28APayment or release of benefit in other circumstances

#### 28A Payment or release of benefit in other circumstances 28A Payment or release of benefit in other circumstances > > (1) The trustees may, on the written application of a former member who has preserved a benefit in the Fund, and who is not otherwise entitled to be paid a benefit under this Act, pay the former member a benefit on the grounds of the former member’s severe financial hardship. > > > (2) The trustees may only pay the benefit if they are satisfied that the circumstances are such that a benefit would be payable on the grounds of severe financial hardship if the former member were a member of a regulated superannuation fund within the meaning of the [Superannuation Industry (Supervision) Act 1993](http://www.legislation.gov.au/) of the Commonwealth. > > > (3) The amount of the benefit— > > > > > (a) is to be the amount payable for the purpose of complying with the requirements of the [Superannuation Industry (Supervision) Act 1993](http://www.legislation.gov.au/) of the Commonwealth for payment of such a benefit from a regulated superannuation fund, and > > > > > (b) is not to exceed the amount of any benefit preserved by the former member. > > > (4) A former member may, at any time, lodge with the trustees an election to vary or revoke an election under this section. > > > (5) An election under this section is to be in a form approved by the trustees for the purposes of this section. > > **s 28A:** Ins 1997 No 149, Sch 1.2 \[16\].