Document ID: chunk:federal_register_of_legislation:C2018C00085:clause:1_36
Version: federal_register_of_legislation:C2018C00085
Segment Type: clause
Provision Reference: sch 1 cl 36
Character Range: 34315–35032

36  Subsection 96‑25(2) in Schedule 1
Repeal the subsection, substitute:
 (2) A *superannuation provider issued with a release authority under section 96‑12 may, within 21 days after the release authority is issued (or a further period allowed by the Commissioner), pay to the individual the lesser of:
 (a) the amount stated in the release authority; and
 (b) the sum of the *maximum available release amounts for each *defined benefit interest held by the superannuation provider for the individual in *superannuation plans.
 (3) For the purposes of paragraph (1)(a) or (2)(a), reduce the amount mentioned in that paragraph by any amount the provider pays under section 96‑20 in relation to the release authority.