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

Schedule 1   Amendments

41   Subregulations 7A.11 (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 benefits that the non-member spouse has in the new interest; and

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

(6) In creating the new interest:

(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 new interest was created.