Commonwealth Consolidated Regulations

FAMILY LAW (SUPERANNUATION) REGULATIONS 2001 - REG 55

    For sections   90XJ and 90YN of the Act and subregulation   17(2), and paragraphs 90XT(1)(a) and 90YY(1)(a) of the Act and paragraph   23(2)(b) of these Regulations, this Division sets out how to calculate the amount (if any) that the non - member spouse is entitled to be paid under a payment split in respect of a splittable payment that becomes payable in respect of a superannuation interest of a member spouse if:

  (a)   the interest is not a percentage - only interest; and

  (b)   in the case of an interest that is identified in a superannuation agreement or flag lifting agreement:

  (i)   the agreement states that the base amount is a total amount that relates to the whole of the superannuation interest, or the base amount is taken to be a total amount that relates to the whole of the superannuation interest; and

  (ii)   the interest was in the payment phase at the date when the agreement was served on the trustee under section   90XI or 90YM of the Act; and

  (c)   in the case of an interest in relation to which a splitting order under paragraph   90XT(1)(a) or 90YY(1)(a) of the Act applies--the interest was in the payment phase at the date of the order.

Note:   This Division does not apply to a payment split in respect of a small superannuation accounts interest--see paragraphs 17(1)(a) and 23(1)(b) of these Regulations.