not a breach of regulation 4.24 as modified
Reference: RSA Modification Declaration 2006/1
Document type: Retirement Savings Account Act modification declaration No. 1 of 2006
Enabling act: Retirement Savings Account Act 1997
Date of issue: 29 June 2006
Signatory: Thomas Karp Executive General Manager Supervisory Support Division
Registration number: F2006L02133
Registration date: 30 June 2006


The declaration comes into force upon registration on the Federal Register of Legislative Instruments. | In this Instrument | APRA means the Australian Prudential Regulation Authority. | Federal Register of Legislative Instruments means the register established under section 20 of the Legislative Instruments Act 2003 . | Regulations means the Retirement Savings Account Regulations 1997 . | RSA providers | Regulation 4.24 is to have effect in relation to RSA providers and holders as if it was modified, by inserting after subregulation 4.24(2B) (as inserted by Modification Declaration No 1): "4.24(2C) During the period 10 May 2006 to 30 June 2007: (i) the benefits of an RSA holder (other than the RSA holder's post-65 employer-financed benefits) are not required to be cashed in accordance with paragraphs 4.24(1)(a), 4.24(1)(b) or 4.24(1)(c); and (ii) an RSA holder's post-65 employer-financed benefits are not required to be cashed in accordance with paragraphs 4.24(2)(a) or 4.24(2)(b). 4.24(2D) The cashing of an RSA holder's benefits (including the RSA holder's post-65 employer-financed benefits) by an RSA provider during the period 10 May 2006 to the date of registration of this modification declaration is not a breach of regulation 4.24 as modified. | "4.24(2C) During the period 10 May 2006 to 30 June 2007: (i) the benefits of an RSA holder (other than the RSA holder's post-65 employer-financed benefits) are not required to be cashed in accordance with paragraphs 4.24(1)(a), 4.24(1)(b) or 4.24(1)(c); and (ii) an RSA holder's post-65 employer-financed benefits are not required to be cashed in accordance with paragraphs 4.24(2)(a) or 4.24(2)(b). 4.24(2D) The cashing of an RSA holder's benefits (including the RSA holder's post-65 employer-financed benefits) by an RSA provider during the period 10 May 2006 to the date of registration of this modification declaration is not a breach of regulation 4.24 as modified. | (i) the benefits of an RSA holder (other than the RSA holder's post-65 employer-financed benefits) are not required to be cashed in accordance with paragraphs 4.24(1)(a), 4.24(1)(b) or 4.24(1)(c); and (ii) an RSA holder's post-65 employer-financed benefits are not required to be cashed in accordance with paragraphs 4.24(2)(a) or 4.24(2)(b).