Commonwealth Numbered Regulations

1997 No. 116 RETIREMENT SAVINGS ACCOUNTS REGULATIONS - REG 2.22

Meaning of "event"
2.22. (1) For the purposes of this regulation:

"event" means:

   (a)  an event mentioned in regulation 2.27; or

   (b)  a change of a kind mentioned in subregulation 2.28 (1); or

   (c)  a transfer of the amount of an RSA mentioned in subregulation 2.28
        (3).

General rule

(2) Subject to regulation 2.23, the time within which an RSA provider must
give information under this Division about an event to an RSA holder is:

   (a)  if the event has an adverse effect:

        (i)    before the expected occurrence of the event; or

        (ii)   within 30 days after the occurrence of the event;

   (b)  in any other case - within 3 months after the occurrence of the event.

Where delay not material

(3) Despite paragraph (2) (b), the information may be given more than 3 months
after the occurrence of the event if:

   (a)  the RSA provider reasonably believes that the RSA holder would not be
        expected to be concerned about the delay in giving the information;
        and

   (b)  the information is given no later than 12 months after the occurrence
        of the event.