South Australian Current Regulations

SOUTHERN STATE SUPERANNUATION REGULATIONS 2009 - REG 62

62—Withheld amount

An amount withheld under regulation 60 or 61—

            (a)         must be retained in the Fund; and

            (b)         will be adjusted from time to time by the Board, in accordance with section 13 of the Act, to reflect investment earnings on the amount; and

            (c)         may be paid to the member (or the member's spouse or legal representative)—

                  (i)         in accordance with regulation 60 or 61; or

                  (ii)         at the direction of the Board if the Board—

                        (A)         has not, within 2 years of withholding the amount, received advice that a surcharge notice has been issued in respect of the member; or

                        (B)         considers, at any time, there is other good reason for doing so.