Commonwealth Numbered Regulations

1997 No. 116 RETIREMENT SAVINGS ACCOUNTS REGULATIONS - REG 2.29

2.29. (1) If the benefits of an RSA holder will be paid to an
eligible rollover fund unless the RSA holder chooses, within a specified
period, an RSA institution or superannuation entity to which those benefits
will be paid, the RSA provider must give to the RSA holder information
relating to the payment to the eligible rollover  fund that will assist the
RSA holder to decide between having the benefits paid to the
eligible rollover fund or to the RSA institution or superannuation entity
chosen by the RSA holder.

(2) In particular, the RSA provider must give to the RSA holder so much of the
following information as is relevant to the circumstances:

   (a)  an explanation why the RSA provider intends to pay the RSA holder's
        benefits to the eligible rollover fund if the RSA holder does not make
        the choice within the period;

   (b)  a statement of the effect of the payment of the benefits to the
        eligible rollover fund;

   (c)  the contact details of the eligible rollover fund;

   (d)  the amount of the RSA holder's benefits that will be paid from the
        RSA;

   (e)  a statement to the effect that if the RSA holder chooses an RSA
        institution or superannuation entity that refuses to accept the
        payment of the RSA holder's benefits, or the RSA holder makes no
        choice within the specified period, the RSA provider will pay the
        benefits to the eligible rollover fund.

(3) This regulation does not require the RSA provider to provide information
about an RSA institution, or superannuation entity other than the
eligible rollover fund.