Commonwealth Consolidated Regulations Commonwealth Consolidated Regulations(1) For the purposes of subsections 31(1) and 32(1) of the Act, the standards set out in subregulations (2), (2A) and (2B) are applicable to the operation of regulated superannuation funds and approved deposit funds.
(2) A member's benefits in a fund:
(a) may be paid:
(i) by being cashed in accordance with Division 6.3; or
(ii) by being rolled over or transferred in accordance with Division 6.4, 6.5 or 6.7; or
(iii) by being allotted under Division 6.7; and
(b) must not be paid in that way except when, and to the extent that, the fund is required or permitted under this Part to pay them; and
(c) must be paid in that way when, and to the extent that, the fund is required under this Part to pay them.
(2A) A member's benefits in a fund:
(a) may be paid:
(i) by being cashed in accordance with Part 7A; or
(ii) by being rolled over or transferred in accordance with Part 7A; and
(b) must not be paid in that way except when, and to the extent that, the fund is required or permitted under Part 7A to pay them; and
(c) must be paid in that way when, and to the extent that, the fund is required under Part 7A to pay them.
(2B) A member's benefits in a fund:
(a) may be paid in a way that is not described in subregulations (2) and (2A):
(i) as a consequence of the trustee taking action that, because of Division 2.2 of the Family Law (Superannuation) Regulations 2001 , has the effect that a future payment in respect of the superannuation interest of the member spouse would not be a splittable payment; or
(ii) as a consequence of the operation of a fund's governing rules that, because of Division 2.2 of the Family Law (Superannuation) Regulations 2001 , has the effect that a future payment in respect of the superannuation interest of the member spouse would not be a splittable payment; and
(b) must not be paid in that way except when, and to the extent that, the fund would be required or permitted under those Regulations to pay them; and
(c) must be paid in that way when, and to the extent that, the fund would be required under those regulations to pay them.
(2C) This regulation 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 member's benefits in the fund to the Commonwealth, a State or a Territory.
Item | Law | Provision(s) |
Commonwealth |
| |
1.1 | Section 47 Section 48 Section 49 Section 92 | |
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 Section 58A Section 151 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 Section 58 Section 62 Section 67 | |
Northern Territory | ||
9.1 | Section 75 Section 76 Section 80 Section 96 Section 97 Section 99 | |
(3) For this regulation, a payment to which regulation 7.9.66 or 7.9.68 of the Corporations Regulations 2001 relates is taken to be the payment of a benefit.