Superannuation Industry (Supervision) Regulations 1994

PART 6 - PAYMENT STANDARDS  

Division 6.2 - Payment of benefits  

REGULATION 6.17AA  

6.17AA   PAYMENTS PREVENTED UNDER FAMILY LAW ACT 1975  

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If a trustee of a regulated superannuation fund or an approved deposit fund does not make a payment in accordance with the standard set out in subregulation 6.17(2) because the trustee is prevented from doing so:

(a)    

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under subsection 90XL(4) or 90YP(4) of the Family Law Act 1975 ; or

(b)    

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by an order made under subsection 90XU(1) or 90YZ(1) of the Family Law Act 1975 ;

the trustee is not in breach of the standard.

Note 1:

Subsections 90XL(4) and 90YP(4) of the Family Law Act 1975 provide that while a payment flag is operating on a superannuation interest, the trustee must not make any splittable payment to any person in respect of the interest.

Note 2:

Subsections 90XU(1) and 90YZ(1) of the Family Law Act 1975 provide that a court may make an order in relation to a superannuation interest directing the trustee not to make a splittable payment in respect of the interest without the leave of the court.

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History

Reg 6.17AA amended by FRLI No F2021L01893, reg 4 and Sch 1 items 188 - 190, by substituting " 90XL(4) or 90YP(4) " for " 90ML(4) " in para (a), " 90XU(1) or 90YZ(1) " for " 90MU(1) " in para (b) and substituting notes 1 and 2 for the note, effective 28 September 2022. The note formerly read:

Note: Subsection 90ML(4) of the Family Law Act 1975 provides that while a payment flag is operating on a superannuation interest, the trustee must not make any splittable payment to any person in respect of the interest. Subsection 90MU(1) of the Family Law Act 1975 provides that a court may make an order in relation to a superannuation interest directing the trustee not to make a splittable payment in respect of the interest without the leave of the court.

Reg 6.17AA inserted by SR No 353 of 2002, reg 3 and Sch 1 item 28, effective 28 December 2002.

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