Document ID: chunk:federal_register_of_legislation:C2024C00498:section:2a:p2
Version: federal_register_of_legislation:C2024C00498
Segment Type: section
Provision Reference: s 2A (pt 2/3)
Character Range: 6420–9047

is the operative time for the purposes of that Part in relation to a payment split under the agreement or order; or
 (b) 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.
original interest means a superannuation interest to which section 4AB applies.
payment split means a payment split within the meaning of Part VIIIB or VIIIC of the Family Law Act 1975.
permanently incapacitated has the meaning given by subsection 4AC(4).
retirement allowance means an allowance under subsection 4(1).
scheme value means the amount determined under the Allowance Orders.
splitting agreement means:
 (a) a superannuation agreement (within the meaning of Part VIIIB or VIIIC of the Family Law Act 1975); or
 (b) 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:
 (a) 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
 (b) 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.
spouse has a meaning affected by section 2C.
spouse allowance means an allowance under subsection 4(2).
standard allowance means:
 (a) a retirement allowance; or
 (b) a spouse allowance; or
 (c) an associate allowance.
superannuation interest means a superannuation interest within the meaning of Part VIIIB or VIIIC of the Family Law Act 1975.
transfer amount means:
 (a) if a splitting percentage applies—the amount worked out by multiplying the splitting percentage by the greater of:
 (i) the family law value; and
 (ii) the scheme value; or
 (b) if a base amount applies and the scheme value is not more than the family law value—the base amount; or
 (c) if a base amount applies and the scheme value is more than the family law value—the amount worked out using the formula:

transfer factor means the number rounded to 6 decimal places (rounding up if the seventh decimal place is 5 or more) that is worked out by dividing the number of whole dollars in the transfer amount by the number of whole dollars in the scheme value.