Document ID: chunk:federal_register_of_legislation:F2025C00069:reg:3:p9
Version: federal_register_of_legislation:F2025C00069
Segment Type: reg
Provision Reference: reg 3 (pt 9/52)
Character Range: 92276–94987

after 20 September 2004:
 (i) the annuity is paid at least annually to the primary beneficiary or to a reversionary beneficiary throughout a period equal to the primary beneficiary's life expectancy on the commencement day, rounded up to the next whole number if the primary beneficiary's life expectancy does not consist of a whole number of years; or
 (ii) the annuity is paid at least annually to the primary beneficiary or to a reversionary beneficiary throughout a period equal to the primary beneficiary's life expectancy mentioned in subparagraph (i) calculated, at the option of the primary beneficiary, as if the primary beneficiary were up to 5 years younger on the commencement day; or
 (iia) if the annuity has a commencement day on or after 1 January 2006—the annuity is paid at least annually to the primary beneficiary or reversionary beneficiary throughout a period that is not less than the period available under subparagraph 1.05(9)(b)(i), and not more than the greater of the following periods:
 (A) the maximum period available under subparagraph 1.05(9)(b)(ii);
 (B) the period of years equal to the number that is the difference between the age attained by the primary beneficiary at his or her most recent birthday before the commencement day, and 100; or
 (iii) if:
 (A) the annuity is an annuity that reverts to a surviving spouse on the death of the primary beneficiary; and
 (B) the life expectancy of the primary beneficiary's spouse is greater than the life expectancy of the primary beneficiary; and
 (C) the primary beneficiary has not chosen to make an arrangement mentioned in subparagraph (i), (ii) or (iia) for the annuity;
  the annuity is paid at least annually to the primary beneficiary or to a reversionary beneficiary throughout a period equal to:
 (D) the life expectancy of the spouse on the commencement day; or
 (E) the life expectancy of the spouse calculated, at the option of the primary beneficiary, as if the spouse were up to 5 years younger on the commencement day; or
 (F) if the annuity has a commencement day on or after 1 January 2006—a period that is not less than the period available under sub‑subparagraph 1.05(9)(b)(iii)(D), and not more than the greater of the following periods:
 (I) the maximum period available under sub‑subparagraph 1.05(9)(b)(iii)(E);
 (II) the period of years equal to the number that is the difference between the age attained by the spouse at his or her most recent birthday before the commencement day, and 100;
  at the option of the primary beneficiary, and rounded up to the next whole number if the life expectancy of the spouse, or the period, does not consist of a whole number of years; and
 (c) the total amount of