Commonwealth Numbered Regulations

FAMILY LAW (SUPERANNUATION) AMENDMENT (2022 MEASURES NO. 1) REGULATIONS 2022 (F2022L00360) - SCHEDULE 1

Part 1 -- Amendments commencing day after registration

Family Law (Superannuation) Regulations 2001

1  Regulation 3

Insert:

"Deed " means the trust Deed as existing at the time this definition commences governing the scheme continued in existence under section 5 of the Superannuation (State Public Sector) Act 1990 (Qld).

"Government Division Rules " means the Division Rules (within the meaning of the Deed) as existing at the time this definition commences that relate to the Government Division referred to in clause 2.1 of the Deed.

"Participation Schedule " means the part of the Government Division Rules known as the Participation Schedule.

2  Regulation 9B (heading)

Repeal the heading, substitute:

9B   Meaning of percentage-only interest --parliament 70 category under the Deed

3  Subregulation 9B(1)

Omit "of the Deed", substitute "of the Government Division Rules".

4  Paragraphs 9B(2)(c) and (d)

Omit "Deed", substitute "Participation Schedule".

5  Subregulation 9B(3) (definition of Deed )

Repeal the definition.

6  Paragraph 11(1A)(a)

Omit "(1)", substitute "one".

7  Paragraph 12(1)(c)

Omit "subregulation 6.01(2)", substitute "regulation 1.03C".

8  Paragraph 12(1)(ea)

Omit "established by the Superannuation (State Public Sector) Deed 1990 (Qld)", substitute "continued in existence by the Superannuation (State Public Sector) Act 1990 (Qld)".

9  Subparagraphs 12(1)(ea)(i), (ii) and (iii)

Omit " Superannuation (State Public Sector) Deed 1990 (Qld), as in force at the commencement of the Family Law Legislation Amendment (Superannuation) Act 2001 ", substitute "Participation Schedule".

10  At the end of paragraph 12(1)(ea)

Add:

Note:          In 2022, the scheme continued in existence by the Superannuation (State Public Sector) Act 1990 (Qld) was known as the Australian Retirement Trust.

Part 2 -- Amendments commencing 28 December 2002

Family Law (Superannuation) Regulations 2001

11  Subregulation 64(2)

After "(7),", insert "(7AA),".

12  After subregulation 64(7)

Insert:

       (7AA)  If, under regulation 38, the Minister has approved a method or factors to be used to determine the gross value of a superannuation interest that is made up of a component that is a defined benefit interest and a component that is an accumulation interest (other than a partially vested accumulation interest), the Minister may, by written determination, provide any or all of the following:

                     (a)  that the trustee is not required to provide the information about the component that is a defined benefit interest mentioned in one or more paragraphs of subregulation 64(4);

                     (b)  that the trustee is not required to provide the information about the component that is the accumulation interest mentioned in one or more paragraphs of subregulation 63(4);

                     (c)  that the trustee must provide other information, as specified in the determination, about the superannuation interest or a component of the superannuation interest.

13  Subregulation 64(8)

After "(7),", insert "(7AA),".

14  Subparagraph 64A(1)(c)(i)

After "(7),", insert "(7AA),".