79BEarly release of benefits

#### 79B Early release of benefits (1) For the purposes of the Superannuation Industry (Supervision) Regulations 1994, a lump sum may be paid, on the grounds of severe financial hardship or on compassionate grounds, in accordance with those regulations, to or for the benefit of the following persons: (a) an eligible employee; (b) a deferred benefit member; (c) a person who has made an election under section 110T (postponement of benefits). (1A) A lump sum may be paid in compliance with a release authority issued to CSC under section 131‑15 in Schedule 1 to the Taxation Administration Act 1953 for the benefit of the following persons: (a) an eligible employee; (b) a deferred benefit member; (c) a person who has made an election under section 110T (postponement of benefits). (2) To avoid doubt, more than one early release lump sum can be paid to or for the benefit of a person. > Note: The components that make up the person’s early release amount and early release authority amount are not reduced when a lump sum is paid under this section. However, when a benefit to which the person is entitled under this Act becomes payable to the person, the amount of the benefit is reduced to reflect any previous lump sums paid to or for the benefit of the person (see section 79D).