Commonwealth Numbered Regulations

1994 No. 57 SUPERANNUATION INDUSTRY (SUPERVISION) REGULATIONS - REG 6.19

6.19. (1) A member's restricted non-preserved benefits in a regulated
superannuation fund may be cashed on or after the satisfaction by the member
of a condition of release.

(2) The amount of restricted non-preserved benefits that may be cashed in
accordance with subregulation (1) must not exceed the amount of:

   (a)  the restricted non-preserved benefits of the member that had accrued
        at the time when the member satisfied the condition of release; and

   (b)  any investment earnings accruing on those benefits from that time.

(3) Subject to subregulation (4), the form in which restricted non-preserved
benefits may be cashed under this regulation is:

   (a)  the form (if any) specified in the cashing restriction for restricted
        non-preserved benefits set out in Schedule 1 in relation to the
        relevant condition of release; or

   (b)  if that cashing restriction is "Nil"-any one or more of the following
        forms:

        (i)    a lump sum or 2 or more lump sums;

        (ii)   a pension or 2 or more pensions;

        (iii)  the purchase of an annuity or 2 or more annuities.

(4) A lump sum mentioned in subparagraph (3) (b) (i) must be payable not later
than the time for the payment of a lump sum mentioned in paragraph 6.21 (2)
(a).