Document ID: chunk:federal_register_of_legislation:F2024C01224:front:0:p41
Version: federal_register_of_legislation:F2024C01224
Segment Type: other
Provision Reference: 
Character Range: 104363–107046

cashed on or after the satisfaction by the RSA holder of a condition of release.
Note: For conditions of release for temporary residents, see regulation 4.01B.
 (2) The amount of preserved benefits that may be cashed in accordance with subregulation (1) must not exceed the sum of:
 (a) the amount of preserved benefits of the RSA holder that had accrued at the time when the RSA holder satisfied the condition of release; and
 (b) before 1 July 1999—the amount of any investment earnings accruing on those benefits from the time when the RSA holder satisfied the condition of release.
 (3) Subject to subregulation (4), the form in which preserved benefits may be cashed under this regulation is, unless the satisfied condition of release is the death of the RSA holder:
 (a) a form (if any) specified in Schedule 2 as a cashing restriction relating to the condition of release; or
 (b) if the specified cashing restriction is 'Nil'—any 1 or more of the following forms:
 (i) 1 or more lump sums;
 (ii) 1 or more pensions;
 (iii) the purchase of 1 or more annuities under the SIS Regulations.
Note: For the cashing requirement applying on the death of the RSA holder, see regulation 4.24.
 (4) A lump sum mentioned in subparagraph (3)(b)(i) must be payable not later than the time for the payment of a lump sum mentioned in paragraph 4.24(3)(a).

4.22  Voluntary cashing of restricted non‑preserved benefits
 (1) The restricted non‑preserved benefits of an RSA holder may be cashed on or after the satisfaction by the RSA holder of a condition of release.
Note: For conditions of release for temporary residents, see regulation 4.01B.
 (2) The amount of restricted non‑preserved benefits that may be cashed in accordance with subregulation (1) must not exceed the amount of:
 (a) the restricted non‑preserved benefits of the RSA holder that had accrued at the time when the RSA holder satisfied the condition of release; and
 (b) before 1 July 1999—any investment earnings accruing on those benefits from the time when the RSA holder satisfied the condition of release.
 (3) Subject to subregulation (4), the form in which restricted non‑preserved benefits may be cashed under this regulation is, unless the satisfied condition of release is the death of the RSA holder:
 (a) a form (if any) specified in Schedule 2 as a cashing restriction relating to the condition of release; or
 (b) if the specified cashing restriction is 'Nil'—any 1 or more of the following forms:
 (i) 1 or more lump sums;
 (ii) 1 or more pensions;
 (iii) the purchase of 1 or more annuities under the SIS Regulations.
Note: For the cashing requirement applying on the death of the RSA holder, see regulation