Superannuation Industry (Supervision) Regulations 1994
This regulation applies if the trustee rolls over or transfers transferable benefits: (a) to give effect to a request under regulation 7A.06 ; or (b) 7A.10(1)(b) or (c) ; or (c) 7A.09(3) or (3A) .
The value of the benefits that the member spouse has in his or her interest must be reduced by the sum of: (a)
(i) the transferable benefits; or
(b) the amount of any fees payable by the non-member spouse in respect of the payment split.
(ii) if paragraph (3A)(c) applies - the benefits that are rolled over or transferred; and
If the payment split is a base amount payment split, and a splittable payment becomes payable in respect of the member spouse ' s interest before the trustee rolls over or transfers the transferable benefits, the amount rolled over or transferred for the non-member spouse must be the transferable benefits less the amount the non-member spouse is entitled to in respect of the splittable payment.
In rolling over or transferring the transferable benefits: (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) (c)
The benefits held in the new interest are unrestricted non-preserved benefits, restricted non-preserved benefits or preserved benefits in accordance with the character that the benefits had in the member spouse ' s interest.
The trustee must roll over or transfer the transferable benefits as follows: (a) 7A.06 , it must be done within:
(i) 30 days after receiving the request; or
(b) 7A.10(2) .
(ii) any longer period allowed by the Regulator;
(c) (Repealed by FRLI No F2021L00412)
The trustee must give to the member spouse and the non-member spouse, within 28 days after the transferable benefits are rolled over or transferred, a written notice stating: (a) that the benefits have been rolled over or transferred; and (b) the amount that was transferred or rolled over; and (c)
(i) if the trustee had previously provided information to the non-member spouse under regulation 2.36D - the end of the last completed reporting period; or
(ii) in any other case - the operative time.
(d) (Repealed by FRLI No F2021L00412)
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