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SUPERANNUATION INDUSTRY (SUPERVISION) REGULATIONS 1994 - REG 7A.09 Giving effect to request

SUPERANNUATION INDUSTRY (SUPERVISION) REGULATIONS 1994 - REG 7A.09

Giving effect to request

  (1)   This regulation applies if a trustee receives a request under this Division within the time allowed under regulation   7A.08.

  (2)   The trustee must give effect to the request unless:

  (a)   the trustee has received an earlier request under this Division in respect of the same interest and the earlier request has not been withdrawn; or

  (b)   for a request under regulation   7A.05:

  (i)   the regulated superannuation fund in which the non - member spouse interest is held has no more than 6 members; or

  (ii)   the governing rules of the regulated superannuation fund or approved deposit fund in which the original interest is held do not allow a new interest to be created for the non - member spouse in the fund; or

  (c)   for a request under regulation   7A.06--the regulated superannuation fund, approved deposit fund, EPSSS or RSA specified in the request does not accept the rollover or transfer of benefits for the non - member spouse.

  (3)   If subparagraph   (2)(b)(i) applies in relation to a request, the trustee must:

  (a)   create the new interest in accordance with the request; or

  (b)   roll over or transfer the transferable benefits to another regulated superannuation fund, approved deposit fund, EPSSS or RSA nominated by the non - member spouse; or

  (c)   if there has been no such nomination by the non - member spouse--consider whether it would be in the best interests of the non - member spouse to pay the amount of the transferable benefits to the Commissioner under section   22 of the Superannuation (Unclaimed Money and Lost Members) Act 1999 .

  (3A)   If subparagraph   (2)(b)(ii), or paragraph   (2)(c), applies in relation to a request, the trustee must:

  (a)   roll over or transfer the transferable benefits to another regulated superannuation fund, approved deposit fund, EPSSS or RSA nominated by the non - member spouse; or

  (b)   if there has been no such nomination by the non - member spouse--consider whether it would be in the best interests of the non - member spouse to pay the amount of the transferable benefits to the Commissioner under section   22 of the Superannuation (Unclaimed Money and Lost Members) Act 1999 .

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