Victorian Numbered Acts Victorian Numbered ActsAfter section 83(7) of the Constitution Act 1975 insert —
"(8) For the purpose of regulation 65 of the Family Law (Superannuation) Regulations 2001 of the Commonwealth, the Minister on the advice of an actuary appointed by the Minister may from time to time determine the accrued benefit multiple.
(9) Subject to subsections (13) and (14), the Minister must comply with subsections (11) and (12) if—
(a) a superannuation agreement which provides for a payment split; or
(b) a flag lifting agreement which provides for a payment split; or
(c) a splitting order—
is served on the Minister under Part VIIIB of the Family Law Act 1975 of the Commonwealth.
(10) Subsections (11) and (12) also apply to—
(a) a superannuation agreement which provides for a payment split; or
(b) a flag lifting agreement which provides for a payment split; or
(c) a splitting order—
which was served on the Minister under Part VIIIB of the Commonwealth Family Law Act 1975 before the commencement of section 3 of the Constitution Amendment (Judicial Pensions) Act 2008 if the non-member spouse's entitlements in respect of the superannuation interest have not been satisfied as at that commencement.
(11) If the non-member spouse has not satisfied a relevant condition of release and the member spouse is not receiving a pension under this Act, the Minister must if the value of the non-member spouse's entitlement in respect of the superannuation interest at the particular time does not exceed the value of the member spouse's interest in the Fund—
(a) transfer a lump sum amount equal to the value of the non-member spouse's entitlement in respect of the superannuation interest at the time of the payment to an eligible superannuation plan nominated in writing by the non-member spouse within the specified period; or
(b) if the non-member spouse fails to nominate in writing an eligible superannuation plan within the specified period, transfer a lump sum amount equal to the value of the non-member spouse's entitlement in respect of the superannuation interest at the time of the payment to an eligible rollover fund selected by the Minister.
(12) If the non-member spouse has satisfied a relevant condition of release or the member spouse is receiving a pension under this Act, the Minister must if the value of the non-member spouse's entitlement in respect of the superannuation interest at the particular time does not exceed the value of the member spouse's interest in the Fund—
(a) if so requested in writing by the non-member spouse within the specified period, pay the non-member spouse a lump sum amount equal to the value of the non-member spouse's entitlement in respect of the superannuation interest at the time of the payment; or
(b) if so requested in writing by the non-member spouse within the specified period, transfer a lump sum amount equal to the value of the non-member spouse's entitlement in respect of the superannuation interest at the time of the payment to an eligible superannuation plan nominated in writing by the non-member spouse; or
(c) if no request is received from the non-member spouse within the specified period, transfer a lump sum amount equal to the value of the non-member spouse's entitlement in respect of the superannuation interest at the time of the payment to an eligible rollover fund selected by the Minister.
(13) Subsections (11) and (12) do not apply if—
(a) the member spouse's superannuation interest is an unsplittable interest; or
(b) a payment flag is operating in respect of the member spouse's superannuation interest; or
(c) the non-member spouse has served a waiver notice on the Minister under section 90MZA of the Family Law Act 1975 of the Commonwealth in respect of the member spouse's superannuation interest; or
(d) the member spouse's superannuation interest is a payment that is not a splittable payment under Part 2 of the Family Law (Superannuation) Regulations 2001 of the Commonwealth.
(14) If the member spouse's superannuation interest is a pension under this Act due to a disability which is a splittable payment, the Minister may determine that subsections (11) and (12) do not apply.
(15) If the non-member spouse serves a waiver notice on the Minister under section 90MZA of the Family Law Act 1975 of the Commonwealth in respect of the member spouse's superannuation interest, the Minister may make a payment to the non-member spouse not exceeding the value at a particular time of the non-member spouse's entitlement in respect of the superannuation interest less any payments previously made by the Minister to the non-member spouse in accordance with this section.
(16) Despite anything to the contrary in this Act, if under subsection (11), (12) or (15) an amount is paid by the Minister to a non-member spouse or transferred by the Minister on behalf of a non-member spouse, the benefit of a member spouse must be reduced by the Minister in accordance with a methodology approved by the Minister, on the advice of an actuary appointed by the Minister.
(17) On the application of an eligible person within the meaning of section 90MZB(8) of the Family Law Act 1975 of the Commonwealth, the Minister may provide information additional to the information required to be provided under section 90MZB of that Act if the Minister considers that the additional information is necessary to understand the member spouse's benefit entitlements.
(18) The entitlement of a person to convert or commute a benefit or pension under this Act is not affected by the making of a payment or transfer under subsection (11), (12) or (15).
(19) The Minister may charge reasonable fees in respect of—
(a) a payment split;
(b) a payment flag;
(c) flag lifting under a flag lifting agreement that does not provide for a payment split;
(d) an order under section 90MM of the Family Law Act 1975 of the Commonwealth terminating the operation of a payment flag;
(e) an application under section 90MZB of the Family Law Act 1975 of the Commonwealth for information about a superannuation interest;
(f) any other thing done by the Minister in relation to a superannuation interest covered by a superannuation agreement, flag lifting agreement or splitting order;
(g) the provision of information
under subsection (17).
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(20) Fees charged under subsection (19) must not exceed the maximum levels of fees fixed by the Minister for the purposes of this section by notice published in the Government Gazette.
(21) If the Minister charges a fee under subsection (19), the fee is payable—
(a) unless paragraph (b) applies, in the case of subsection (19)(a), (19)(b), (19)(c), (19)(d) or (19)(f), by the member spouse and the non-member spouse in equal parts;
(b) if the fee is in respect of a payment split under which the non-member spouse is entitled to be paid the whole of the amount of each splittable payment that becomes payable, by the non-member spouse;
(c) in the case of subsection (19)(e) or (19)(g), by the person who made the application.
(22) For the purposes of this section, the Minister may, with such modifications as are necessary, adopt any specified standards made by Order in Council under section 92A of the State Superannuation Act 1988 for the purposes of Part 7A of that Act.".
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