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This is a Bill, not an Act. For current law, see the Acts databases.
2004
The Parliament of
the
Commonwealth of
Australia
THE
SENATE
Presented and read a first
time
Family
Law Amendment (Annuities) Bill 2004
No.
,
2004
(Attorney-General)
A
Bill for an Act to amend the Family Law Act 1975, and for related
purposes
Contents
Family Law Act
1975 4
Family Law Act
1975 5
A Bill for an Act to amend the Family Law Act
1975, and for related purposes
The Parliament of Australia enacts:
This Act may be cited as the Family Law Amendment (Annuities) Act
2004.
(1) Each provision of this Act specified in column 1 of the table
commences, or is taken to have commenced, in accordance with column 2 of the
table. Any other statement in column 2 has effect according to its
terms.
|
Commencement information |
||
|---|---|---|
|
Column 1 |
Column 2 |
Column 3 |
|
Provision(s) |
Commencement |
Date/Details |
|
1. Sections 1 to 4 and anything in this Act not elsewhere covered by
this table |
The day on which this Act receives the Royal Assent. |
|
|
2. Schedule 1 |
Immediately after the commencement of Schedule 6 to the Family Law
Amendment Act 2003. |
17 December 2004 |
|
3. Schedule 2 |
A single day to be fixed by Proclamation. However, if any of the provision(s) do not commence within the period of 6
months beginning on the day on which this Act receives the Royal Assent, they
commence on the first day after the end of that period. |
|
Note: This table relates only to the provisions of this Act
as originally passed by the Parliament and assented to. It will not be expanded
to deal with provisions inserted in this Act after assent.
(2) Column 3 of the table contains additional information that is not part
of this Act. Information in this column may be added to or edited in any
published version of this Act.
Each Act that is specified in a Schedule to this Act is amended or
repealed as set out in the applicable items in the Schedule concerned, and any
other item in a Schedule to this Act has effect according to its
terms.
(1) Subject to this section, the annuity amendments apply to all
marriages, including those that were dissolved before the startup
time.
(2) Subject to subsections (3) and (4), the annuity amendments do not
apply to a marriage if a section 79 order, or a section 87 agreement,
is in force in relation to the marriage at the startup time.
(3) If a section 79 order that is in force at the startup time is
later set aside under paragraph 79A(1)(a), (b), (c) or (d) of the Family Law
Act, then the annuity amendments apply to the marriage from the time the order
is set aside.
(4) If an approval of a section 87 agreement that is in force at the
startup time is later revoked on a ground specified in paragraph 87(8)(a), (c)
or (d) of the Family Law Act, then the annuity amendments apply to the marriage
from the time the approval is revoked.
(5) The annuity amendments do not apply in relation to a financial
agreement that was made before the startup time.
(6) In this section, unless the contrary intention appears:
annuity amendments means the amendments made by
Schedule 2.
Family Law Act means the Family Law Act
1975.
marriage includes a void marriage.
section 79 order means an order (other than an interim
order) made under section 79 of the Family Law Act.
section 87 agreement means an agreement approved under
section 87 of the Family Law Act.
startup time means the time when Schedule 2
commences.
1 After section 90AC
Insert:
(1) The powers of the court under this Part do not apply to eligible
annuities.
(2) In this section:
eligible annuity means an annuity (as defined in
section 10 of the Superannuation Industry (Supervision) Act 1993)
that is treated, for the purpose of Division 14 of Part III of the
Income Tax Assessment Act 1936, as being purchased wholly out of
rolled-over amounts.
1 Section 90MD
Insert:
eligible annuity means an annuity (as defined in
section 10 of the SIS Act) that is treated, for the purpose of
Division 14 of Part III of the Income Tax Assessment Act 1936,
as being purchased wholly out of rolled-over amounts.
2 Section 90MD (at the end of the definition of
eligible superannuation plan)
Add:
; (e) an eligible annuity.