New South Wales Repealed Regulations

This legislation has been repealed.

STATE AUTHORITIES SUPERANNUATION (SRA-GONINAN TRANSFER) REGULATION 1994 - REG 4

4 Transfer of preserved benefit to a designated superannuation scheme

(1) If:

(a) a SRA contributor exercises the contributor's entitlement to make provision for a preserved benefit in the SAS Fund, and

(b) the contributor is therefore entitled to be paid that benefit in accordance with clause 3 (1) of Schedule 5 to the Act on ceasing to be a contributor to the SAS Fund, and

(c) the entitlement is exercised:

• within 4 months after the date of transfer from the SRA to the company, or

• if the transfer preceded the date of commencement of this Regulation, within 4 months from that date of commencement,

the Board is required to pay that benefit to whichever superannuation scheme is designated by the contributor.

(2) The payment must be made as soon as practicable after the exercise of the entitlement.

(3) The exercise by a SRA contributor of an entitlement to make provision for a preserved benefit is taken to have had effect on and from the contributor's transfer date.