Commonwealth Consolidated Regulations Commonwealth Consolidated Regulations(1) Benefits in a fund are unrestricted non - preserved benefits if:
(a) during the transitional period of the fund, there arose in relation to the benefits a circumstance that would have resulted in the satisfaction of a condition of release and a 'Nil' cashing restriction if these regulations applied; or
(b) both:
(i) the benefits were rolled over or transferred to the fund from:
(A) a superannuation fund ( Fund A ) during its transitional period; or
(B) a regulated superannuation fund or an approved deposit fund to which the benefits were rolled over or transferred from a superannuation fund ( Fund B ) during its transitional period; and
(ii) the trustee is reasonably satisfied that:
(A) during the transitional period of Fund A or Fund B, there arose in relation to the benefits a circumstance that would have resulted in the satisfaction of a condition of release and a 'Nil' cashing restriction if these regulations applied; or
(B) before the benefits were rolled over or transferred to Fund A or Fund B from a regulated superannuation fund or an approved deposit fund, the relevant cashing restriction set out in Schedule 1 in respect of the benefits was 'Nil'.
(2) An investment earning in relation to a benefit of any kind is an unrestricted non - preserved benefit on a day if:
(a) the benefit was cashed, before that day, in the form of a non - commutable life pension; and
(b) for a benefit that was commenced under the condition of release mentioned in item 110 or 208 of Schedule 1, the pensioner has satisfied a condition of release in respect of which the cashing restriction for preserved benefits and restricted non - preserved benefits is 'Nil'; and
(c) the pension commenced to be paid before that day.
(3) An investment earning in relation to a benefit of any kind is an unrestricted non - preserved benefit on a day if:
(a) the benefit was cashed, before that day, in the form of a non - commutable life annuity; and
(b) for a benefit that was commenced under the condition of release mentioned in item 110 or 208 of Schedule 1, the annuitant has satisfied a condition of release in respect of which the cashing restriction for preserved benefits and restricted non - preserved benefits is 'Nil'; and
(c) the annuity commenced to be paid before that day.
(4) An investment earning in relation to a benefit is an unrestricted non - preserved benefit on a day if:
(a) the benefit is an unrestricted non - preserved benefit; and
(b) the benefit was cashed, before that day, in the form of a pension; and
(c) for a benefit that was commenced under the condition of release mentioned in item 110 or 208 of Schedule 1, the pensioner has satisfied a condition of release in respect of which the cashing restriction for preserved benefits and restricted non - preserved benefits is 'Nil'; and
(d) the pension commenced to be paid before that day.
(5) An investment earning in relation to a benefit is an unrestricted non - preserved benefit on a day if:
(a) the benefit is an unrestricted non - preserved benefit; and
(b) the benefit was cashed, before that day, in the form of an annuity; and
(c) for a benefit that was commenced under the condition of release mentioned in item 110 or 208 of Schedule 1, the annuitant has satisfied a condition of release in respect of which the cashing restriction for preserved benefits and restricted non - preserved benefits is 'Nil'; and
(d) the annuity commenced to be paid before that day.