Commonwealth Consolidated Regulations Commonwealth Consolidated Regulations(1) This Division applies in relation to a superannuation interest (the original interest ) in a regulated superannuation fund, or an approved deposit fund, if:
(a) the original interest is subject to a payment split; and
(b) either:
(i) the original interest is an accumulation interest that is in the growth phase; or
(ii) an allocated pension, market linked pension or account - based pension is being paid in respect of the original interest.
(2) This Division does not apply to an accumulation interest:
(a) if:
(i) the interest is a partially vested accumulation interest; and
(ii) the transferable benefits in relation to the accumulation interest would be greater than the withdrawal benefit in relation to the member spouse; or
(b) if the interest is determined by reference to a traditional life insurance policy.
(3) This Division does not apply to an original interest if the trustee has created a non - member spouse interest under regulation 7A.03B.
(4) In this regulation:
"partially vested accumulation interest" has the meaning given by regulation 9 of the Family Law (Superannuation) Regulations 2001 .