Document ID: chunk:federal_register_of_legislation:C2005A00020:clause:5_90da
Version: federal_register_of_legislation:C2005A00020
Segment Type: clause
Provision Reference: sch 5 cl 90DA
Character Range: 64264–65625

90DA  Need for separation declaration for certain provisions of financial agreement to take effect

 (1) A financial agreement between 2 people, to the extent to which it deals with:
 (a) how, in the event of the breakdown of the marriage, all or any of the property or financial resources of either or both of them at the time when the agreement is made, or at a later time and before the termination of the marriage by divorce, is to be dealt with; or
 (b) the maintenance of either of them after the termination of the marriage by divorce;
is of no force or effect until a separation declaration is made.

 (2) A separation declaration is a written declaration that complies with subsections (3) and (4).

 (3) The declaration must be signed by at least one of the parties to the financial agreement.

 (4) The declaration must state that:
 (a) the parties have separated and are living separately and apart at the declaration time; and
 (b) in the opinion of the parties making the declaration, there is no reasonable likelihood of cohabitation being resumed.

 (5) In this section:

declaration time means the time when the declaration was signed by a party to the financial agreement (or last signed by a party to the agreement, if both parties to the agreement have signed).

separated has the same meaning as in section 48 (as affected by section 49).