Commonwealth Consolidated Regulations Commonwealth Consolidated Regulations(1) Subject to subregulation (1A) and regulations 4.27, 4A.24 and 4A.28, an RSA holder's interest in an RSA must not be cashed in favour of a person other than the RSA holder or the RSA holder's legal personal representative:
(a) unless:
(i) the RSA holder has died; and
(ii) the conditions of subregulation (2) or (3) are satisfied; or
(b) unless the conditions of subregulation (4) or (5) are satisfied.
(1A) Subregulation (1) does not apply if, under a law of the Commonwealth, a State or a Territory mentioned in the table, a court makes a forfeiture order (however called) forfeiting part or all of the benefits of the RSA holder to the Commonwealth, a State or a Territory.
Item | Law | Provision(s) |
Commonwealth |
| |
1.1 | Section 47 | |
New South Wales |
| |
2.1 | Subsection 18(1) | |
2.2 | Section 22 | |
Victoria | ||
3.1 | Division 1 of Part 3 Section 35 Part 4 Subsection 157(6) | |
Queensland | ||
4.1 | Section 58 Part 5 of Chapter 3 | |
Western Australia | ||
5.1 | Section 30, to the extent that it applies to confiscation under section 6 in satisfaction of a person's liability under section 20 Section 30, to the extent that it applies to confiscation under section 7 | |
South Australia | ||
6.1 | Section 47 | |
Tasmania | ||
7.1 | Section 16 | |
Australian Capital Territory | ||
8.1 | Section 54
| |
Northern Territory | ||
9.1 | Section 75 | |
(2) The conditions of this subregulation are satisfied if the benefits are cashed in favour of either or both of the following:
(a) the RSA holder's legal personal representative;
(b) one or more of the RSA holder's dependants.
(3) The conditions of this subregulation are satisfied if:
(a) the RSA provider has not, after making reasonable inquiries, found either a legal personal representative, or a dependant, of the RSA holder; and
(b) the person in whose favour the benefits are cashed is an individual.
(4) The conditions of this subregulation are satisfied if:
(a) the RSA provider has received a release authority in respect of the RSA holder under section 131 - 15 or 135 - 40 in Schedule 1 to the Taxation Administration Act 1953 ; and
(b) the benefits are cashed in favour of the Commissioner of Taxation in accordance with the authority.
(5) The conditions of this subregulation are satisfied if the RSA holder's benefits are cashed in favour of the Commissioner of Taxation to pay an amount to the Commissioner of Taxation under the Superannuation (Unclaimed Money and Lost Members) Act 1999 .