 2002 |
-- |
|
2002 No. 149 |
27 June 2002 |
1 July 2002 |
-- |
|
2002 No. 200 |
29 Aug 2002 |
29 Aug 2002 |
-- |
|
2002 No. 352 |
20 Dec 2002 |
28 Dec 2002 (see r. 2) |
-- |
|
2003 No. 41 |
27 Mar 2003 |
27 Mar 2003 |
-- |
|
2003 No. 195 (a) |
31 July 2003 |
(see r. 2) |
-- |
|
2004 No. 11 |
20 Feb 2004 |
20 Feb 2004 |
-- |
|
2004 No. 147 |
25 June 2004 |
Rr. 1-3 and Schedule 1: 1 July 2004 |
-- |
|
2004 No. 197 |
1 July 2004 |
1 July 2004 |
-- |
|
2004 No. 348 |
8 Dec 2004 |
1 July 2004 |
-- |
|
2004 No. 403 |
23 Dec 2004 |
20 Sept 2004 |
-- |
|
2005 No. 55 |
4 April 2005 (see F2005L00728) |
1 July 2005 |
-- |
|
2005 No. 149 |
30 June 2005 (see F2005L01676) |
1 July 2005 |
-- |
|
2005 No. 218 |
7 Oct 2005 (see F2005L02918) |
Rr. 1-3 and Schedule 1 [items 15-17]: 8 Oct 2005 |
-- |
|
2005 No. 260 |
14 Nov 2005 (see F2005L03449) |
15 Nov 2005 |
-- |
|
2005 No. 330 |
20 Dec 2005 (see F2005L04048) |
Rr. 1-3 and Schedule 1:
21 Dec 2005 |
-- |
|
2005 No. 331 |
20 Dec 2005 (see F2005L04026) |
Rr. 1-3 and Schedule 1: 21 Dec 2005 |
-- |
|
2006 No. 188 |
17 July 2006 (see F2006L02314) |
18 July 2006 |
-- |
|
2007 No. 104 |
27 Apr 2007 (see F2007L01123) |
Rr. 1-3 and Schedule 1: 28 Apr 2007 |
-- |
|
2007 No. 203 |
29 June 2007 (see F2007L01894) |
1 July 2007 |
-- |
|
2008 No. 8 |
15 Feb 2008 (see F2008L00375) |
16 Feb 2008 |
-- |
|
2009 No. 14 |
6 Feb 2009 (see F2009L00257) |
Rr. 1-3 and Schedule 1: 7 Feb 2009 |
-- |
|
2009 No. 45 |
16 Mar 2009 (see F2009L00986) |
17 Mar 2009 |
-- |
|
2009 No. 105 |
5 June 2009 (see F2009L02157) |
6 June 2009 |
-- |
(a) The Retirement Savings Accounts Amendment Regulations 2003 (No. 2) were disallowed by the Senate on 18 September 2003.
Table of Amendments
|
ad. = added or inserted am. = amended rep. = repealed rs. = repealed and substituted |
|
|
|
Provision affected |
How affected |
|
|
Part 1 |
|
|
|
R. 1.01.................................. |
rs. 1999 No. 13 |
|
|
R. 1.03.................................. |
am. 1997 Nos. 294 and 308; 1998 No. 192; 1999 No. 13; 2002 Nos. 20, 47, 149 and 352; 2004 Nos. 11, 147 and 197; 2005 Nos. 55, 218 and 331; 2007 No. 104 |
|
|
Note to r. 1.03 (1)................ |
ad. 1997 No. 308 |
|
|
R. 1.05.................................. |
am. 2007 No. 104 |
|
|
R. 1.05A................................ |
ad. 2002 No. 352 |
|
|
R. 1.06.................................. |
am. 2004 No. 197; 2007 No. 104 |
|
|
Note to r. 1.06 (3)................ |
am. 1999 Nos. 13 and 315 |
|
|
|
rs. 2002 No. 200 |
|
|
R. 1.07.................................. |
am. 2002 No. 352; 2004 No.
147; 2005 No. 330; 2006 |
|
|
R. 1.08.................................. |
ad. 2004 No. 147 |
|
|
|
am. 2004 No. 403; 2007 Nos. 104; 2009 No. 105 |
|
|
R. 1.08A................................ |
ad. 2007 No. 104 |
|
|
|
am. 2009 No. 105 |
|
|
R. 1.09.................................. |
ad. 2005 No. 260 |
|
|
Part 2 |
|
|
|
Div. 2.1 of Part 2.................. |
rep. 2002 No. 20 |
|
|
Rr. 2.01-2.03...................... |
rep. 2002 No. 20 |
|
|
R. 2.04.................................. |
am. 2002 No. 47 |
|
|
|
rep. 2002 No. 20 |
|
|
R. 2.05.................................. |
rep. 2002 No. 20 |
|
|
Division 2.2 |
|
|
|
Rr. 2.06-2.08...................... |
rep. 2002 No. 20 |
|
|
R. 2.09.................................. |
rs. 2002 No. 20 |
|
|
R. 2.10.................................. |
rep. 2002 No. 20 |
|
|
Div. 2.3 of Part 2.................. |
rep. 2002 No. 20 |
|
|
R. 2.11.................................. |
rep. 2002 No. 20 |
|
|
R. 2.12.................................. |
am. 1998 No. 192 |
|
|
|
rep. 2002 No. 20 |
|
|
Rr. 2.13, 2.14....................... |
rep. 2002 No. 20 |
|
|
R. 2.15.................................. |
am. 1997 No. 308 |
|
|
|
rep. 2002 No. 20 |
|
|
R. 2.16.................................. |
rep. 2002 No. 20 |
|
|
R. 2.17.................................. |
am. 1997 No. 308 |
|
|
|
rep. 2002 No. 20 |
|
|
R. 2.18.................................. |
rep. 2002 No. 20 |
|
|
Division 2.3A |
|
|
|
Div. 2.3A of Part 2............... |
ad. 2002 No. 352 |
|
|
R. 2.18A................................ |
ad. 2002 No 352 |
|
|
R. 2.18B............................... |
ad. 2002 No. 352 |
|
|
R. 2.18C............................... |
ad. 2002 No. 352 |
|
|
R. 2.18D............................... |
ad. 2002 No. 352 |
|
|
Div. 2.4 of Part 2.................. |
rep. 2002 No. 20 |
|
|
Rr. 2.19, 2.20....................... |
rep. 2002 No. 20 |
|
|
Div. 2.5 of Part 2.................. |
rep. 2002 No. 20 |
|
|
Rr. 2.21-2.23...................... |
rep. 2002 No. 20 |
|
|
R. 2.24.................................. |
am. 2002 No. 47 |
|
|
|
rep. 2002 No. 20 |
|
|
Rr. 2.25, 2.26....................... |
rep. 2002 No. 20 |
|
|
R. 2.27.................................. |
am. 2002 No. 47 |
|
|
|
rep. 2002 No. 20 |
|
|
R. 2.28.................................. |
am. 1999 No. 13; 2002 No. 47 |
|
|
|
rep. 2002 No. 20 |
|
|
R. 2.29.................................. |
am. 1999 No. 13; 2002 No. 47 |
|
|
|
rep. 2002 No. 20 |
|
|
R. 2.30.................................. |
rep. 2002 No. 20 |
|
|
Div. 2.6 of Part 2.................. |
rep. 2002 No. 20 |
|
|
Rr. 2.31-2.33...................... |
rep. 2002 No. 20 |
|
|
R. 2.34.................................. |
am. 2002 No. 47 |
|
|
|
rep. 2002 No. 20 |
|
|
R. 2.35.................................. |
rs. 1998 No. 82 |
|
|
|
rep. 2002 No. 20 |
|
|
Div. 2.7 of Part 2.................. |
rep. 2002 No. 20 |
|
|
Rr. 2.36-2.40...................... |
rep. 2002 No. 20 |
|
|
R. 2.41.................................. |
am. 1997 No. 308 |
|
|
|
rep. 2002 No. 20 |
|
|
R. 2.42.................................. |
rep. 2002 No. 20 |
|
|
R. 2.43.................................. |
am. 1999 No. 13 |
|
|
|
rep. 2002 No. 20 |
|
|
R. 2.44.................................. |
am. 1997 No. 308 |
|
|
|
rep. 2002 No. 20 |
|
|
Div. 2.8 of Part 2.................. |
rep. 2002 No. 20 |
|
|
Rr. 2.45-2.47...................... |
rep. 2002 No. 20 |
|
|
Part 2A.................................. |
ad. 2002 No. 149 |
|
|
|
rep. 2004 No. 147 |
|
|
Rr. 2A.01-2A.07.................. |
ad. 2002 No. 149 |
|
|
|
rep. 2004 No. 147 |
|
|
Part 3 |
|
|
|
Division 3.1 |
|
|
|
R. 3.01.................................. |
am. 1999 No. 13; 2007 No. 104; 2009 No. 14 |
|
|
Note to r. 3.01 (1)................ |
rs. 1997 No. 308 |
|
|
Division 3.2 |
|
|
|
R. 3.05.................................. |
am. 2002 No. 352; 2005 No. 331 |
|
|
7R. 3.06A............................. |
ad. 1997 No. 308 |
|
|
R. 3.06B............................... |
ad. 1997 No. 308 |
|
|
Division 3.3 |
|
|
|
R. 3.07.................................. |
am. 2002 No. 20 |
|
|
R. 3.09.................................. |
am. 2002 No. 20 |
|
|
R. 3.12.................................. |
am. 1999 No. 315; 2002 No. 200 |
|
|
Part 4 |
|
|
|
Division 4.1 |
|
|
|
Subdivision 4.1.1 |
|
|
|
R. 4.01.................................. |
am. 1997 Nos. 150, 151, 294 and 342; 1998 Nos. 82, 176, 178 and 192; 1999 No. 13; 2002 No. 90; 2003 No. 41; 2005 Nos. 55 and 331; 2007 No. 104; 2008 No. 8; 2009 No. 14 |
|
|
R. 4.01A................................ |
ad. 2008 No. 8 |
|
|
R. 4.01B............................... |
ad. 2009 No. 14 |
|
|
R. 4.02.................................. |
rep. 1998 No. 176 |
|
|
R. 4.03.................................. |
rs. 1998 No. 176 |
|
|
Subdivision 4.1.2 |
|
|
|
R. 4.04.................................. |
am. 1997 No. 294; 1998 No. 176; 2005 No. 218 |
|
|
R. 4.05.................................. |
am. 1998 No. 176 |
|
|
R. 4.06.................................. |
rep. 1998 No. 176 |
|
|
R. 4.07.................................. |
rep. 1998 No. 176 |
|
|
R. 4.08.................................. |
am. 1998 No. 176 |
|
|
Subdivision 4.1.3 |
|
|
|
R. 4.09.................................. |
am. 1998 No. 176 |
|
|
R. 4.10.................................. |
rs. 1998 No. 176 |
|
|
|
am. 1999 No. 13; 2007 No. 104 |
|
|
R. 4.11.................................. |
rep. 1998 No. 176 |
|
|
R. 4.12.................................. |
rs. 1998 No. 176 |
|
|
Subdivision 4.1.4 |
|
|
|
R. 4.13.................................. |
am. 1997 No. 294; 1998 No. 176; 2004 No. 147; 2007 No. 104 |
|
|
R. 4.16.................................. |
rep. 1998 No. 176 |
|
|
Subdivision 4.1.5 |
|
|
|
R. 4.17.................................. |
rs. 2005 No. 331 |
|
|
R. 4.17A................................ |
ad. 1998 No. 82 |
|
|
R. 4.17B............................... |
ad. 2000 No. 279 |
|
|
|
rs. 2005 No. 330 |
|
|
R. 4.18.................................. |
am. 1998 Nos. 82 and 176 |
|
|
Division 4.2 |
|
|
|
R. 4.20.................................. |
rs. 2002 No. 352 |
|
|
|
am. 2005 No. 331; 2007 No. 104 |
|
|
R. 4.20A................................ |
ad. 2007 No. 104 |
|
|
Division 4.3 |
|
|
|
R. 4.21.................................. |
am. 1998 No. 176; 2007 No. 104 |
|
|
Note to r. 4.21 (1)................ |
ad. 2009 No. 14 |
|
|
R. 4.22.................................. |
am. 1998 No. 176; 2007 No. 104 |
|
|
Note to r. 4.22 (1)................ |
ad. 2009 No. 14 |
|
|
R. 4.22A................................ |
ad. 1997 No. 150 |
|
|
|
am. 1997 No. 342; 1998 No. 192; 2007 No. 104 |
|
|
R. 4.23.................................. |
am. 2007 No. 104 |
|
|
R. 4.23A................................ |
ad. 2002 No. 90 |
|
|
|
am. 2003 No. 41; 2007 No. 104; 2009 No. 14 |
|
|
Note to r. 4.23A (5)............. |
rs. 2007 No. 104; 2009 No. 14 |
|
|
R. 4.23B............................... |
ad. 2009 No. 14 |
|
|
R. 4.24.................................. |
am. 1998 No. 176; 1999 No. 13; 2002 Nos. 149 and 352; 2004 Nos. 147 and 348; 2007 No. 104 |
|
|
R. 4.26.................................. |
am. 2002 No. 352; 2007 No. 104; 2009 No. 14 |
|
|
R. 4.27.................................. |
am. 1998 No. 192 |
|
|
R. 4.28.................................. |
am. 2002 No. 352 |
|
|
Division 4.4 |
|
|
|
R. 4.30.................................. |
am. 1998 No. 192 |
|
|
R. 4.31.................................. |
am. 1999 No. 13 |
|
|
R. 4.32.................................. |
am. 1999 No. 13; 2002 No. 20 |
|
|
R. 4.33.................................. |
am. 1999 No. 13, 2002 No. 20 |
|
|
Division 4.4A |
|
|
|
Div. 4.4A of Part 4............... |
ad. 2007 No. 104 |
|
|
R. 4.35.................................. |
ad. 2007 No. 104 |
|
|
R. 4.35A................................ |
ad. 2007 No. 104 |
|
|
R. 4.35B............................... |
ad. 2007 No. 104 |
|
|
R. 4.35C............................... |
ad. 2007 No. 104 |
|
|
R. 4.35D............................... |
ad. 2007 No. 104 |
|
|
R. 4.35E............................... |
ad. 2007 No. 104 |
|
|
Division 4.5 |
|
|
|
Div. 4.5 of Part 4.................. |
ad. 2005 No. 331 |
|
|
R. 4.37.................................. |
ad. 2005 No. 331 |
|
|
|
am. 2007 No. 104 |
|
|
R. 4.38.................................. |
ad. 2005 No. 331 |
|
|
|
am. 2007 No. 104 |
|
|
R. 4.39.................................. |
ad. 2005 No. 331 |
|
|
|
am. 2007 No. 104 |
|
|
R. 4.40.................................. |
ad. 2005 No. 331 |
|
|
R. 4.41.................................. |
ad. 2005 No. 331 |
|
|
|
am. 2006 No. 188 |
|
|
Note to r. 4.41 (4)................ |
rs. 2007 No. 104 |
|
|
R. 4.42.................................. |
ad. 2005 No. 331 |
|
|
|
am. 2007 No. 104 |
|
|
R. 4.43.................................. |
ad. 2005 No. 331 |
|
|
Part 4A |
|
|
|
Part 4A.................................. |
ad. 2002 No. 352 |
|
|
Division 4A.1 |
|
|
|
R. 4A.01................................ |
ad. 2002 No. 352 |
|
|
R. 4A.01A............................. |
ad. 2004 No. 197 |
|
|
R. 4A.02................................ |
ad. 2002 No. 352 |
|
|
R. 4A.03................................ |
ad. 2002 No. 352 |
|
|
Division 4A.2 |
|
|
|
Heading to Div. 4A.2.......... |
rs. 2004 No. 197 |
|
|
R. 4A.04................................ |
ad. 2002 No. 352 |
|
|
|
am. 2004 Nos. 147 and 197 |
|
|
R. 4A.05................................ |
ad. 2002 No. 352 |
|
|
|
am. 2004 Nos. 147 and 197; 2006 No. 188 |
|
|
R. 4A.06................................ |
ad. 2002 No. 352 |
|
|
R. 4A.07................................ |
ad. 2002 No. 352 |
|
|
R. 4A.08................................ |
ad. 2002 No. 352 |
|
|
|
rs. 2004 No. 197 |
|
|
|
am. 2004 No. 147 |
|
|
R. 4A.09................................ |
ad. 2002 No. 352 |
|
|
R. 4A.10................................ |
ad. 2002 No. 352 |
|
|
R. 4A.11................................ |
ad. 2002 No. 352 |
|
|
|
am. 2004 No. 197; 2006 No. 188 |
|
|
R. 4A.12................................ |
ad. 2002 No. 352 |
|
|
R. 4A.13................................ |
ad. 2002 No. 352 |
|
|
R. 4A.14................................ |
ad. 2002 No. 352 |
|
|
Division 4A.3 |
|
|
|
R. 4A.15................................ |
ad. 2002 No. 352 |
|
|
|
am. 2004 No. 147 |
|
|
R. 4A.16................................ |
ad. 2002 No. 352 |
|
|
R. 4A.17................................ |
ad. 2002 No. 352 |
|
|
R. 4A.18................................ |
ad. 2002 No. 352 |
|
|
|
am. 2004 Nos. 147 and 197 |
|
|
R. 4A.19................................ |
ad. 2002 No. 352 |
|
|
R. 4A.20................................ |
ad. 2002 No. 352 |
|
|
R. 4A.21................................ |
ad. 2002 No. 352 |
|
|
|
am. 2004 No. 197 |
|
|
R. 4A.22................................ |
ad. 2002 No. 352 |
|
|
|
am. 2004 No. 197 |
|
|
R. 4A.23................................ |
ad. 2002 No. 352 |
|
|
|
am. 2004 No. 197 |
|
|
R. 4A.24................................ |
ad. 2002 No. 352 |
|
|
|
am. 2004 No. 197 |
|
|
Division 4A.4 |
|
|
|
R. 4A.25................................ |
ad. 2002 No. 352 |
|
|
|
am. 2004 No. 197; 2007 No. 104 |
|
|
R. 4A.26................................ |
ad. 2002 No. 352 |
|
|
|
rep. 2004 No. 197 |
|
|
R. 4A.27................................ |
ad. 2002 No. 352 |
|
|
|
am. 2004 Nos. 147 and 197 |
|
|
R. 4A.28................................ |
ad. 2002 No. 352 |
|
|
|
am. 2004 Nos. 147 and 197 |
|
|
Div. 4A.5 of Part 4A............. |
ad. 2002 No. 352 |
|
|
|
rep. 2004 No. 197 |
|
|
R. 4A.29................................ |
ad. 2002 No. 352 |
|
|
|
rep. 2004 No. 197 |
|
|
R. 4A.30................................ |
ad. 2002 No. 352 |
|
|
|
rep. 2004 No. 197 |
|
|
R. 4A.31................................ |
ad. 2002 No. 352 |
|
|
|
rep. 2004 No. 197 |
|
|
R. 4A.32................................ |
ad. 2002 No. 352 |
|
|
|
rep. 2004 No. 197 |
|
|
Part 5 |
|
|
|
R. 5.03.................................. |
am. 1997 No. 294; 2002 Nos. 149 and 352; 2004 Nos. 11 and 147; 2007 No. 104 |
|
|
|
rs. 2007 No. 104 |
|
|
|
am. 2007 No. 104 |
|
|
Note to r. 5.03 (6)................ |
ad. 2007 No. 104 |
|
|
Part 6 |
|
|
|
Division 6.1 |
|
|
|
R. 6.01.................................. |
am. 1998 No. 192 |
|
|
R. 6.02.................................. |
am. 1998 No. 192 |
|
|
R. 6.03.................................. |
am. 1998 No. 192 |
|
|
Division 6.3 |
|
|
|
Heading to Div. 6.3............. |
am. 1998 No. 192 |
|
|
R. 6.08.................................. |
am. 1998 No. 192 |
|
|
R. 6.09.................................. |
rep. 1999 No. 315 |
|
|
Division 6.4 |
|
|
|
R. 6.12.................................. |
am. 1998 No. 192; 2002 No. 20 |
|
|
R. 6.16A................................ |
ad. 2005 No. 149 |
|
|
R. 6.17.................................. |
rs. 2002 No. 352 |
|
|
R. 6.18.................................. |
am. 1998 No. 192 |
|
|
R. 6.20.................................. |
rep. 1998 No. 192 |
|
|
R. 6.21.................................. |
am. 1997 No. 242 |
|
|
|
rep. 1998 No. 192 |
|
|
Schedule 1 |
|
|
|
Heading to Schedule 1..... |
rs. 2005 No. 330 |
|
|
Schedule 1.......................... |
am. 2005 No. 330; 2009 Nos. 45 and 105 |
|
|
Schedule 1A |
|
|
|
Schedule 1A........................ |
ad. 2005 No. 330 |
|
|
|
am. 2009 Nos. 45 and. 105 |
|
|
Schedule 2 |
|
|
|
Heading to Schedule 2..... |
rs. 2008 No. 8 |
|
|
Schedule 2.......................... |
am. 1997 Nos. 150, 151 and 342; 1998 No. 192; 2002 No. 90; 2003 No. 41; 2005 No. 55; 2007 No. 104; 2008 No. 8; 2009 No. 14 |
|
|
Schedule 3.......................... |
ad. 2002 No. 90 |
|
|
|
am. 2005 No. 331 |
|
|
|
rep. 2009 No. 14 |
|
|
Schedule 4 |
|
|
|
Schedule 4.......................... |
ad. 2004 No. 147 |
|
|
|
am. 2005 No. 330; 2009 Nos. 45 and 105 |
|
|
Schedule 5 |
|
|
|
Schedule 5.......................... |
ad. 2007 No. 104 |
|
|
|
am. 2009 Nos. 45 and 105 |
|
Note 2
Regulation 4.01 -- Regulation 3.7 of the Statutory Rules 1998 No. 176 provides as follows:
3.7 Subregulation 4.01 (6)
Omit
restricted non‑preserved contributions,
The proposed amendment was misdescribed and is not incorporated in this compilation.
Table A Application, saving or transitional provisions
Statutory Rules 1997 No. 342
5 Application
5.1 The amendments made by regulation 2 and subregulation 4.2 do not apply in relation to an application made to an RSA provider before the commencement of these Regulations.
Table B Modifications
Modification declaration No 1
I, Brandon Khoo, a delegate of APRA under section 177 of the Act, DECLARE that subregulations 4.24(1) and 4.24(2) of the Regulations are to have effect in relation to RSA holders as if they were modified by inserting after subregulation 4.24(2):
"(2A) During the period 1 July 2004 to 30 June 2005, the benefits of an RSA holder (including the RSA holder's post‑65 employer financed benefits) are not required to be cashed in accordance with paragraph 4.24(1)(a) or 4.24(2)(a).
(2B) An RSA provider's failure to cash an RSA holder's benefits (including the RSA holder's post‑65 employer financed benefits) in accordance with paragraph 4.24(1)(a) or 4.24(2)(a) during the period 1 July 2004 to the date of commencement of Modification Declaration No 1 is not a breach of those paragraphs."
This Declaration commences on the date it is signed.
Dated 2 May 2005
[signed]
Brandon Khoo
Executive General Manager
Specialised Institutions Division
Interpretation
In this Declaration
Act means the Retirement Savings Accounts Act 1997
APRA means the Australian Prudential Regulation Authority
Regulations means the Retirement Savings Accounts Regulations 1997
Retirement Savings Account modification declaration No. 1 of 2006
I, Thomas Karp, a delegate of APRA, under section 177 of the Retirement Savings Account Act 1997 (the Act), DECLARE that regulation 4.24 of the Regulations has effect in relation to the class of persons described in the attached Schedule as if it were modified as specified in the attached Schedule.
The declaration comes into force upon registration on the Federal Register of Legislative Instruments.
Dated 29 June 2006
[signed]
... ... ... ... ... ... ... ... ...
Supervisory Support Division
Interpretation
In this instrument
APRA means the Australian Prudential Regulation Authority.
Federal Register of Legislative Instruments means the register established under section 20 of the Legislative Instruments Act 2003.
Regulations means the Retirement Savings Account Regulations 1997.
Note 1 This instrument is a legislative instrument for the purposes of the Legislative Instruments Act 2003 (the LIA) (see section 5 of the LIA). Under section 56 of the LIA, the obligation under section 180 of the Act, to publish this exemption in the Gazette, is satisfied by its registration on the Federal Register of Legislative Instruments.
Note 2 Under paragraph (l) of the definition of reviewable decision in section 16 of the Act, the decision to make this declaration is a reviewable decision. If you are dissatisfied with this decision, you may request APRA to reconsider it in accordance with subsection 189(1) of the Act. The request for reconsideration must be made in writing, must set out the reasons for making the request, and must be given to APRA within 21 days after the day on which you first received notice of this decision, or within such further period as APRA allows. If you are dissatisfied with the outcome of APRA's reconsideration of the decision, you may, subject to the Administrative Appeals Tribunal Act 1975, apply to the Administrative Appeals Tribunal for review of the reconsidered decision.
Note 3 The address where the request for reconsideration referred to in this instrument may be given to APRA, is Level 26, 400 George Street, Sydney, NSW 2000.
Schedule ‑ the class of persons to whom this declaration applies
RSA providers
Schedule ‑ the manner in which the specified modifiable provision is modified
Regulation 4.24 is to have effect in relation to RSA providers and holders as if it was modified, by inserting after subregulation 4.24(2B) (as inserted by Modification Declaration No 1):
"4.24(2C) During the period 10 May 2006 to 30 June 2007:
(i) the benefits of an RSA holder (other than the RSA holder's post‑65 employer‑financed benefits) are not required to be cashed in accordance with paragraphs 4.24(1)(a), 4.24(1)(b) or 4.24(1)(c); and
(ii) an RSA holder's post‑65 employer‑financed benefits are not required to be cashed in accordance with paragraphs 4.24(2)(a) or 4.24(2)(b).
4.24(2D) The cashing of an RSA holder's benefits (including the RSA holder's post‑65 employer‑financed benefits) by an RSA provider during the period 10 May 2006 to the date of registration of this modification declaration is not a breach of regulation 4.24 as modified.
Retirement Savings Account modification declaration No. 1 of 2007
Retirement Savings Account Act 1997
I, Wayne Byres, a delegate of APRA, under section 177 of the Retirement Savings Accounts Act 1997 (the Act), DECLARE that regulation 5.03 of the Regulations has effect in relation to the class of persons described in the attached Schedule as if it were modified as specified in the attached Schedule.
The declaration comes into force upon registration on the Federal Register of Legislative Instruments.
Dated 19 November 2007
[Signed]
Wayne Byres
Executive General Manager
Diversified Institutions Division
Interpretation
In this instrument
APRA means the Australian Prudential Regulation Authority.
Federal Register of Legislative Instruments means the register established under section 20 of the Legislative Instruments Act 2003.
Regulations means the Retirement Savings Accounts Regulations 1997.
This instrument is a legislative instrument for the purposes of the Legislative Instruments Act 2003 (the LIA) (see section 5 of the LIA). Under section 56 of the LIA, the obligation under section 180 of the Act, to publish this exemption in the Gazette, is satisfied by its registration on the Federal Register of Legislative Instruments.
Note 2 Under paragraph (l) of the definition of reviewable decision in section 16 of the Act, the decision to make this declaration is a reviewable decision. If you are dissatisfied with this decision, you may request APRA to reconsider it in accordance with subsection 189(1) of the Act. The request for reconsideration must be made in writing, must set out the reasons for making the request, and must be given to APRA within 21 days after the day on which you first received notice of this decision, or within such further period as APRA allows. If you are dissatisfied with the outcome of APRA's reconsideration of the decision, you may, subject to the Administrative Appeals Tribunal Act 1975, apply to the Administrative Appeals Tribunal for review of the reconsidered decision.
Note 3 The address where the request for reconsideration referred to in this instrument may be given to APRA, is Level 26, 400 George Street, Sydney, NSW 2000.
Schedule - the class of persons to whom this declaration applies
RSA providers
Schedule - the manner in which the specified modifiable provision is modified
Subregulation 5.03(4) of the Regulations is modified by:
1. replacing the word "and" at the end of subparagraph (a)(ii) with the word "or"
2. inserting after subparagraph (a)(ii):
"(iii) the amount was a government co-contribution payment in respect of a member contribution, where the member contribution was made prior to 1 July 2007; and"
Retirement Savings Account modification declaration No. 2 of 2007
Retirement Savings Account Act 1997
I, Wayne Byres, a delegate of APRA, under section 177 of the Retirement Savings Accounts Act 1997 (the Act) and subsection 33(3) of the Acts Interpretation Act 1901, VARY Retirement Savings Account modification declaration No.1 of 2007 dated 19 November 2007 in the manner set out in the Schedule.
The declaration comes into force upon registration on the Federal Register of Legislative Instruments.
Dated 4 December 2007
[Signed]
Wayne Byres
Executive General Manager
Diversified Institutions Division
Interpretation
In this instrument:
APRA means the Australian Prudential Regulation Authority.
Federal Register of Legislative Instruments means the register established under section 20 of the Legislative Instruments Act 2003.
Regulations means the Retirement Savings Accounts Regulations 1997.
Note 1 This instrument is a legislative instrument for the purposes of the Legislative Instruments Act 2003 (the LIA) (see section 5 of the LIA). Under section 56 of the LIA, the obligation under section 180 of the Act, to publish this exemption in the Gazette, is satisfied by its registration on the Federal Register of Legislative Instruments.
Note 2 Under paragraph (l) of the definition of reviewable decision in section 16 of the Act, the decision to make this declaration is a reviewable decision. If you are dissatisfied with this decision, you may request APRA to reconsider it in accordance with subsection 189(1) of the Act. The request for reconsideration must be made in writing, must set out the reasons for making the request, and must be given to APRA within 21 days after the day on which you first received notice of this decision, or within such further period as APRA allows. If you are dissatisfied with the outcome of APRA's reconsideration of the decision, you may, subject to the Administrative Appeals Tribunal Act 1975, apply to the Administrative Appeals Tribunal for review of the reconsidered decision.
Note 3 The address where the request for reconsideration referred to in this instrument may be given to APRA, is Level 26, 400 George Street, Sydney, NSW 2000.
Schedule
Retirement Savings Account modification declaration No.1 of 2007 is varied:
(i) in the Schedule - the class of persons to whom this declaration applies, by omitting the words "RSA providers" and replacing them with the words "RSA institutions"; and
(ii) in the Schedule - the manner in which the specified modifiable provision is modified, by omitting the words "a member" and replacing them with the words "an RSA holder" and by omitting the words "the member" and replacing them with the words "the RSA holder".