Commonwealth Consolidated Regulations

RETIREMENT SAVINGS ACCOUNTS REGULATIONS 1997 - REG 4.29

  (1)   This regulation applies to an RSA provider if:

  (a)   an RSA holder has satisfied a condition of release; and

  (b)   there is a cashing restriction (other than a 'Nil' restriction) in respect of that condition.

  (2)   In cashing benefits in accordance with the restriction, the RSA provider must give priority to benefits in the following order:

  (a)   first--to unrestricted non - preserved benefits;

  (b)   second--to restricted non - preserved benefits;

  (c)   third--to preserved benefits.

Note:   See also Parts   8 and 9 of the Act.