Commonwealth Consolidated Regulations

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RETIREMENT SAVINGS ACCOUNTS REGULATIONS 1997 - REG 4A.03

RSA provider to give payment split notice

         (1)   If an RSA interest becomes subject to a payment split, the RSA provider must notify the member spouse and the non‑member spouse in relation to the interest that the interest is subject to a payment split.

         (2)   The notice must:

                (a)    be in writing; and

               (b)    state the date on which it is given.

         (3)   The notice must be given:

                (a)    for a payment split under a superannuation agreement or flag lifting agreement -- within 28 days after the operative time for the payment split; and

               (b)    for a payment split under a splitting order -- by the later of:

                          (i)    the end of 28 days after the operative time for the payment split; and

                         (ii)    the end of 28 days after the RSA provider receives a copy of the order.

         (4)   Despite subregulation (1), the RSA provider is not required to give a payment split notice in respect of an RSA interest if the interest ceases to be subject to the payment split:

                (a)    before the end of the period applying under subregulation (3); and

               (b)    for a reason other than the creation of a non‑member spouse interest under regulation 4A.05.

Note    A non‑member spouse may also be entitled to information under section 1017C of the Corporations Act 2001 and Division 2.3A.



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