FAMILY LAW (SUPERANNUATION) REGULATIONS 2001 - REG 58D Amount to be paid to non - member spouse--first splittable payment after operative time less than amount of earlier payments plus base amount

FAMILY LAW (SUPERANNUATION) REGULATIONS 2001 - REG 58D

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

  (a)   the first splittable payment that becomes payable in respect of the interest after the operative time is not a payment in respect of an allocated pension or a market linked pension; and

  (b)   the amount of that payment is less than the sum of:

  (i)   the amount payable under subregulation   50(3), 51(6), 53(4), 54(2), 57(3) or 58(6) or this regulation to each other person under a payment split with an earlier operative time; and

  (ii)   the base amount allocated to the non - member spouse in relation to the interest.

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

  (a)   the amount of the first splittable payment; and

  (b)   from each other splittable payment that becomes payable in respect of the interest, the amount calculated in accordance with subregulation (3).

Note for paragraph   (a):   Because of the operation of subsections   90XX(3) and 90YZN(3) of the Act, the amount under paragraph   (a) will be the amount of the first splittable payment as reduced by the amount to which another person is entitled under each payment split with an earlier operative time.

  (3)   For paragraph   (2)(b), the amount is calculated in accordance with the following formula:

    where:

"BA" is the base amount allocated to the non - member spouse in relation to the superannuation interest.

"X" is the amount of the first splittable payment paid to the non - member spouse under paragraph   (2)(a).

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

"A" has the meaning given by subregulation   57(3).