FAMILY LAW (SUPERANNUATION) REGULATIONS 2001 - REG 54 Amount to be paid to non - member spouse--no benefit payable only as lump sum or first splittable payment not lump sum

FAMILY LAW (SUPERANNUATION) REGULATIONS 2001 - REG 54

  (1)   This regulation applies in relation to the superannuation interest if:

  (a)   benefits in respect of the interest are not payable as an allocated pension or a market linked pension, and no benefit is payable to the member spouse or other person as a lump sum (including a lump sum that the member spouse or other person may choose to take, by way of a commutation of a pension payable to him or her, or otherwise, in respect of the whole, or a part, of the benefits in respect of the interest); or

  (b)   the first splittable payment that the member spouse or other person is entitled to receive is not a lump sum, but a lump sum is payable in respect of the interest at a later time.

  (2)   The amount that the non - member spouse is entitled to be paid in respect of each splittable payment that becomes payable in respect of the superannuation interest is:

where:

"ABA" is the adjusted base amount applicable to the non - member spouse at the date when the first splittable payment becomes payable in respect of the superannuation interest.

"SP" is the amount of the relevant splittable payment.

"A" is the amount in relation to the superannuation interest at the date when the first splittable payment becomes payable in respect of the superannuation interest, determined in accordance with the relevant method set out in Division   5.2, as if references in that Division to 'the relevant date' were references to 'the date when the first splittable payment becomes payable in respect of the superannuation interest'.