Document ID: chunk:federal_register_of_legislation:F2022C00514:reg:11zc
Version: federal_register_of_legislation:F2022C00514
Segment Type: reg
Provision Reference: reg 11ZC
Character Range: 55682–56631

11ZC  Payment of benefits
 (1) This rule applies if a person requests CSC to withdraw some or all of the units that are held in an Investment Division, or Investment Divisions, for the benefit of the person to make a payment of a benefit that is payable under these Rules in relation to the person.
 (2) The withdrawal price of the units is:
 (a) if the request is received by CSC after the day on which the person ceases to be a member—the withdrawal price of the units for the day when CSC receives the application; and
 (b) if the request is received by CSC before the end of the day on which the person ceases to be a member—the withdrawal price of the units for the day after the person ceases to be a member.
 (3) However, CSC may:
 (a) refuse the request if it would be contrary to a law of the Commonwealth, a State or a Territory to act in accordance with the request; or
 (b) suspend the withdrawal of units in accordance with rule 11ZD.