Document ID: chunk:federal_register_of_legislation:F2025L00178:reg:35
Version: federal_register_of_legislation:F2025L00178
Segment Type: reg
Provision Reference: reg 35
Character Range: 101083–103275

35  Meaning of value of the non‑member spouse's entitlement
 (1) In this Subdivision, the value of the non‑member spouse's entitlement for a superannuation interest at the time (the termination time) when the trustee carries out an action described in subsections 34(1), (2) or (3) is as described in subsection (2), (3) or (4) of this section.

Superannuation interest is in an allocated annuity or market linked annuity
 (2) If the superannuation interest is in a superannuation annuity that is an allocated annuity or a market linked annuity, the value of the non‑member spouse's entitlement for the interest at the termination time is equal to:

Superannuation interest is in a fixed term annuity or a lifetime annuity, and the Minister has not approved a method or factors for the interest
 (3) If:
 (a) the superannuation interest is in a superannuation annuity that is a fixed term annuity or a lifetime annuity; and
 (b) the non‑member spouse's entitlement arises under a superannuation agreement, a flag lifting agreement or a splitting order; and
 (c) the Minister has not approved, under section 70, a method or factors for determining the gross value of the superannuation interest;
the value of the non‑member spouse's entitlement for the interest at the termination time is equal to:
where:
applicable Schedule means:
 (a) for a fixed term annuity—Schedule 9; or
 (b) for a lifetime annuity—Schedule 6.

Superannuation interest is in a fixed term annuity or a lifetime annuity, and the Minister has approved a method or factors for the interest
 (4) If:
 (a) the superannuation interest is in a superannuation annuity that is a fixed term annuity or a lifetime annuity; and
 (b) the non‑member spouse's entitlement arises under a superannuation agreement, a flag lifting agreement or a splitting order; and
 (c) the Minister has approved, under section 70, a method or factors for determining the gross value of the superannuation interest;
the value of the non‑member spouse's entitlement for the interest at the termination time is equal to:

Division 5—When the payment by the member spouse is in satisfaction of the non‑member spouse's entitlement under agreement or order