Document ID: chunk:federal_register_of_legislation:F2025L00281:clause:1_98:p3
Version: federal_register_of_legislation:F2025L00281
Segment Type: clause
Provision Reference: sch 1 cl 98 (pt 3/9)
Character Range: 1544708–1547288

the date '29 February' has occurred in that period or will occur before the person's next birthday — 366; or
 (b) in any other case — 365.
 (2) In clause 2:
Fy+m is the factor calculated in accordance with the formula:
where:
Fy is the valuation factor mentioned in whichever of Table 1 to 7 of Division 7.4 is applicable, given:
 (a) the person's gender; and
 (b) the person's age in completed years at the relevant date (y); and
 (c) the person's age at the person's entry date; and
 (d) if the person was under 28 years at the person's entry date, the average rate at which that person has accumulated accrued benefit points calculated in accordance with the formula:
where:
ABP and C have the meanings given by clause 2.
m is the number of complete months of the person's age that are not included in the person's age in completed years at the relevant date.
Fy+1 is the valuation factor in whichever of Table 1 to 7 of Division 7.4 is applicable to the person if the person's age in completed years at the relevant date were 1 year more than it is.

4 Reduction factor
 (1) Reduction factor is:
 (a) if the requirements of Part 3 of the Regulations have been satisfied in respect of the entitlement of only one spouse of the person, being an entitlement arising under a particular superannuation agreement, flag lifting agreement or splitting order that applies in respect of the interest — the amount calculated in accordance with the formula set out in subclause (2); or
 (b) if the requirements of Part 3 of the Regulations have been satisfied in respect of the entitlement of 2 or more spouses of the person, being entitlements each arising under a superannuation agreement, flag lifting agreement or splitting order that applies to the interest — the product of the amounts calculated in accordance with the formula set out in subclause (2) in respect of each entitlement; or
 (c) in any other case — 1.
 (2) For paragraphs (1) (a) and (b), each amount is calculated in accordance with the formula:
where:
NMProp is the quotient of:
 (a) the value of the spouse's entitlement under the agreement or order immediately before the time when the requirements of Part 3 of the Regulations were satisfied; and
 (b) the gross value of the person's interest, immediately before those requirements were satisfied, determined in accordance with the method set out in the table following clause 2.
ABPs is a person's accrued benefit points at the date when the requirements of Part 3 of the Regulations were satisfied in respect of the entitlement of the spouse of the person under