Commonwealth Consolidated Regulations

RETIREMENT SAVINGS ACCOUNTS REGULATIONS 1997 - REG 4A.14

         (1)   This regulation applies if, to give effect to a request under regulation 4A.08, the RSA provider pays to the non‑member spouse, as a lump sum, the withdrawal benefit from the non‑member spouse interest.

         (2)   The RSA provider must pay the lump sum within:

                (a)    90 days after receiving the request under regulation 4A.08; or

               (b)    any longer period allowed by the Regulator.

         (3)   The RSA provider must give to the non‑member spouse, within 28 days after the lump sum is paid, a written notice stating:

                (a)    that the lump sum has been paid; and

               (b)    the amount that was paid.