Document ID: chunk:federal_register_of_legislation:C2025C00180:clause:1_4:p3
Version: federal_register_of_legislation:C2025C00180
Segment Type: clause
Provision Reference: sch 1 cl 4 (pt 3/6)
Character Range: 1027312–1030148

For a release authority issued under section 131‑15 in relation to a *first home super saver determination given to you, the Commissioner may decide to:
 (a) vary the release authority if:
 (i) the varied release authority would be consistent with paragraph 131‑5(3)(a); and
 (ii) you satisfy paragraphs 138‑10(2)(a) and (b); or
 (b) revoke the release authority;
at any time before the Commissioner begins treating, under Division 3 of Part IIB, any credit to which you have become entitled under section 131‑65 in relation to the release authority.
 (3) The Commissioner may make a decision under subsection (2):
 (a) on the Commissioner's own initiative; or
 (b) on application by you to the Commissioner in the *approved form.
 (4) If a release authority is varied or revoked under subsection (2) at a particular time, then any entitlement under section 131‑65 you had to a credit relating to the release authority ceases at that time.
 (5) The revocation of a release authority under subsection (2) does not prevent you from making a later request under section 131‑5 in relation to the same *first home super saver determination.

Reissuing varied release authorities
 (6) If the Commissioner varies a release authority under this section at a particular time, then:
 (a) at that time, the release authority (as issued before the variation) ceases to be in force; and
 (b) the Commissioner must reissue the release authority (as varied) under section 131‑15.

Review
 (7) If you are dissatisfied with a decision under subsection (2) by the Commissioner in relation to you:
 (a) to vary or revoke a release authority; or
 (b) not to vary or revoke a release authority;
you may object against it in the manner set out in Part IVC of this Act.

Complying with a release authority

131‑35  Obligations of superannuation providers
 (1) A *superannuation provider issued with a release authority under section 131‑15 must, within 10 *business days after the release authority is issued (or a further period allowed by the Commissioner), pay to the Commissioner the lesser of:
 (a) the amount stated in the release authority; and
 (b) the sum of the *maximum available release amounts for each *superannuation interest held by the superannuation provider for you in *superannuation plans.
Note 1: Subsection 288‑95(3) provides for an administrative penalty for failing to comply with this section.
Note 2: For the taxation treatment of the payment, see section 131‑75.

Exception—defined benefit interests not subject to compulsory release
 (2) However, the *maximum available release amount for a *superannuation interest is not to be included in the sum worked out under paragraph (1)(b) if the interest is a *defined benefit interest.

131‑40  Voluntary compliance with a release authority relating to defined benefit interests
 (1) A