Document ID: chunk:federal_register_of_legislation:C2025C00162:section:9ba:p2
Version: federal_register_of_legislation:C2025C00162
Segment Type: section
Provision Reference: s 9BA (pt 2/5)
Character Range: 163730–166340

beneficiary—on or after the partner's death; or
 (iv) if subparagraph (iii) does not apply—on or after the primary beneficiary's death; or
 (v) to the extent necessary to cover any superannuation contributions surcharge relating to the income stream; or
 (vi) to the extent necessary to give effect to an entitlement of the person's partner or former partner under a payment split under Part VIIIB or VIIIC of the Family Law Act 1975; or
 (via) to the extent necessary in order to comply with section 136‑80 in Schedule 1 to the Taxation Administration Act 1953; or
 (vii) to the extent necessary to pay a hardship amount; and
 (g) that the income stream cannot be transferred except on death; and
 (h) that neither the capital value of the income stream, nor the income from it, can be used as security for a borrowing; and
 (i) that, if the income stream reverts, it must not have a reversionary component greater than the account balance immediately before the reversion; and
 (j) that, if the income stream is commuted, the commuted amount must not be greater than the account balance immediately before the commutation.

Term of the income stream
 (3) An income stream's term complies with this subsection if it is a period of whole years that:
 (a) starts on the income stream's commencement day; and
 (b) is at least as long as the primary beneficiary's life expectancy (rounded up, if not consisting of a whole number of years, to the next whole number) on the commencement day; and
 (c) is at most as long as the greater of:
 (i) what would be the primary beneficiary's life expectancy (rounded up, if not consisting of a whole number of years, to the next whole number) on the commencement day if the primary beneficiary were 5 years younger; and
 (ii) the period (rounded up, if not consisting of a whole number of years, to the next whole number) starting on the commencement day and ending on the day on which the primary beneficiary reaches age 100 (assuming that the primary beneficiary lives until then).
 (4) An income stream's term complies with this subsection if it is a period of whole years that:
 (a) starts on the income stream's commencement day; and
 (b) is at least as long as the greater of the life expectancies (rounded up, if not consisting of a whole number of years, to the next whole number), on the commencement day, of:
 (i) the primary beneficiary; and
 (ii) the primary beneficiary's reversionary partner on that day; and
 (c) is at most as long as the period worked out under subsection (4A).
 (4A) For the purposes of paragraph (4)(c), the period is the greater of:
 (a)