Commonwealth Consolidated Regulations Commonwealth Consolidated Regulations(1) A protected member is a member of a regulated superannuation fund who has a withdrawal benefit, or a benefit of any other type that is payable on leaving the fund otherwise than voluntarily (not including any applicable exit fee), that:
(a) is less than $1 000; and
(b) contains, or contained, benefits that are mandated employer‑financed benefits (within the meaning of subregulation 5.01 (1)).
(2) An excluded member is not a protected member.
(3) If the
trustee of a regulated superannuation fund has rolled
over or transferred an
amount that is the whole or part
of a member's withdrawal benefit to another
regulated superannuation fund or to an approved deposit fund, RSA or EPSSS in
accordance with Division 6.5, the member is not a protected member of the fund
from which the amount was rolled over or transferred.
(4) For subregulation (1), a benefit in a fund is taken to contain or to have contained mandated employer‑financed benefits unless:
(a) if the benefits arose in relation to contributions made before 1 July 1995 -- the trustee of the fund reasonably believes otherwise; or
(b) if the benefits arose in relation to contributions made on or after 1 July 1995 -- the trustee of the fund knows otherwise.