Document ID: chunk:federal_register_of_legislation:C2004A04205:body:0:p25
Version: federal_register_of_legislation:C2004A04205
Segment Type: other
Provision Reference: 
Character Range: 62902–65587

child or eligible children or a partially dependent child or partially dependent children; and

         (b)     because of the child or children not being in the custody, care and control of the spouse, or for any other reason that the Commissioner thinks proper, the Commissioner is of the opinion that payment of that part, or a portion of that part, of the lump sum benefit should be made to a person other than the spouse;

     the Commissioner may authorise payment of that part, or a portion of the part, to be made to the other person, and payment must be made to the other person accordingly.";

    (b) by omitting subsection (2) and substituting the following subsection:

     "(2) A payment of the part, and a payment of a portion of the part, of an instalment of pension or of a lump sum benefit that, under this section, is paid to a person other than the child to which that part or portion is attributable, must be applied for the maintenance, education or other benefit of the child.".

Payment of orphan benefit

41. Section 115 of the Principal Act is amended by omitting from subsection (4) the definition of "orphan benefit" and substituting the following definition:

" 'orphan benefit' means:

    (a)     orphan pension or a lump sum benefit payable under Division 4 of Part VI; or

  (b)     a lump sum benefit payable under section 110tf.".

Transfer value payable in respect of previous employment

42. Section 127 of the Principal Act is amended by inserting after subsection (1) the following subsections:

"(1aa) For the purposes of subsection (1), an amount that is a productivity related benefit within the meaning of Part VIa is not to be treated as a transfer value if the productivity related benefit would be the whole of the transfer value.

"(1ab) If a transfer value, after becoming payable to or in respect of a person under a superannuation scheme, was paid into a preservation fund, the amount of the transfer value is taken, for the purposes of this Division, to be the sum of the amount of the transfer value and the amount of any interest accruing on that amount while paid into the preservation fund.".

Payment of transfer values to Commissioner

  43. Section 128 of the Principal Act is amended:

    (a) by adding at the end of subsection (2) the following word and paragraph:

             "; and (c) so much of the transferred amount as is equal to the sum of:

                 (i) the amount of any productivity related benefit within the meaning of Part VIa and interest on that amount; and

                  (ii) the amount of the person's accumulated employer contributions (if any) included in a transfer value (if any) that