Commonwealth Numbered Regulations

1997 No. 116 RETIREMENT SAVINGS ACCOUNTS REGULATIONS - SCHEDULE 2

                            SCHEDULE 2          Regulation 4.01
CONDITIONS OF RELEASE AND CASHING RESTRICTIONS - PRESERVED BENEFITS AND
RESTRICTED NON-PRESERVED BENEFITS

Column 1         Column 2                         Column 3
Item no.         Conditions of release            Cashing restrictions
101              Retirement                            Nil
102              Death                                 Nil
103              Permanent incapacity                  Nil
104              Permanent departure from Australia    Nil
105              Severe financial hardship        A single lump sum, 
not exceeding in any
particular case the
amount determined by
the Commissioner,
from the RSA for the
purpose of relieving
the hardship
106              Attaining age 65                     Nil

107              Termination of gainful employment

with an employer who had, or any
of whose associates had, at any
time, contributed to the RSA in
relation to the RSA holder
1. Preserved benefits:
Non-commutable life
pension or non-
commutable life
annuity
2. Restricted non-
preserved benefits:
Nil
108              Temporary incapacity           A non-commutable 

income stream cashed
from the RSA for:

   (a)  the purpose of
continuing (in whole
or part) the gain or
reward which the RSA
holder was receiving
before the temporary
incapacity; and

   (b)  a period not
exceeding the period
of incapacity from
employment of the kind
engaged in immediately
before the temporary
incapacity

109              Any other condition, if 
expressed to be a condition
of release, in an approval
under paragraph 15 (4) (d)
                 of the Act                     Restrictions expressed 

in the approval to be
cashing restrictions
applying to the
condition of release [NOTE: The definitions set out in subregulation 4.01 (2)
apply, unless they are immaterial or expressed not to apply, to Schedule 2;
see that subregulation.]