Superannuation Industry (Supervision) Amendment Regulations 2001 (No. 3) (353 of 2001)

Schedule 1   Amendments

[50]   Subregulation 10.03 (2), including the note

substitute

(2) For paragraph 243 (1) (c) of the Act, the condition is that the beneficiary is not a non-member spouse whose entitlement under a payment split is to be dealt with under regulation 7A.16.

(3) For paragraph 243 (3) (b) of the Act, the amount of the consideration for the issue of a superannuation interest is the amount of the beneficiary's withdrawal benefit in the transferor fund (not including any amount that would be payable to the member's spouse or former spouse under a payment split).

Note Section 243 of the Act sets out the circumstances in which the trustee of a fund may apply to an eligible rollover fund, on behalf of a beneficiary of the fund, for the issue of a superannuation interest in the eligible rollover fund to the beneficiary.