Commonwealth Consolidated Acts

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FAMILY LAW ACT 1975 - SECT 90MD

Definitions

                   In this Part, unless the contrary intention appears:

"approved deposit fund " has the same meaning as in the SIS Act.

"declaration time " , in relation to a separation declaration, means the time when the declaration was signed by a spouse (or last signed by a spouse, if both spouses have signed).

Note:          If a spouse has died, the spouse's legal personal representative may sign a declaration (see subsection 90MP(2)).

"eligible superannuation plan " means any of the following:

                     (a)  a superannuation fund within the meaning of the SIS Act;

                     (b)  an approved deposit fund;

                     (c)  an RSA;

                     (d)  an account within the meaning of the Small Superannuation Accounts Act 1995 ;

                     (e)  a superannuation annuity (within the meaning of the Income Tax Assessment Act 1997 ).

"flagging order " means an order mentioned in subsection 90MU(1).

"flag lifting agreement " has the meaning given by section 90MN.

"in force " , in relation to an agreement, has the meaning given by section 90MG.

"interest " includes a prospective or contingent interest, and also includes an expectancy.

"marriage " includes a void marriage.

"member " , in relation to an eligible superannuation plan, includes a beneficiary (including a contingent or prospective beneficiary).

"member spouse " , in relation to a superannuation interest, means the spouse who has the superannuation interest.

"non-member spouse " , in relation to a superannuation interest, means the spouse who is not the member spouse in relation to that interest.

"operative time " :

                     (a)  in relation to a payment split under a superannuation agreement or flag lifting agreement--has the meaning given by section 90MI; or

                     (b)  in relation to a payment flag under a superannuation agreement--has the meaning given by section 90MK or paragraph 90MLA(2)(c) as appropriate; or

                     (c)  in relation to a payment split under a court order--means the time specified in the order.

"payment flag " means:

                     (a)  the application of section 90ML in relation to a superannuation interest; or

                     (b)  the application of a flagging order in relation to a superannuation interest.

"payment split " means:

                     (a)  the application of section 90MJ in relation to a splittable payment; or

                     (b)  the application of a splitting order in relation to a splittable payment.

"percentage-only interest " means a superannuation interest prescribed by the regulations for the purposes of this definition.

"regulated superannuation fund " has the same meaning as in the SIS Act.

"reversionary beneficiary " means a person who becomes entitled to a benefit in respect of a superannuation interest of a spouse, after the spouse dies.

"reversionary interest " has the meaning given by section 90MF.

"RSA " means a retirement savings account within the meaning of the Retirement Savings Accounts Act 1997 .

"secondary government trustee " means a trustee that:

                     (a)  is the Commonwealth, a State or Territory; and

                     (b)  is a trustee only because of the operation of section 90MDA.

"separation declaration " has the meaning given by section 90MP.

"SIS Act " means the Superannuation Industry (Supervision) Act 1993 .

"splittable payment " has the meaning given by section 90ME.

"splitting order " means an order mentioned in subsection 90MT(1).

"spouse " means:

                     (a)  a party to a marriage; or

                     (b)  a party to a de facto relationship.

"superannuation agreement " has the meaning given by sections 90MH and 90MHA.

"superannuation interest " means an interest that a person has as a member of an eligible superannuation plan, but does not include a reversionary interest.

"trustee " , in relation to an eligible superannuation plan, means:

                     (a)  if the plan is a fund that has a trustee (within the ordinary meaning of that word)--the trustee of the plan; or

                     (b)  if paragraph (a) does not apply and a person is identified in accordance with the regulations as the trustee of the plan for the purposes of this definition--the person identified in accordance with the regulations; or

                     (c)  in any other case--the person who manages the plan.

"unflaggable interest " means a superannuation interest prescribed by the regulations for the purposes of this definition.

"unsplittable interest " means a superannuation interest prescribed by the regulations for the purposes of this definition.



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