• Specific Year
    Any

SUPERANNUATION INDUSTRY (SUPERVISION) REGULATIONS 1994 - REG 7A.03 Trustee to give payment split notice

SUPERANNUATION INDUSTRY (SUPERVISION) REGULATIONS 1994 - REG 7A.03

Trustee to give payment split notice

  (1)   If an interest in a regulated superannuation fund or an approved deposit fund becomes subject to a payment split, the trustee of the fund must notify the member spouse and the non - member spouse in relation to the interest that the interest is subject to a payment split.

  (2)   The notice must:

  (a)   be in writing; and

  (b)   state the date on which it is given.

  (3)   The notice must be given:

  (a)   for a payment split under a superannuation agreement or flag lifting agreement--within 28 days after the operative time for the payment split; and

  (b)   for a payment split under a splitting order--by the later of:

  (i)   the end of 28 days after the operative time for the payment split; and

  (ii)   the end of 28 days after the trustee receives a copy of the order.

  (4)   Despite subregulation   (1), the trustee is not required to give a payment split notice in respect of an interest if the interest ceases to be subject to a payment split:

  (a)   before the end of the period applying under subregulation   (3); and

  (b)   for a reason other than the creation of a non - member spouse interest under regulation   7A.03B.

Note:   A non - member spouse may also be entitled to information under section   1017C of the Corporations Act 2001 , Division   2.5 and Division   2.5A.

Download

No downloadable files available