Superannuation Industry (Supervision) Regulations 1994
(a) a superannuation interest in a fund is subject to a payment split, or a non-member spouse interest has been created under regulation 7A.03B ; and
(b) the non-member spouse in relation to the interest was not a member of the fund immediately before the operative time for the payment split.
View history note
Hide history noteFor the purposes of the provisions of the Act set out in Table 1, the non-member spouse is to be treated as being a member of the fund in which the interest is held from the later of:
(a) the operative time for the payment split; and
(b) the time that the trustee receives the agreement or order under which the payment split is effected.
| Table 1 | |
| Item | Provision |
| 1 | subsection 17A, except subsection (5) (definition of self managed superannuation fund) |
| 2 | section 65 (lending to members of regulated superannuation fund prohibited) |
| 3 | Part 8 (in-house asset rules applying to regulated superannuation funds) |
For subsection 17A(5) of the Act, the non-member spouse is to be treated as being a member of the fund in which the interest is held from the later of:
(a) the end of 6 months after the operative time for the payment split; and
(b) the end of 6 months after the time that the trustee receives the agreement or order under which the payment split is effected.
For regulation 1.03A , the non-member spouse is to be treated as being a member of the fund in which the interest is held from the operative time for the payment split.
For subsection 17A(5) of the Act, a non-member spouse who became a member of a fund as a result of the creation of a non-member spouse interest under Division 7A.1A is not treated as a member of the fund until the earlier of:
(a) 6 months after the operative time for the payment split; and
(b) the time that the non-member spouse ' s interest in the fund is confirmed under regulation 7A.03H or 7A.03I .
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