Commonwealth Consolidated Regulations

RETIREMENT SAVINGS ACCOUNTS REGULATIONS 1997 - REG 4.17B

         (1)   An investment earning in relation to a benefit of any kind is an unrestricted non‑preserved benefit on a day if:

                (a)    the benefit was cashed, before that day, in the form of a non‑commutable life pension; and

               (b)    for a benefit that was commenced under the condition of release mentioned in item 108B of Schedule 2, the pensioner has satisfied a condition of release in respect of which the cashing restriction for preserved benefits and restricted non‑preserved benefits is 'Nil'; and

                (c)    the pension commenced to be paid before that day.

         (2)   An investment earning in relation to a benefit of any kind is an unrestricted non‑preserved benefit on a day if:

                (a)    the benefit was cashed, before that day, in the form of a non‑commutable life annuity; and

               (b)    for a benefit that was commenced under the condition of release mentioned in item 108B of Schedule 2, the annuitant has satisfied a condition of release in respect of which the cashing restriction for preserved benefits and restricted non‑preserved benefits is 'Nil'; and

                (c)    the annuity commenced to be paid before that day.

         (3)   An investment earning in relation to a benefit is an unrestricted non‑preserved benefit on a day if:

                (a)    the benefit is an unrestricted non‑preserved benefit; and

               (b)    the benefit was cashed, before that day, in the form of a pension; and

                (c)    for a benefit that was commenced under the condition of release mentioned in item 108B of Schedule 2, the pensioner has satisfied a condition of release in respect of which the cashing restriction for preserved benefits and restricted non‑preserved benefits is 'Nil'; and

               (d)    the pension commenced to be paid before that day.

         (4)   An investment earning in relation to a benefit is an unrestricted non‑preserved benefit on a day if:

                (a)    the benefit is an unrestricted non‑preserved benefit; and

               (b)    the benefit was cashed, before that day, in the form of an annuity; and

                (c)    for a benefit that was commenced under the condition of release mentioned in item 108B of Schedule 2, the annuitant has satisfied a condition of release in respect of which the cashing restriction for preserved benefits and restricted non‑preserved benefits is 'Nil'; and

               (d)    the annuity commenced to be paid before that day.