Commonwealth Consolidated Regulations

RETIREMENT SAVINGS ACCOUNTS REGULATIONS 1997 - REG 4.35E

         (1)   An RSA provider may refuse to roll over or transfer an amount under regulation 4.35D if:

                (a)    the fund or RSA to which the RSA holder has requested the amount is be rolled over or transferred will not accept the amount; or

               (b)    the amount to be rolled over or transferred is part only of the RSA holder's interest in the fund, and the effect of rolling over or transferring the amount would be that the RSA holder's interest in the fund from which the amount is to be rolled over or transferred would be less than $5 000; or

                (c)    the RSA provider has, under regulation 4.35D, rolled over or transferred an amount of the RSA holder's interest within 12 months before the request is received.

         (2)   If an RSA provider refuses to roll over or transfer an amount under subregulation (1), the RSA provider must tell the RSA holder of the refusal in writing.