Commonwealth Numbered Regulations

1997 No. 116 RETIREMENT SAVINGS ACCOUNTS REGULATIONS - REG 6.09

6.09. (1) For the purposes of subsection 38 (1) of the Act, the requirement in
subregulation (3) is a standard applicable to the operation of RSAs.

(2) For the purposes of this regulation, a lost RSA holder becomes reportable
if the RSA holder is a lost RSA holder at the end of an RSA 
holder reporting period ending after 1 July 1997.

(3) The RSA provider must give to the Commissioner of Taxation, on or before
the date specified in subregulation (4) (or such later date as the
Commissioner of Taxation may, at any time before or after the date specified
in that subregulation, determine in writing in relation to a particular RSA or
a class of RSAs), for each half-year a statement, in the form approved by the
Commissioner of Taxation, setting out the most recent information, of the
kinds set out in subregulation (6), that the RSA provider has regarding:

   (a)  each lost RSA holder who became reportable during the half-year,
        unless:

        (i)    the RSA holder ceased to be an RSA holder; or

        (ii)   the RSA holder ceased to be a lost RSA holder; or

        (iii)  the RSA holder was previously reported under this paragraph and
               the RSA provider reasonably believes that the RSA holder is
               recorded as lost on the register of lost RSA holders; and

   (b)  each RSA holder previously reported under paragraph (a) who ceased to
        be a lost RSA holder during the half-year.

(4) The date is:

   (a)  in relation to a half-year that ends on 30 June in a calendar year -
        31 October in that calendar year; and

   (b)  in relation to a half-year that ends on 31 December in a calendar year
        - 30 April in the following calendar year.

(5) An approval by the Commissioner of Taxation of a form of statement for the
purposes of subregulation (3) may require or permit the statement to be given
on a specified kind of data processing device in accordance with specified
software requirements.

(6) The information regarding each RSA holder is:

   (a)  in the case of an RSA holder who became reportable during the
        half-year:

        (i)    the RSA holder's name, date of birth, contact details and sex;
               and

        (ii)   the RSA provider's name and contact details; and

        (iii)  the name and contact details of the RSA holder's employer last
               known to the RSA provider; and

        (iv)   a statement to the effect that the RSA holder has become a
               lost RSA holder; and

        (v)    a statement of the amount of the RSA holder's withdrawal 
               benefits at the date on which the RSA holder became reportable;
               and

        (vi)   if, in the half-year, the Commissioner of Taxation requests in
               writing from the RSA provider other information that the
               Commissioner of Taxation reasonably believes may assist the
               Commissioner of Taxation in administering the register of
               lost RSA  holders - that information; and

   (b)  in the case of an RSA holder who ceased to be a lost RSA holder during
        the half-year:

        (i)    a statement to that effect; and

        (ii)   the RSA holder's name, date of birth, and sex; and

        (iii)  the RSA provider's name and contact details; and

        (iv)   if, in the half-year, the Commissioner of Taxation requests in
               writing from the RSA provider other information that the
               Commissioner of Taxation reasonably believes may assist the
               Commissioner of Taxation in administering the register of
               lost RSA  holders - that information; and

        (v)    if the RSA provider so chooses - any other information
               mentioned in paragraph (a).

(7) For the purposes of this regulation, if a lost RSA holder ceases to be a
lost RSA holder during an RSA holder reporting period, the RSA provider may
decide that the RSA holder is to be taken to continue to be a lost RSA holder
until the end of that RSA holder reporting  period.

(8) In this regulation:

"contact details" means:

   (a)  in relation to an RSA holder - details of the person's residential
        address, postal address (if different) and, where available, telephone
        number and facsimile (electronic transmission) number; and

   (b)  in relation to the RSA provider or the RSA holder's employer - the
        postal address and, where available, telephone number and facsimile
        (electronic transmission) number;

"RSA holder reporting period" has the meaning given by regulation  3.07 ;

(9) This regulation does not apply in relation to a half-year beginning before
1 July 1997.