Document ID: chunk:federal_register_of_legislation:F2008L02863:body:0:p3
Version: federal_register_of_legislation:F2008L02863
Segment Type: other
Provision Reference: 
Character Range: 5168–8253

subparagraph (a)(ii) and substituting the following new subparagraph (a)(ii):

              "(ii) roll-over the balance of his/her final benefit plus the superannuation guarantee additional amount (if any) that is applicable in respect of the 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"

    4.7 Rule 6.3.2 is further amended deleting paragraph (c) and substituting it with the following new paragraph:

              "(c) to roll-over his/ her final benefit accrual plus the superannuation guarantee additional amount (if any) that is applicable in respect of the 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"

    4.8 Rule 6.3.3 is amended by deleting the existing paragraph (a) and substituting it with the following new paragraphs:

"(a) to be paid a lump sum calculated under Rule 6.3.3A, and:

              (i)                 leave the balance, if any, of his or her final benefit accrual in the scheme as a preserved benefit; or

              (ii)               roll-over the balance, if any, of his/her final benefit accrual plus the superannuation guarantee additional amount (if any) that is applicable in respect of the member; or

              (iii)            if the balance is 50% or more of his/her final benefit accrual, convert the balance into a pension; or

         (aa) to be paid a lump sum of less than the part of his/her final benefit accrual that is permitted to be paid in cash under the SIS Act; and:

                  (i)                                          leave the balance of his/her final benefit accrual in the scheme as a preserved benefit; or

                  (ii)                                       roll-over the balance of his/her final benefit accrual plus the superannuation guarantee additional amount (if any) that is applicable in respect of the member; or

                  (iii)                                     if the balance is 50% or more of his/her final benefit accrual, convert the balance into a pension; or"

    4.9 Rule 6.3.3 is further amended by deleting the existing paragraph (c) and substituting the following new paragraph (c):

         "(c) to roll-over his/her final benefit accrual plus the superannuation guarantee additional amount (if any) that is applicable in respect of the member; or".

4.10 The following Rule is to be inserted immediately following Rule 6.3.3:

    "6.3.3A For the purposes of Rule 6.3.3(a) where:

              (a)                the SIS Act permits the total of the final benefit accrual to be paid in cash, the lump sum is the final benefit accrual in respect of the member plus the superannuation guarantee additional amount (if any) that is applicable in respect of the member; or

              (b)               the SIS Act does not permit the total of the final benefit accrual to be paid in cash, the lump sum is the amount