Document ID: chunk:federal_register_of_legislation:F2023C01022:reg:14q:p1
Version: federal_register_of_legislation:F2023C01022
Segment Type: reg
Provision Reference: reg 14Q (pt 1/3)
Character Range: 82417–85173

14Q  New annuity established or amount transferred or rolled over or paid by trustee of a superannuation annuity (other than under regulation 14P) in satisfaction of non‑member spouse's entitlement under agreement or order
 (1) This regulation applies to a superannuation interest that is a percentage‑only interest if the interest is in a superannuation annuity that is one of the following:
 (a) an allocated annuity;
 (b) a market linked annuity;
 (c) a fixed term annuity;
 (d) a lifetime annuity, including a lifetime annuity that is payable for the lives of more than one person.
 (2) The requirements of this Division are satisfied in relation to a non‑member spouse's entitlement under a particular superannuation agreement or splitting order in respect of a superannuation interest of a member spouse if the requirements of subregulation (3), (4) or (5) are satisfied.
 (3) The requirements of this subregulation are satisfied if:
 (a) the trustee of the superannuation annuity has, in respect of the non‑member spouse's entitlement under the agreement or order, paid to the non‑member spouse an amount equal to the value of the non‑member spouse's entitlement in respect of the superannuation interest at the time of the payment; and
 (b) the interest:
 (i) was in the payment phase at the operative time in relation to the agreement or order; and
 (ii) is in the payment phase at the time of the payment.
 (4) The requirements of this subregulation are satisfied if:
 (a) the trustee of the superannuation annuity has, in respect of the non‑member spouse's entitlement under the agreement or order, transferred or rolled over to a superannuation fund or an RSA an amount, to be held for the benefit of the non‑member spouse, with a value equal to the value of the non‑member spouse's entitlement in respect of the superannuation interest at the time the amount is transferred or rolled over; and
 (b) the interest is in the payment phase at the time the amount is transferred or rolled over.
 (5) The requirements of this subregulation are satisfied if:
 (a) the trustee of the superannuation annuity has, in respect of the non‑member spouse's entitlement under the agreement or order, established any of the following new annuities for the benefit of the non‑member spouse:
 (i) an allocated annuity;
 (ii) a market linked annuity;
 (iii) a fixed term annuity;
 (iv) a lifetime annuity; and
 (b) the new annuity has a value equal to the value of the non‑member spouse's entitlement in respect of the superannuation interest at the time the new annuity is established; and
 (c) the interest is in the payment phase at the time the new annuity is established.
 (6) For subregulation (5):
 (a) the trustee of the superannuation annuity is taken to