Document ID: chunk:federal_register_of_legislation:F2008L02863:body:0:p10
Version: federal_register_of_legislation:F2008L02863
Segment Type: other
Provision Reference: 
Character Range: 24246–27157

paid a lump sum of his/her preserved benefit plus the superannuation guarantee additional amount (if any) that is applicable to the preserved benefit member."

4.37 Rule 8.2.4 is replaced with the following Rule:

    "8.2.4  A preserved benefit member whose preserved benefit has become payable under Rule 8.1.1 on the date the Board is satisfied his/her intention to leave Australia permanently is certain, is to be paid a lump sum of his/her preserved benefit plus the superannuation guarantee additional amount (if any) that is applicable to the preserved benefit member."

4.38 The following Rules are to be inserted immediately following Rule 8.3.5:

    "8.3.5A The total amount of any lump sum or lump sums paid under Rule 8.3.5 may not exceed the preserved benefit plus the superannuation guarantee additional amount (if any) that is applicable to the preserved benefit member.

    8.3.5B  Where the total amount of the lump sum or lump sums paid under Rule 8.3.5 is greater or equal to the preserved benefit but less than the amount of preserved benefit plus the superannuation guarantee additional amount (if any), the balance of the superannuation guarantee additional amount (if any) is to be treated as a preserved benefit under the SIS Act and dealt with accordingly."

4.39 The following Rules are to be inserted immediately following Rule 8.3.6:

    "8.3.6A The total amount of any lump sum or lump sums paid under Rule 8.3.6 may not exceed the preserved benefit plus the superannuation guarantee additional amount (if any) that is applicable to the preserved benefit member.

    8.3.6B  Where the total amount of the lump sum or lump sums paid under Rule 8.3.6 is greater or equal to the preserved benefit but less than the amount of preserved benefit plus the superannuation guarantee additional amount (if any), the balance of the superannuation guarantee additional amount (if any) is to be treated as a preserved benefit under the SIS Act and dealt with accordingly."
4.40 Rule 8.4.3 is amended by deleting the existing paragraph (c ) and substituting the following new paragraph (c):

         "(c) to roll-over his/her preserved benefit plus the superannuation guarantee additional amount (if any) that is applicable to the preserved benefit member, with any amount that exceeds the member's accumulated member contributions being treated as a preserved benefit for the purposes of the SIS Act; or"

4.41 Rule 8.4.3 is further amended by deleting the existing subparagraph (d)(ii) and substituting the following new subparagraph (d)(ii):
              "(ii) roll-over the balance of his/her preserved benefit plus the superannuation guarantee additional amount (if any) that is applicable in respect of the preserved benefit member, with any amount that exceeds the member's accumulated member contributions being treated as a preserved benefit for the purposes of the