Document ID: chunk:federal_register_of_legislation:F2025L00281:clause:1_98:p13
Version: federal_register_of_legislation:F2025L00281
Segment Type: clause
Provision Reference: sch 1 cl 98 (pt 13/26)
Character Range: 1652074–1654759

or
 (B) the person elected to take the benefit of Division 3A of Part 4 of the NSW Superannuation Act; or
 (C) subsection 52IA (1) of the NSW Superannuation Act first applied to the person; or
 (D) the person elected, under paragraph 52N (1) (b) of the NSW Superannuation Act, to preserve a benefit provided for by Division 3A of Part 4 of that Act; or
 (E) the person was taken, under subclause 2 (1) of Schedule 23 to the NSW Superannuation Act, to have elected to take the benefit of Division 3A of Part 4 of that Act; and
 (ii) 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 factor calculated in accordance with the formula set out in subclause (2); or
 (c) if the requirements of Part 3 of the Regulations have been satisfied:
 (i) before any of the dates mentioned in sub‑subparagraph (b) (i) (A) to (E); and
 (ii) 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 factor calculated in accordance with the formula set out in subclause (3); or
 (d) if the requirements of Part 3 of the Regulations have been satisfied in relation to the entitlements of 2 or more spouses of the person, being entitlements each arising under a particular superannuation agreement, flag lifting agreement or splitting order that applies to the interest — the product of the factors calculated in accordance with whichever of paragraphs (b) and (c) is applicable, in respect of each entitlement.
 (2) For paragraph (1) (b), the factor is calculated in accordance with the formula:
1 – NMProp
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 clause 11.
 (3) For paragraph (1) (c), the factor is calculated in accordance with the formula:
1 – NMProp  ESProp
where:
NMProp is the quotient of:
 (a) the value of the spouse's entitlement under the agreement or order immediately before 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 clause 2.
ESProp is calculated in