43BRelease of benefit on grounds of severe financial hardship

#### 43B Release of benefit on grounds of severe financial hardship 43B Release of benefit on grounds of severe financial hardship > > (1) STC may, on the written election of a contributor, or former contributor who has provided for a deferred benefit, release to the contributor or former contributor a benefit on the grounds of the contributor’s or former contributor’s severe financial hardship. > > > (2) STC may release the benefit only if STC is satisfied that the circumstances are such that a benefit would be payable on the grounds of severe financial hardship if the contributor or former contributor 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 paid— > > > > > (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 accrued or deferred benefit under this Act that would be payable to the contributor or former contributor, if the contributor or former contributor were eligible to be paid such a benefit. > > > (4) A contributor or former contributor may, at any time before the release of a benefit under this section, vary or revoke an election under this section. > > > (5) An amount may not be paid under this section unless any applicable requirements of any regulations made under section 43D have been complied with. > > **s 43B:** Ins 1997 No 149, Sch 1.6 \[13\]. Am 2000 No 100, Sch 5 \[2\]–\[8\].