Document ID: chunk:federal_register_of_legislation:F2024C01249:reg:1:p41
Version: federal_register_of_legislation:F2024C01249
Segment Type: reg
Provision Reference: reg 1 (pt 41/43)
Character Range: 1368140–1370823

for an RSA holder who ceases to be an RSA holder, otherwise than by death:
 (a) the RSA provider must give the RSA holder the information mentioned in regulation 7.9.19; and
 (b) regulation 7.9.22 does not apply.
 (2) A nil amount need not be disclosed.

7.9.59  Information to be given where applicable
 (1) For paragraph 1017D(5)(g) of the Act, if a reporting period for an RSA is the exit reporting period to which paragraph 1017D(2)(d) of the Act applies for an RSA holder who ceases to be an RSA holder, otherwise than by death, the RSA provider must give the RSA holder:
 (a) the information mentioned in regulation 7.9.26 (other than paragraphs 7.9.26(1)(h), (i), (l) and (m); and
 (b) in the case of a death benefit that ceases or reduces, or will cease or reduce, because the person has closed the RSA:
 (i) either:
 (A) the amount of the death benefit immediately before the person closed the RSA or at the end of the last RSA holder reporting period; or
 (B) the method of working out the death benefit; and
 (ii) whether a continuation option for insurance cover is available to the person and, if it is, details of the option, a contact person who is available to discuss the option and a telephone number for the contact person.
 (2) A nil amount need not be disclosed.

7.9.60  Modification of Act: exceptions to exit reporting period provisions
  For paragraph 1020G(1)(c) of the Act, Part 7.9 of the Act is modified in its application in relation to an RSA as set out in Part 13 of Schedule 10A.

Division 5AA—General requirements for financial disclosure

7.9.60A  Modification of Act: disclosure
  For paragraph 1020G(1)(c) of the Act, Part 7.9 of the Act is modified in its application in relation to the obligation to give information about financial products as set out in Part 14 of Schedule 10A.

7.9.60B  Disclosure of transactions in periodic statements
 (1) This regulation applies to the following periodic statements:
 (a) for a financial product other than a superannuation product, a managed investment product, a foreign passport fund product or an investment life insurance product—a periodic statement in relation to a reporting period commencing on or after 1 July 2005;
 (b) for a superannuation product:
 (i) if the periodic statement is not an exit statement—a periodic statement in relation to a reporting period commencing on or after 1 July 2005; and
 (ii) if the periodic statement is an exit statement—a periodic statement issued on or after 1 July 2006;
 (c) for a managed investment product:
 (i) if the periodic statement is not an exit statement—a periodic statement in relation to a reporting period commencing on or after 1 July 2006;