Document ID: chunk:federal_register_of_legislation:F2023C01022:reg:14q:p2
Version: federal_register_of_legislation:F2023C01022
Segment Type: reg
Provision Reference: reg 14Q (pt 2/3)
Character Range: 84944–87716

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 have established a new annuity for the benefit of the non‑member spouse if either of the following things have occurred:
 (i) the trustee has entered into an agreement with the non‑member spouse to provide, for his or her benefit, an annuity that is a type of annuity mentioned in subparagraph (5)(a)(i), (ii), (iii) or (iv);
 (ii) the trustee has paid to another annuity provider an amount equal to the value of the non‑member spouse's entitlement in respect of the superannuation interest at the time the payment is made, for the purpose of that annuity provider providing, for the benefit of the non‑member spouse, an annuity that is a type of annuity mentioned in subparagraph (5)(a)(i), (ii), (iii) or (iv); and
 (b) the new annuity is taken to have been established:
 (i) if subparagraph (a)(i) applies—on the date on which the agreement between the trustee and the non‑member spouse is entered into; or
 (ii) if subparagraph (a)(ii) applies—on the date on which the amount mentioned in subparagraph (a)(ii) is paid to the annuity provider by the trustee.
 (7) For this regulation, the value in respect of non‑member spouse's entitlement in respect of a superannuation interest at the time (the termination time) when the trustee carries out an action described in any of subregulations (3) to (5) is:
 (a) if the superannuation interest is in a superannuation annuity that is an allocated annuity—the account balance of the allocated annuity at the termination time, multiplied by the specified percentage, less the amount of any fees payable by the non‑member spouse under regulation 59; or
 (b) if the superannuation interest is in a superannuation annuity that is a market linked annuity—the account balance of the market linked annuity at the termination time, multiplied by the specified percentage, less the amount of any fees payable by the non‑member spouse under regulation 59; or
 (c) if the superannuation interest is in a superannuation annuity that is a lifetime annuity—the value of the interest at the termination time calculated in accordance with Schedule 4A, multiplied by the specified percentage, less the amount of any fees payable by the non‑member spouse under regulation 59; or
 (d) if the superannuation interest is in a superannuation annuity that is a fixed term annuity—the value of the interest at the termination time calculated in accordance with Schedule 5A, multiplied by the specified percentage, less the amount of any fees payable by the non‑member spouse under regulation 59.
 (8) For the avoidance