Document ID: chunk:federal_register_of_legislation:F2024C01224:front:0:p24
Version: federal_register_of_legislation:F2024C01224
Segment Type: other
Provision Reference: 
Character Range: 58246–62703

holder to a greater degree than is required by this Part, if the RSA provider does so in a way that is consistent with this Part.
Note: For example, an RSA provider might choose to protect the benefits of all RSA holders with withdrawal benefits less than $1,500, rather than all protected RSA holders (ie, broadly, RSA holders with withdrawal benefits less than $1,000) as this Part requires. 'Protected RSA holder' is defined in regulation 1.03.

Division 3.2—Treatment of benefits

3.03  Operating standards
  For the purposes of subsection 38(1) of the Act, a requirement of this Division is a standard applicable to the operation of RSAs.

3.04  Minimum benefits
  All of the benefits of the holder of an RSA in the RSA are minimum benefits.

3.05  How benefits are to be treated
 (1) An RSA provider must ensure that the benefits of an RSA holder are maintained until the benefits are:
 (a) cashed (in accordance with Division 4.3) as benefits of the RSA holder, other than for the purpose of the RSA holder's temporary incapacity; or
 (b) cashed under Part 4A; or
 (c) rolled over or transferred, as benefits of the RSA holder, or under Part 4A; or
 (d) transferred, rolled over or allotted under Division 4.5.
 (2) Subregulation (1) does not apply if, under a law of the Commonwealth, a State or a Territory mentioned in the table, a court makes a forfeiture order (however called) forfeiting part or all of the benefits of the RSA holder to the Commonwealth, a State or a Territory

Item                          Law                                         Provision(s)
Commonwealth
1.1                           Proceeds of Crime Act 2002                  Section 47
                                                                          Section 48
                                                                          Section 49
                                                                          Section 92
New South Wales
2.1                           Confiscation of Proceeds of Crime Act 1989  Subsection 18(1)
2.2                           Criminal Assets Recovery Act 1990           Section 22
Victoria
3.1                           Confiscation Act 1997                       Division 1 of Part 3
                                                                          Section 35
                                                                          Part 4
                                                                          Subsection 157(6)
Queensland
4.1                           Criminal Proceeds Confiscation Act 2002     Section 58
                                                                          Section 58A
                                                                          Section 151
                                                                          Part 5 of Chapter 3
Western Australia
5.1                           Criminal Property Confiscation Act 2000     Section 30, to the extent that it applies to confiscation under section 6 in satisfaction of a person's liability under section 20
                                                                          Section 30, to the extent that it applies to confiscation under section 7
South Australia
6.1                           Criminal Assets Confiscation Act 2005       Section 47
Tasmania
7.1                           Crime (Confiscation of Profits) Act 1993    Section 16
Australian Capital Territory
8.1                           Confiscation of Criminal Assets Act 2003    Section 54
                                                                          Section 58
                                                                          Section 62
                                                                          Section 67
Northern Territory
9.1                           Criminal Property Forfeiture Act 2002       Section 75
                                                                          Section 76
                                                                          Section 80
                                                                          Section 96
                                                                          Section 97
                                                                          Section 99

3.06  Mandated employer contributions
 (1) Subject to this regulation, contributions to an RSA are taken to be mandated employer contributions.