Commonwealth Numbered Acts

RETIREMENT SAVINGS ACCOUNTS ACT 1997 No. 61, 1997 - SECT 50

(1) An RSA provider must, if requested to do so by the holder of an RSA,
transfer the amount of the RSA to:

   (a)  another RSA provided by an RSA institution; or

   (b)  a superannuation entity or regulated exempt public sector
        superannuation scheme; or

   (c)  a deferred annuity.

(2) The RSA provider must transfer the amount of the RSA:

   (a)  if the contract or agreement for the provision of the RSA specifies a
        period, within the period so specified; or

   (b)  as soon as practicable; but in any case within 12 months, after the
        receipt of the written request.

(3) The amount of the RSA is worked out in accordance with the regulations.

(4) A person who intentionally or recklessly contravenes subsection (1) is
guilty of an offence punishable on conviction by a fine not exceeding 50
penalty units.