Commonwealth Consolidated Regulations

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RETIREMENT SAVINGS ACCOUNTS REGULATIONS 1997 - REG 4A.20

Giving effect to a request

  (1)   This regulation applies if an RSA provider receives a request under this Division within the time allowed under regulation   4A.19.

  (2)   The RSA provider must give effect to the request unless:

  (a)   the RSA provider has received an earlier request under this Division in respect of the same interest and the earlier request has not been withdrawn; or

  (b)   for a request under regulation   4A.16--the RSA provider of the original interest is not permitted to open a new RSA for the non - member spouse or the request was not accompanied by an eligible application; or

  (c)   for a request under regulation   4A.17--the RSA provider, superannuation entity or EPSSS specified in the request does not accept the rollover or transfer of benefits for the non - member spouse.

  (3)   If paragraph   (2)(b) or (c) applies in relation to a request, the RSA provider must:

  (a)   roll over or transfer the transferable benefits to an RSA provided by another RSA provider, or another superannuation entity or EPSSS, nominated by the non - member spouse; or

  (b)   if there has been no such nomination by the non - member spouse--consider whether it would be in the best interests of the non - member spouse to pay the amount of the transferable benefits to the Commissioner under section   22 of the Superannuation (Unclaimed Money and Lost Members) Act 1999 .



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