Superannuation Industry (Supervision) Amendment Regulations 2002 (No. 5) (353 of 2002)

Schedule 1   Amendments

49   Subregulations 7A.13 (5) and (6)

substitute

(5) The value of the benefits that the member spouse has in his or her interest must be reduced by the sum of:

(a) the value of the lump sum paid to the non-member spouse; and

(b) the amount of any fees payable by the non-member spouse in respect of the payment split.

(6) In paying the lump sum to the non-member spouse:

(a) a proportion must be taken from the unrestricted non-preserved benefits, the restricted non-preserved benefits and the preserved benefits of the member spouse; and

(b) the proportion taken from each category of benefits must be the same as the category bears to the member spouse's interest immediately before the payment was made.