Western Australian Consolidated Acts Western Australian Consolidated Acts (1) A
Retirement Income Member may request the Board to divide the Member’s
retirement income account into a cash sub-account and an investment
sub-account.
(2) The Member must
set out in a request under subregulation (1) —
(a) the
amount that is to be allocated to each sub-account (the sum of which must be
equal to the balance of the Member’s account); or
(b) the
proportion of the balance of the account that is to be allocated to each
sub-account,
at the time the
sub-accounts are established.
(3) A Member whose
retirement income account has been divided into sub-accounts under this
regulation may request the Board to —
(a)
transfer a specified amount from one sub-account to the other;
(b)
change the proportion of the balance of the Member’s account that is
held in each sub-account; or
(c)
combine the sub-accounts into a single account.
(4) The Board is to
comply with a request under subregulation (1) or (3) but the Board is not
otherwise required to ensure that balances of the sub-accounts remains in
accordance with the requested amounts or proportions.
[Regulation 179 inserted in Gazette
19 Mar 2003 p. 822-3; amended in Gazette 10 Dec 2004
p. 5895.]