Definitions
49A Definitions
In this Part, unless the contrary intention appears:
associate pension means associate pension under section 49B.
base amount means:
for a splitting agreement—the base amount specified in, or calculated under, the agreement; or
for a splitting order—the amount allocated under subsection 90XT(4) or 90YY(5) (as the case may be) of the Family Law Act 1975.
family law value means:
in relation to a superannuation interest within the meaning of Part VIIIB of the Family Law Act 1975—the amount determined in accordance with regulations under that Act that apply for the purposes of paragraph 90XT(2)(a) of that Act; or
in relation to a superannuation interest within the meaning of Part VIIIC of the Family Law Act 1975—the amount determined in accordance with regulations under that Act that apply for the purposes of paragraph 90YY(2)(a) of that Act.
In applying regulations referred to in paragraph (a) or (b), the relevant date is taken to be the date on which the operative time occurs.
This amount is determined by applying those regulations, whether or not an order has been made under subsection 90XT(1) or 90YY(1) (as the case may be) of the Family Law Act 1975.
member spouse means a member spouse within the meaning of Part VIIIB or VIIIC of the Family Law Act 1975.
non‑member spouse means a non‑member spouse within the meaning of Part VIIIB or VIIIC of the Family Law Act 1975.
non‑standard pension means a pension benefit other than standard pension.
operative time means:
for a splitting agreement that is a superannuation agreement or a flag lifting agreement within the meaning of Part VIIIB of the Family Law Act 1975 or for a splitting order within the meaning of that Part—the time that is the operative time for the purposes of that Part in relation to a payment split under the agreement or order; or
for a splitting agreement that is a superannuation agreement or a flag lifting agreement within the meaning of Part VIIIC of the Family Law Act 1975 or for a splitting order within the meaning of that Part—the time that is the operative time for the purposes of that Part in relation to a payment split under the agreement or order.
Orders means Orders under section 49F.
original interest means a superannuation interest to which section 49B applies.
payment split means a payment split within the meaning of Part VIIIB or VIIIC of the Family Law Act 1975.
scheme value means the amount determined under the Orders.
splitting agreement means:
a superannuation agreement (within the meaning of Part VIIIB or VIIIC of the Family Law Act 1975); or
a flag lifting agreement (within the meaning of Part VIIIB or VIIIC of the Family Law Act 1975) that provides for a payment split.
splitting order means a splitting order within the meaning of Part VIIIB or VIIIC of the Family Law Act 1975.
splitting percentage means:
for a splitting agreement—the percentage specified in the agreement under subparagraph 90XJ(1)(c)(iii) or 90YN(1)(c)(iii) (as the case may be) of the Family Law Act 1975; or
for a splitting order—the percentage specified in the order under subparagraph 90XT(1)(b)(i) or 90YY(1)(b)(i) (as the case may be) of the Family Law Act 1975.
standard pension means any of the following:
retirement pay;
invalidity benefit;
pension under section 38 or 39;
pension under section 43A or 44;
associate pension.
superannuation interest means a superannuation interest within the meaning of Part VIIIB or VIIIC of the Family Law Act 1975.
transfer amount means:
if a splitting percentage applies—the amount calculated by multiplying the splitting percentage by the greater of:
the family law value; and
the scheme value; or
if a base amount applies and the scheme value is not more than the family law value—the base amount; or
if a base amount applies and the scheme value is more than the family law value—the amount calculated using the formula:
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