Commonwealth Consolidated Regulations Commonwealth Consolidated Regulations(1) This regulation applies to an interest in a fund to which a transition period (within the meaning of section 1410 of the Corporations Act 2001 ) applies, if:
(a) the interest is subject to a base amount payment split; and
(b) the interest is not a percentage‑only interest; and
(c) the interest is in the growth phase; and
(d) none of the following has occurred as a result of a payment split:
(i) a new interest was created for the non‑member spouse;
(ii) the transferable benefits of the non‑member spouse were transferred or rolled out of the fund;
(iii) the amount to which the non‑member spouse is entitled under the payment split was paid, as a lump sum, to the non‑member spouse.
(2) The trustee of the fund must give to the member spouse and the non‑member spouse the following information for each reporting period:
(a) the value of the adjusted base amount applicable to the non‑member spouse at the end of the reporting period;
(b) the amount of the adjustment in the reporting period;
(c) the method used to calculate the adjustment, including the rate of return over the reporting period.
(3) The information required under subregulation (2):
(a) must be given as soon as practicable after the end of the relevant reporting period; and
(b) in the case of information that is to be given to the member spouse, must be given with the information required to be given to the member spouse under Subdivision 2.4.2 of the old Regulations.
(4) In this regulation:
"reporting period" means a reporting period that applies under Subdivision 2.4.2 of the old Regulations.
Note A non‑member may also be entitled to information under section 1017C of the Corporations Act 2001 and Division 2.5.