Retirement Savings Accounts Amendment Regulations 1999 (No. 2) (Cth)

Retirement Savings Accounts Amendment Regulations 1999 (No. 2)

Statutory Rules 1999 No. 315

I, WILLIAM PATRICK DEANE, Governor-General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following Regulations under theRetirement Savings Accounts Act 1997.

Dated 8 December 1999.

WILLIAM DEANE

Governor-General

By His Excellency’s Command,

C. R. KEMP

Assistant Treasurer

Retirement Savings Accounts Amendment Regulations 1999 (No. 2)1

Statutory Rules 1999 No. 3152

made under the

Retirement Savings Accounts Act 1997

   

Contents

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1Name of Regulations

 These Regulations are the Retirement Savings Accounts Amendment Regulations 1999 (No. 2).

2Commencement

 These Regulations commence on gazettal.

3Amendment of Retirement Savings Accounts Regulations 1997

Schedule 1 amends the Retirement Savings Accounts Regulations 1997.

Schedule 1Amendments

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(regulation 3)

[1]Regulation 1.06, note, paragraph (b)

omit

regulation 6.09

insert

regulation 5 of the Superannuation (Unclaimed Money and Lost Members) Regulations 1999

[2]Subparagraphs 3.12 (1) (b) (i) and (ii)

substitute

• (i)

  the RSA holder:

  • (A)

    is a lost RSA holder at the end of an RSA holder reporting period, or at an earlier time chosen by the RSA provider that is within that period; or

  • (B)

    joins the RSA as a lost RSA holder; and

• (ii)

  90 days have elapsed since the relevant time mentioned in subparagraph (i); and

[3]Paragraph 3.12 (3) (b)

omit everything before subparagraph (ii), insert

• (b)

  in the case of a lost RSA holder mentioned in subparagraph (1) (b) (i) — the period is:

  • (i)

    the first RSA holder reporting period beginning after the relevant time mentioned in that subparagraph; or

[4]Regulation 6.09

omit

Notes

1. These Regulations amend Statutory Rules 1997 No. 116, as amended by 1997 Nos. 150, 151, 242, 294, 308 and 342; 1998 Nos. 82, 176, 178 and 192; 1999 No. 13.

2. Made by the Governor-General on 8 December 1999, and notified in the Commonwealth of Australia Gazette on 15 December 1999.