Document ID: chunk:federal_register_of_legislation:F2025C00069:front:0:p19
Version: federal_register_of_legislation:F2025C00069
Segment Type: other
Provision Reference: 
Character Range: 52051–54742

not dissected (whether by reference to the investment component or otherwise); and
 (c) the sum insured, together with bonuses (if any), is payable only on:
 (i) the death of the life insured; or
 (ii) the occurrence of the earlier of the death of the life insured and the attainment by the life insured of the age specified in the policy.
transferable benefits, in relation to a superannuation interest that is subject to a payment split and in relation to the non‑member spouse in relation to that interest, means benefits that are equal to:
 (a) if the payment split is a base amount payment split and an adjusted base amount applies to the non‑member spouse when the benefits are transferred—the adjusted base amount less the amount of any fees payable by the non‑member spouse in respect of the payment split; or
 (b) if the payment split is a base amount payment split and an adjusted base amount does not apply to the non‑member spouse when the benefits are transferred—the base amount allocated to the non‑member spouse, within the meaning of regulation 45 of the Family Law (Superannuation) Regulations 2001, less the amount of any fees payable by the non‑member spouse in respect of the payment split; or
 (c) if the payment split is a percentage payment split:
 (i) for an entitlement, in respect of an accumulation interest in the growth phase that is not a partially vested accumulation interest, to which subparagraph (ii) does not apply—the amount in relation to the interest at the time when the benefits are transferred, determined in the way in which a court would determine an amount in accordance with regulation 28 and subregulation 31(2A) of the Family Law (Superannuation) Regulations 2001, multiplied by the specified percentage, less the amount of any fees payable by the non‑member spouse in respect of the payment split; or
 (ii) for an entitlement in respect of an interest in a self‑managed superannuation fund—the amount in relation to the interest at the time when the benefits are transferred, determined by a method that a court might use if the court were acting under paragraph 90XT(2)(b) or 90YY(2)(b) (as the case may be) of the Family Law Act 1975, multiplied by the specified percentage, less the amount of any fees payable by the non‑member spouse in respect of the payment split; or
 (iii) for an entitlement in respect of any other interest—the amount in relation to the interest at the time when the benefits are transferred, determined in the way in which a court would determine an amount in accordance with the relevant method in Part 5 of the Family Law (Superannuation) Regulations 2001, multiplied by the specified percentage, less the amount