Retirement Savings Accounts Amendment Regulations 2011 (No. 2) (Cth)

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Retirement Savings Accounts Amendment Regulations 2011 (No. 2)1

Select Legislative Instrument 2011 No. 148

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 4 August 2011

QUENTIN BRYCE

Governor-General

By Her Excellency’s Command

BILL SHORTEN

Minister for Financial Services and Superannuation

  1. Name of Regulations

These Regulations are the Retirement Savings Accounts Amendment Regulations 2011 (No. 2).

  1. Commencement

These Regulations commence on the day after they are registered.

  1. Amendment of Retirement Savings Accounts Regulations 1997

Schedule 1 amends the Retirement Savings Accounts Regulations 1997.

Schedule 1          Amendments

(regulation 3)

[1]          Regulation 3.05

omit

An RSA

insert

(1)An RSA

[2]          Regulation 3.05

insert

(2)Subregulation (1) does not apply if, under a law of the Commonwealth, a State or a Territory mentioned in the table, a court makes a forfeiture order (however called) forfeiting part or all of the benefits of the RSA holder to the Commonwealth, a State or a Territory.

Item

Law

Provision(s)

Commonwealth

1.1 Proceeds of Crime Act 2002

Section 47

Section 48

Section 49

Section 92

New South Wales

2.1 Confiscation of Proceeds of Crime Act 1989 Subsection 18 (1)
2.2 Criminal Assets Recovery Act 1990 Section 22

Victoria

3.1 Confiscation Act 1997

Division 1 of Part 3

Section 35

Part 4

Subsection 157 (6)

Queensland

4.1 Criminal Proceeds Confiscation Act 2002

Section 58

Section 58A

Section 151

Part 5 of Chapter 3

Western Australia

5.1 Criminal Property Confiscation Act 2000

Section 30, to the extent that it applies to confiscation under section 6 in satisfaction of a person’s liability under section 20

Section 30, to the extent that it applies to confiscation under section 7

South Australia

6.1 Criminal Assets Confiscation Act 2005 Section 47

Tasmania

7.1 Crime (Confiscation of Profits) Act 1993 Section 16

Australian Capital Territory

8.1 Confiscation of Criminal Assets Act 2003

Section 54

Section 58

Section 62

Section 67

Northern Territory

9.1 Criminal Property Forfeiture Act 2002

Section 75

Section 76

Section 80

Section 96

Section 97

Section 99

[3]          After subregulation 4.20 (1)

insert

(1A)Subregulation (1) does not apply if, under a law of the Commonwealth, a State or a Territory mentioned in the table, a court makes a forfeiture order (however called) forfeiting part or all of the benefits of the RSA holder to the Commonwealth, a State or a Territory.

Item

Law

Provision(s)

Commonwealth

1.1 Proceeds of Crime Act 2002

Section 47

Section 48

Section 49

Section 92

New South Wales

2.1 Confiscation of Proceeds of Crime Act 1989 Subsection 18 (1)
2.2 Criminal Assets Recovery Act 1990 Section 22

Victoria

3.1 Confiscation Act 1997

Division 1 of Part 3

Section 35

Part 4

Subsection 157 (6)

Queensland

4.1 Criminal Proceeds Confiscation Act 2002

Section 58

Section 58A

Section 151

Part 5 of Chapter 3

Western Australia

5.1 Criminal Property Confiscation Act 2000

Section 30, to the extent that it applies to confiscation under section 6 in satisfaction of a person’s liability under section 20

Section 30, to the extent that it applies to confiscation under section 7

South Australia

6.1 Criminal Assets Confiscation Act 2005 Section 47

Tasmania

7.1 Crime (Confiscation of Profits) Act 1993 Section 16

Australian Capital Territory

8.1 Confiscation of Criminal Assets Act 2003

Section 54

Section 58

Section 62

Section 67

Northern Territory

9.1 Criminal Property Forfeiture Act 2002

Section 75

Section 76

Section 80

Section 96

Section 97

Section 99

[4]          Subregulation 4.26 (1)

after

Subject to

insert

subregulation (1A) and

[5]          After subregulation 4.26 (1)

insert

(1A)Subregulation (1) does not apply if, under a law of the Commonwealth, a State or a Territory mentioned in the table, a court makes a forfeiture order (however called) forfeiting part or all of the benefits of the RSA holder to the Commonwealth, a State or a Territory.

Item

Law

Provision(s)

Commonwealth

1.1 Proceeds of Crime Act 2002

Section 47

Section 48

Section 49

Section 92

New South Wales

2.1 Confiscation of Proceeds of Crime Act 1989 Subsection 18 (1)
2.2 Criminal Assets Recovery Act 1990 Section 22

Victoria

3.1 Confiscation Act 1997

Division 1 of Part 3

Section 35

Part 4

Subsection 157 (6)

Queensland

4.1 Criminal Proceeds Confiscation Act 2002

Section 58

Section 58A

Section 151

Part 5 of Chapter 3

Western Australia

5.1 Criminal Property Confiscation Act 2000

Section 30, to the extent that it applies to confiscation under section 6 in satisfaction of a person’s liability under section 20

Section 30, to the extent that it applies to confiscation under section 7

South Australia

6.1 Criminal Assets Confiscation Act 2005 Section 47

Tasmania

7.1 Crime (Confiscation of Profits) Act 1993 Section 16

Australian Capital Territory

8.1 Confiscation of Criminal Assets Act 2003

Section 54

Section 58

Section 62

Section 67

Northern Territory

9.1 Criminal Property Forfeiture Act 2002

Section 75

Section 76

Section 80

Section 96

Section 97

Section 99

Note

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

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