SUPERANNUATION INDUSTRY (SUPERVISION) REGULATIONS 1994 - REG 6.12 Movement of benefits between categories by satisfaction of conditions of release

SUPERANNUATION INDUSTRY (SUPERVISION) REGULATIONS 1994 - REG 6.12

  (1)   If:

  (a)   a member of a regulated superannuation fund or an approved deposit fund satisfies a condition of release; and

  (b)   the relevant cashing restriction in respect of preserved benefits is 'Nil';

the member's preserved benefits in the fund at that time cease to be preserved benefits and become unrestricted non - preserved benefits.

  (2)   If:

  (a)   a member of a regulated superannuation fund satisfies a condition of release; and

  (b)   the relevant cashing restriction in respect of restricted non - preserved benefits is 'Nil';

the member's restricted non - preserved benefits in the fund at that time cease to be restricted non - preserved benefits and become unrestricted non - preserved benefits.

  (3)   This regulation has effect subject to Subdivision   6.1.5.