Document ID: chunk:federal_register_of_legislation:F2024C01224:front:0:p68
Version: federal_register_of_legislation:F2024C01224
Segment Type: other
Provision Reference: 
Character Range: 173068–175825

and an adjusted base amount does not apply to the non‑member spouse when the new RSA is opened—the base amount allocated to the non‑member spouse, within the meaning of regulation 45 of the Family Law (Superannuation) Regulations 2001, less the amount of any fees payable by the non‑member spouse in respect of the payment split; or
 (c) if the payment split is a percentage payment split:
 (i) for an entitlement in respect of an interest in the growth phase—the amount in relation to the interest at the time when the new RSA is opened, determined in the way in which a court would determine an amount in accordance with regulation 28 and subregulation 31(2A) of the Family Law (Superannuation) Regulations 2001, multiplied by the percentage specified in the relevant superannuation agreement, flag lifting agreement or splitting order, less the amount of any fees payable by the non‑member spouse in respect of the payment split; or
 (ii) for an entitlement in respect of any other interest—the amount in relation to the interest at the time when the new RSA is opened, determined in the way in which a court would determine an amount in accordance with the relevant method in Part 5 of the Family Law (Superannuation) Regulations 2001, multiplied by the percentage specified in the relevant superannuation agreement, flag lifting agreement or splitting order, less the amount of any fees payable by the non‑member spouse in respect of the payment split.
 (4) The value of the benefits in the non‑member spouse interest must not be more than the value of the withdrawal benefit in relation to the member spouse and the original interest immediately before the non‑member spouse interest is opened.
 (5) The value of the benefits that the member spouse has in his or her interest must be reduced by:
 (a) the value of the benefits in the non‑member spouse interest; and
 (b) the amount of any fees payable by the non‑member spouse in respect of the payment split.
 (6) In opening the new RSA for the non‑member spouse:
 (a) a proportion must be taken from the unrestricted non‑preserved benefits, the restricted non‑preserved benefits and the preserved benefits of the member spouse; and
 (b) the proportion taken from each category of benefits must be the same as the proportion that the category bears to the member spouse's interest immediately before the payment split.
 (6A) The benefits in the non‑member spouse interest are:
 (a) if the original interest is in the growth phase—unrestricted non‑preserved benefits, restricted non‑preserved benefits or preserved benefits in accordance with the character that they had in the member spouse's interest; and
 (b) if the original interest is an allocated pension, market linked pension or account based