Document ID: chunk:federal_register_of_legislation:F2024C01224:front:0:p45
Version: federal_register_of_legislation:F2024C01224
Segment Type: other
Provision Reference: 
Character Range: 114242–116921

(4) For the purposes of subregulation (3), treat a revoked determination as not having been made.
 (5) A determination under this regulation must specify the RSA or RSAs and the amount of the preserved benefits, or restricted non‑preserved benefits, that may be released from each specified RSA. The sum of the amounts specified in a determination must not exceed $10,000.
 (6) If the Regulator makes a determination under this regulation, the Regulator must give a copy of the determination to the person and the RSA provider of each specified RSA.

4.23  Voluntary cashing of unrestricted non‑preserved benefits
 (1) The unrestricted non‑preserved benefits of an RSA holder may be cashed at any time.
 (2) The amount of unrestricted non‑preserved benefits that may be cashed in accordance with subregulation (1) is the whole or part of the RSA holder's unrestricted non‑preserved benefits.
 (3) Subject to subregulation (4), the form in which unrestricted non‑preserved benefits may be cashed under this regulation is, unless the cashing occurs in consequence of the death of the RSA holder, any 1 or more of the following forms:
 (a) 1 or more lump sums;
 (b) 1 or more pensions;
 (c) 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 paragraph (3)(a) must be payable not later than the time for the payment of a lump sum mentioned in paragraph 4.24(3)(a).

4.23A  Compulsory cashing of benefits—temporary residents
 (1) This regulation applies to the benefits of an RSA holder if:
 (a) the RSA holder:
 (i) was a temporary resident; and
 (ii) is not an Australian citizen, New Zealand citizen or permanent resident; and
 (iii) has left Australia; and
 (b) the RSA holder's visa has ceased to be in effect.
 (1A) The RSA holder's benefits must be cashed if:
 (a) the RSA provider receives a request from the RSA holder that the benefits be cashed; and
 (b) subregulation (2) or (3) is complied with.
 (2) If the RSA holder's withdrawal benefit in the RSA is less than $5 000, the RSA provider must receive:
 (a) a copy, or other evidence, of a visa showing that the RSA holder was a temporary resident but the RSA holder's temporary visa has ceased to be in effect; and
 (b) a copy of the RSA holder's passport showing that the RSA holder has left Australia.
Note: For the ways of giving evidence of a visa, see regulation 2.17 of the Migration Regulations 1994.
 (3) The RSA provider must be satisfied, based on a written statement from the Department administered by the Minister administering the Migration Act 1958, that:
 (a) the RSA