Commonwealth Consolidated Regulations

RETIREMENT SAVINGS ACCOUNTS REGULATIONS 1997 - REG 2.18D

  (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 provider reasonably believes that:

  (a)   the event is likely to have a material effect on the RSA interest; and

  (b)   the event may be adverse (whether the adverse effect would occur at the time of the event or a later time).

  (3)   The information required under subregulation   (2) must be given before, or as soon as practicable after, the occurrence of the event.