Document ID: chunk:federal_register_of_legislation:F2024C00260:clause:1_98:p6
Version: federal_register_of_legislation:F2024C00260
Segment Type: clause
Provision Reference: sch 1 cl 98 (pt 6/9)
Character Range: 1559809–1562297

entitlement of each spouse, if:
 (A) STC were to pay to the person the balance of his or her contributor's account had the person applied for payment of a benefit under Part 5 of that Act at the relevant date; and
 (B) the balance of that account had remained equal to the value of each spouse's entitlement under the agreement or order in the period commencing at the time when the Division 2.2 requirements were satisfied and ending at the relevant date in respect of each interest; or
 (c) in any other case — nil.

Subdivision 7.2.3 Deferred beneficiaries

6 Method for interests in SAS Scheme
  For an interest:
 (a) that is held by a person who is entitled, in the event of death, to the benefit provided by subsection 43 (6) of the SAS Act; and
 (b) that is in the growth phase in the SAS Scheme;
the method set out in the following table is approved for section 4 of this instrument.
Note   This method applies to former employees and to employees:
(a) who are taken to have made provision for a deferred benefit in accordance with Part 1 of Schedule 5 to the SAS Act because they transferred their superannuation coverage and became contributors to another superannuation scheme; and
(b) who, after a salary reduction when they turned 55 years or more, elected to make provision for a benefit in accordance with Part 2 of Schedule 5 to the SAS Act; and
(c) who are executive officers who elected to make provision for a benefit in accordance with paragraph 30A (1) (b) of the SAS Act.

Method
where:
CFB is the amount that would be payable from the contributor's account of the person if the person had applied for payment of a benefit at the relevant date.
EFB is the person's employer‑financed benefit calculated in accordance with paragraph 43 (6) (b) of the SAS Act if the person had died on the relevant date.
Dy+m has the meaning given by clause 7.
R is the reduction factor under clause 8.

7 Definition of Dy+m
 (1) In clause 6:
Dy+m is:
 (a) if subsection (2) applies — 1; or
 (b) otherwise — the factor calculated in accordance with the formula set out in subclause (3).
 (2) For paragraph (a) of the definition of Dy+m in subsection (1), this subsection applies if:
 (a) the person has reached the person's early retirement age; or
 (b) the person elected to make provision for a benefit in accordance with paragraph 30A (1) (b) of the SAS Act; or
 (c) the person elected to make provision for a benefit in accordance with Part 2 of Schedule 5 to the SAS Act when the