Document ID: chunk:federal_register_of_legislation:F2023C01022:reg:51:p2
Version: federal_register_of_legislation:F2023C01022
Segment Type: reg
Provision Reference: reg 51 (pt 2/4)
Character Range: 143393–146083

respect of the superannuation interest is payable to the member spouse—the date of the first splittable payment to the member spouse in respect of the superannuation after the operative time; or
 (b) if the relevant splittable payment in respect of the superannuation interest is payable to another person for the benefit of the member spouse—the earliest date when the pension could be commuted to a lump sum; or
 (c) if the relevant splittable payment in respect of the superannuation interest is payable to a reversionary beneficiary after the death of the member spouse—the date of the member spouse's death; or
 (d) if the relevant splittable payment in respect of the superannuation interest is payable to the legal personal representative of the member spouse after the death of the member spouse, or the legal personal representative of a reversionary beneficiary covered by paragraph 90XE(1)(d) or 90YD(1)(d) of the Act after the death of that reversionary beneficiary—the earliest date at which the legal personal representative could choose to take the remaining benefits in respect of the interest as a lump sum.
Py+m is the pension valuation factor that applies to the particular pension payable to the member spouse or other person at the date that applies under the definition of the factor Comm in this subregulation, being:
 (a) if, under regulation 43A, the Minister has approved a method or factors to be used to determine the gross value of a superannuation interest the benefits in respect of which are being paid as a pension that is payable for the life of the member spouse—the approved factor or the factor that applies under the approved method; or
 (b) in any other case—the pension valuation factor under Schedule 4 or 5.
 (4) If the non‑member spouse has requested to be paid, as a lump sum, a proportion of the remaining adjusted base amount applicable to the non‑member spouse at that time:
 (a) the member spouse or other person must choose to be paid, as a lump sum, an amount that is at least the amount calculated in accordance with subregulation (5) (the minimum lump sum); and
 (b) the non‑member spouse is entitled to be paid:
 (i) that amount; and
 (ii) the amount, calculated in accordance with subregulation (6), from:
 (A) if the member spouse or other person chooses to be paid, as a lump sum, an amount that is more than the minimum lump sum—the amount that is the difference between the actual lump sum paid and the minimum lump sum; and
 (B) each other splittable payment that becomes payable in respect of the superannuation interest.
 (5) For paragraph (4)(a), the amount of the minimum lump sum is calculated in accordance with the following