Commonwealth Numbered Regulations

1994 No. 57 SUPERANNUATION INDUSTRY (SUPERVISION) REGULATIONS - REG 6.20

6.20. (1) A member's unrestricted non-preserved benefits in a regulated
superannuation fund may be cashed at any time.

(2) The amount of unrestricted non-preserved benefits that may be cashed in
accordance with subregulation (1) is the whole or part of the member's
unrestricted non-preserved benefits in the fund.

(3) Subject to subregulation (4), the form in which unrestricted non-preserved
benefits may be cashed under this regulation is any one or more of the
following forms:

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

   (b)  a pension or 2 or more pensions;

   (c)  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).