Retirement Savings Accounts Amendment Regulations 2010 (No. 1) (Cth)

Retirement Savings Accounts Amendment Regulations 2010 (No. 1)¹

Select Legislative Instrument 2010 No. 23

I, QUENTIN BRYCE, Governor-General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following Regulations under the Retirement Savings Accounts Act 1997.

Dated 25 February 2010

QUENTIN BRYCE

Governor-General

By Her Excellency’s Command

CHRIS BOWEN

Minister for Financial Services, Superannuation and Corporate Law

Name of Regulations

These Regulations are the Retirement Savings Accounts Amendment Regulations 2010 (No. 1).

Commencement

These Regulations commence on the day after they are registered.

Amendment of Retirement Savings Accounts Regulations 1997

Schedule 1 amends the Retirement Savings Accounts Regulations 1997.

Schedule 1 Amendments

(regulation 3)

[1] Subregulation 5.03 (1), table, item 2

substitute

2 is not under 65, but is under 70
contributions that are made in respect of the RSA holder that are:

   (a) mandated employer contributions; or

(b) if the RSA holder has been gainfully employed on at least a part‑time basis during the financial year in which the contributions are made:

        (i)   employer contributions (except mandated employer contributions); or

       (ii)   RSA holder contributions; or

   (c) payments from an FHSA of a kind mentioned in subparagraph 31 (1) (b) (i) or (ii) of the First Home Saver Accounts Act 2008.

[2] Subregulation 5.03 (7), after definition of Employer contribution

insert

FHSA has the meaning given by section 8 of the First Home Saver Accounts Act 2008.

Note

All legislative instruments and compilations are registered on the Federal Register of Legislative Instruments kept under the Legislative Instruments Act 2003. See