Movement of benefits between categories by satisfaction of conditions of release
6.12 Movement of benefits between categories by satisfaction of conditions of release
If:
a member of a regulated superannuation fund or an approved deposit fund satisfies a condition of release; and
the relevant cashing restriction in respect of preserved benefits is ‘Nil’;
the member’s preserved benefits in the fund at that time cease to be preserved benefits and become unrestricted non‑preserved benefits.
If:
a member of a regulated superannuation fund satisfies a condition of release; and
the relevant cashing restriction in respect of restricted non‑preserved benefits is ‘Nil’;
the member’s restricted non‑preserved benefits in the fund at that time cease to be restricted non‑preserved benefits and become unrestricted non‑preserved benefits.
This regulation has effect subject to Subdivision 6.1.5.
This Act’s bill:Explanatory statement
The statute text is free to read above. View subscription options to unlock the case-law research tools for each provision.