Commonwealth Consolidated Regulations

SUPERANNUATION INDUSTRY (SUPERVISION) REGULATIONS 1994 - REG 6.27A

  (1)   This regulation applies to a trustee of an approved deposit 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 preserved benefits.

Note:   See also Parts   22 and 24 of the Act.