New South Wales Repealed Regulations

This legislation has been repealed.

SUPERANNUATION REGULATION 2006 - REG 8D

8D Payment of family law superannuation entitlements

(1) If the amount of a family law superannuation entitlement is to be paid or released to a non-contributor spouse, the amount must be paid or released by STC when, or as soon as practicable after, a nomination is received under clause 8C (4).

(2) If the amount of a family law superannuation entitlement is to be transferred or rolled over, the amount must be transferred or rolled over:

(a) to a complying superannuation fund or RSA nominated under this Part within 90 days of the nomination being made, or

(b) if no nomination is made within the period prescribed by this Part, to the First State Superannuation Fund within 90 days of the end of the period.

(3) Nothing in subclause (2) (b) prevents STC from transferring or rolling over the amount of a family law superannuation entitlement to a complying superannuation fund or RSA if a nomination is made by a non-contributor spouse after the end of the period referred to in clause 8C (5).

(4) STC must give to the contributor, within 28 days after an amount of family law superannuation entitlement is paid or released or transferred or rolled over, a notice in writing stating:

(a) that the amount has been paid, released, transferred or rolled over, and

(b) the amount paid, released, transferred or rolled over and how it was calculated, and

(c) the estimated effect of that action on the benefit of the contributor.

(5) STC must give to the non-contributor spouse, within 28 days after an amount of family law superannuation entitlement is paid or released or transferred or rolled over, a notice in writing stating:

(a) that the amount has been paid, released, transferred or rolled over, and

(b) the amount paid, released, transferred or rolled over and how it was calculated, and

(c) the name and contact details of the superannuation fund or RSA, if any, to which the amount was transferred or rolled over.

Note: Under regulation 59 of the Family Law (Superannuation) Regulations 2001 of the Commonwealth, STC may charge reasonable fees in respect of payment splits, payment flags, flag lifting and other related matters. Such fees are payable in equal parts by the contributor and the non-contributor spouse.