Commonwealth Numbered Regulations

1994 No. 57 SUPERANNUATION INDUSTRY (SUPERVISION) REGULATIONS - REG 6.08

6.08. (1) Subject to regulation 6.12 and to Subdivision 6.1.5, the amount of a
member's restricted non-preserved benefits in a regulated superannuation fund
at any time on or after the changeover day, is the greatest of the following
amounts:

   (a)  the total of:

        (i)    the indexed amount of the member's restricted non-preserved
               benefits (as defined by regulation 6.07) in the fund that would
               be payable to the member on the changeover day if the member
               resigned from employment on that day; and

        (ii)   the indexed amount of the member's restricted non-preserved
               benefits received by the fund from another regulated
               superannuation fund on or after the changeover day that are
               subject to indexation in the fund;

   (b)  the total of:

        (i)    the indexed amount of the member's restricted non-preserved
               benefits (as defined by regulation 6.07) in the fund on the
               changeover day that would be payable to the member if the
               member were retrenched from employment that day; and

        (ii)   the indexed amount of the member's restricted non-preserved
               benefits received by the fund from another regulated
               superannuation fund on or after the changeover day that are
               subject to indexation in that other fund;

   (c)  the amount of the member's restricted non-preserved contributions in
        the fund.

(2) Subject to regulation 6.12, a member's benefits in a regulated
superannuation fund ("the transferee fund") that:

   (a)  were rolled over or transferred from another regulated superannuation
        fund; and

   (b)  were indexed amounts of restricted non-preserved benefits in that
        other fund; continue to be subject to indexation in
        the transferee fund.

(3) Subject to regulation 6.12, a member's benefits in a regulated
superannuation fund ("the transferee fund") that:

   (a)  were rolled over or transferred from another regulated superannuation
        fund; and

   (b)  were restricted non-preserved contributions in that other fund;
        continue to be restricted non-preserved contributions in
        the transferee fund.

(4) The references in this regulation to indexation apply subject to
regulation 6.14.