SUPERANNUATION INDUSTRY (SUPERVISION) REGULATIONS 1994 - REG 12A.12 Conditions of release
SUPERANNUATION INDUSTRY (SUPERVISION) REGULATIONS 1994 - REG 12A.12
Conditions of release(1) For the purposes of implementing the Arrangement, Schedule 1 to these Regulations, as affected by this regulation, applies in relation to a New Zealand - sourced amount in a complying superannuation fund in the same way it would apply to any other amount in the fund.
Note: In order to implement the Arrangement, it is appropriate that a New Zealand - sourced amount in a complying superannuation fund is subject to Australia's conditions of release, apart from any differences required by the Arrangement.
(2) The application of Schedule 1 is modified to the extent necessary to ensure that:
(a) the New Zealand - sourced amount is not subject to the conditions of release in items 101 and 110 of the Schedule; and
(b) item 106 of the Schedule applies to the New Zealand -
sourced amount as if the reference in the item to a person's age were the
age specified in subsection 7(1) of the New Zealand Superannuation and
Retirement Income Act 2001 of New Zealand.