Document ID: chunk:federal_register_of_legislation:F2025L00178:reg:92:p2
Version: federal_register_of_legislation:F2025L00178
Segment Type: reg
Provision Reference: reg 92 (pt 2/3)
Character Range: 208724–211550

amount allocated to the non‑member spouse for the interest:
 (a) the member spouse must choose to be paid, as a lump sum, an amount (the member's lump sum) that is at least the amount calculated under subsection (5) (the minimum lump sum); and
 (b) the non‑member spouse is entitled to be paid an amount equal to the minimum lump sum; and
 (c) the non‑member spouse is also entitled to be paid an amount, calculated under subsection (6), from:
 (i) if the member's lump sum exceeds the minimum lump sum—the amount of the excess; and
 (ii) each other splittable payment that becomes payable in respect of the superannuation interest.
 (5) For the purposes of paragraph (4)(a), the minimum lump sum is:
where:
base amount means the base amount allocated to the non‑member spouse for the superannuation interest.
first splittable payment amount means the amount of the first splittable payment paid to the non‑member spouse under paragraph 91(2)(a).
proportion means the proportion of the remaining base amount allocated to the non‑member spouse for the interest that the non‑member spouse has requested under paragraph (1)(c) to be paid, as a lump sum, to the non‑member spouse.
Note: For the meanings of commutation factor and pension valuation factor, see section 72.
 (6) For the purposes of paragraph (4)(c), the amount is equal to:
where:
base amount means the base amount allocated to the non‑member spouse in relation to the superannuation interest.
first splittable payment amount means the amount of the first splittable payment paid to the non‑member spouse under paragraph 91(2)(a).
proportion means the proportion of the remaining base amount allocated to the non‑member spouse for the interest that the non‑member spouse has requested under paragraph (1)(c) to be paid, as a lump sum, to the non‑member spouse.
splittable payment amount means:
 (a) if under subparagraph (4)(c)(i) the member's lump sum exceeds the minimum lump sum—the amount of the excess; or
 (b) otherwise—the amount of the other splittable payment (see subparagraph (4)(c)(ii)).
remaining value of the superannuation interest means the remaining value of the superannuation interest after the payment of the lump sums to the non‑member spouse under paragraph 91(2)(a) and paragraph (4)(c) of this section, calculated under subsection (7) of this section.
 (7) For the purposes of subsection (6), the remaining value of the superannuation interest after the payment of the lump sums to the non‑member spouse under paragraph 91(2)(a) and paragraph (4)(c) of this section is:
where:
deemed value of the interest means the amount that would be calculated under section 64 for the superannuation interest if references in Division 2 of Part 6 to the relevant date were references to the date the first splittable payment became payable in respect of