Western Australian Consolidated Acts Western Australian Consolidated Acts (1) Subject to
subregulation (1b), a West State Super Member who is at least 55 years of
age may request the Board to transfer —
(a) the
balance of the Member’s west state account; or
(b) part
of the balance of the Member’s west state account,
to another scheme or
superannuation fund for the purpose of providing a phased retirement benefit
for the Member and the Board is to comply with that request.
[(1a) repealed]
(1b) If a Member makes
a request under subregulation (1)(b), the Board may refuse the request if
transferring the amount requested would reduce the balance in the
Member’s west state account to less than $5 000.
(2) If a Member who
transfers an amount under this regulation was a West State Super Member on
30 June 2001 —
(a) the
Member’s protected amount is taken to be reduced, on the day on which
the amount is transferred, by the amount transferred; and
(b) on
and after that day, the interest under paragraph (a)(ii) of the
definition of “protected amount” in regulation 50(1) is to be
calculated on the basis of that reduced amount.
[Regulation 79B inserted in Gazette
26 May 2006 p. 1919; amended in Gazette 13 Apr 2007
p. 1608, 1623-4 and 1629.]