Superannuation Industry (Supervision) Amendment Regulations 2004 (No. 6) (153 of 2004)

Schedule 1   Amendments commencing on gazettal

[15]   Regulation 7A.03A

insert

(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.

(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 policy of life insurance mentioned in regulation 5.15D.