Superannuation Industry (Supervision) Regulations 1994

PART 7A - SUPERANNUATION INTERESTS SUBJECT TO PAYMENT SPLIT  

Division 7A.1A - Options for trustee in relation to interests  

REGULATION 7A.03A   APPLICATION OF DIVISION 7A.1A  

7A.03A(1)    
This Division applies in relation to a superannuation interest (the original interest ) in a regulated superannuation fund, if:

(a) the original interest is subject to a payment split; and

(b) an allocated pension, market linked pension or account-based pension is being paid in respect of the original interest; and

(c) the trustee:

(i) has not received a request under regulation 7A.05 , 7A.06 or 7A.07 ; and

(ii) has not taken an action under regulation 7A.10 in relation to the original interest.

7A.03A(2)    

Subject to subregulation (3), this Division also applies in relation to a superannuation interest (the original interest ) in a regulated superannuation fund, if:

(a) the original interest is subject to a payment split; and

(b) the original interest is an accumulation interest in the growth phase; and

(c) the trustee:

(i) has not received a request under regulation 7A.05 , 7A.06 or 7A.07 ; and

(ii) has not taken an action under regulation 7A.10 in relation to the original interest.

7A.03A(3)    

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.