Document ID: chunk:federal_register_of_legislation:F2024C01224:front:0:p22
Version: federal_register_of_legislation:F2024C01224
Segment Type: other
Provision Reference: 
Character Range: 53348–55951

Act 2001, Divisions 4 and 5 of Part 5 of the Act (as in force immediately before the FSR commencement) continue to apply to and in relation to the RSA.
Note: Regulation 7.9.89 of the Corporations Regulations 2001 requires an RSA provider that is a product issuer to provide information to a non‑member spouse in relation to an RSA issued under a payment split.

2.18B  Operating standards
  For subsection 38(1) of the Act, a requirement of this Division is a standard applicable to the operation of RSAs.

2.18C  Information to be provided by RSA provider—growth phase
 (1) This regulation applies if:
 (a) an RSA interest is subject to a base amount payment split; and
 (b) the interest is in the growth phase; and
 (c) none of the following has occurred as a result of a payment split:
 (i) a new RSA was opened for the non‑member spouse;
 (ii) the transferable benefits of the non‑member spouse were transferred or rolled out of the RSA;
 (iii) the amount to which the non‑member spouse is entitled under the payment split was paid, as a lump sum, to the non‑member spouse.
 (2) The RSA provider must give to the member spouse and the non‑member spouse the following information for each reporting period:
 (a) the value of the adjusted base amount applicable to the non‑member spouse at the end of the reporting period;
 (b) the amount of the adjustment in the reporting period;
 (c) the rate of return over the reporting period.
 (3) The information required under subregulation (2):
 (a) must be given as soon as practicable after the end of the relevant reporting period; and
 (b) in the case of information that is to be given to the member spouse, must be given with the information required to be given to the member spouse under Division 2.3 of the old Regulations.
Note: A non‑member spouse may also be entitled to information under section 1017C of the Corporations Act 2001.

2.18D  Other information to be given by RSA provider—adverse effect on benefits
 (1) This regulation applies if:
 (a) an RSA interest is subject to a base amount payment split or a percentage payment split; and
 (b) the interest is in the growth phase; and
 (c) none of the following has occurred as a result of a payment split:
 (i) a new RSA was opened for the non‑member spouse;
 (ii) the transferable benefits of the non‑member spouse were transferred or rolled out of the RSA;
 (iii) the amount to which the non‑member spouse is entitled under the payment split was paid, as a lump sum, to the non‑member spouse.
 (2) The RSA provider must give to the non‑member spouse information about an event if the RSA