Document ID: chunk:federal_register_of_legislation:F2024C01224:front:0:p33
Version: federal_register_of_legislation:F2024C01224
Segment Type: other
Provision Reference: 
Character Range: 82439–85322

purposes of Schedule 2, an RSA holder is taken to have satisfied a condition of release if the event specified in that condition has occurred in relation to the RSA holder.
 (6) A reference in this Part to 'preserved benefits', 'restricted non‑preserved benefits', 'restricted non‑preserved contributions', 'unrestricted non‑preserved benefits' and 'post‑65 employer‑financed benefits' includes benefits, rolled over, or transferred, from a superannuation entity or an EPSSS.

4.01AA  Meaning of non‑commutable allocated pension
 (1) In this Part and Schedule 2, non‑commutable allocated pension means a pension provided under the terms and conditions of an RSA that:
 (a) meet the standards of subregulation 1.07(2); 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.

4.01A  Meaning of terminal medical condition
  For Schedule 2, 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.

4.01B  Conditions of release for temporary residents
 (1) This regulation applies to an RSA holder who is or was a temporary resident.
 (2) This regulation does not apply to an RSA holder who:
 (a) is an Australian citizen, a New Zealand citizen or a