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State Authorities Superannuation (Safe Food) Transitional Regulation 2002
5Transfer of preserved benefit
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5 Transfer of preserved benefit
5 Transfer of preserved benefit
(1) If, within the election period, a contributor:
(a) exercises his or her entitlement to make provision for a preserved benefit, and
(b) exercises the entitlement conferred by clause 3 of Schedule 5 to the Act,
STC is required to pay that benefit to a regulated superannuation fund nominated by the contributor.
(2) The payment must be made as soon as practicable after the date on which the contributor exercises his or her entitlement to make a provision for a preserved benefit.