Document ID: chunk:federal_register_of_legislation:F2025C00069:reg:3:p20
Version: federal_register_of_legislation:F2025C00069
Segment Type: reg
Provision Reference: reg 3 (pt 20/66)
Character Range: 275134–277900

rules of a superannuation fund that:
 (a) meet the standards of subregulation 1.06(4); and
 (b) ensure that, if the pension is commuted, the resulting superannuation lump sum cannot be cashed unless:
 (i) the purpose of the commutation is mentioned in subregulation (2); or
 (ii) before commutation, the pensioner has satisfied a condition of release in respect of which the cashing restriction for preserved benefits and restricted non‑preserved benefits is "Nil"; or
 (iii) the purpose of the commutation is to satisfy an obligation to pay an amount to the Commissioner of Taxation under subsection 20F(1) of the Superannuation (Unclaimed Money and Lost Members) Act 1999.
 (2) For subparagraph (1)(b)(i), the purpose is any of the following:
 (a) to cash an unrestricted non‑preserved benefit;
 (b) to pay a superannuation contributions surcharge;
 (c) to give effect to an entitlement of a non‑member spouse under a payment split;
 (d) to ensure that a payment may be made under Division 131 or 135 in Schedule 1 to the Taxation Administration Act 1953, or section 292‑80C of the Income Tax (Transitional Provisions) Act 1997, for the purpose of giving effect to a release authority.

6.01A  Meaning of terminal medical condition
  For Schedule 1, a terminal medical condition exists in relation to a person at a particular time if the following circumstances exist:
 (a) two registered medical practitioners have certified, jointly or separately, that the person suffers from an illness, or has incurred an injury, that is likely to result in the death of the person within a period (the certification period) that ends not more than 24 months after the date of the certification;
 (b) at least one of the registered medical practitioners is a specialist practicing in an area related to the illness or injury suffered by the person;
 (c) either:
 (i) if there is one certification period—the certification period has not ended; or
 (ii) otherwise—neither of the certification periods has ended.

6.01B  Conditions of release for temporary residents
 (1) This regulation applies to a member who is or was a temporary resident.
 (2) This regulation does not apply to a member who:
 (a) is an Australian citizen, a New Zealand citizen or a permanent resident; or
 (b) is, at any time, the holder of a Subclass 405 (Investor Retirement) visa or a Subclass 410 (Retirement) visa described in Schedule 2 to the Migration Regulations 1994.
 (3) The only conditions of release that can be satisfied in respect of a member to whom this regulation applies are:
 (a) a condition of release that was satisfied by the member before 1 April 2009; and
 (b) the conditions of release in items 102, 102A, 103, 103A, 103B, 107A, 109, 111A, 111B, 113A, 202, 202A, 203, 204, 204A,