Commonwealth Consolidated Regulations

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SUPERANNUATION INDUSTRY (SUPERVISION) REGULATIONS 1994 - REG 6.22A

Priority in cashing benefits in certain cases--regulated superannuation funds

             (1)  This regulation applies to a trustee of a regulated superannuation fund if:

                     (a)  a member of the fund 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 trustee 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.



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