Document ID: chunk:federal_register_of_legislation:F2024C00847:clause:1_4
Version: federal_register_of_legislation:F2024C00847
Segment Type: clause
Provision Reference: sch 1 cl 4
Character Range: 3542–6598

4  Definitions

            Note: A number of expressions used in this instrument are defined in the Act, including the following:
                1.      assessment day;
                2.      asset-test exempt income stream;
                3.      asset-tested income stream (long term);
                4.      asset-tested income stream (lifetime);
                5.      commencement day;
                6.       deductible amount;
                7.      defined benefit income stream;
                8.      family law affected income stream;
                9.        income;
               10.        income stream;
            (ja)  military invalidity pension income stream;
                1.      original family law affected income stream;
                2.        primary FLA income stream;
                3.    purchase amount;
                4.      purchase price;
                5.      relevant number;
                6.      residual capital value;
                7.      reversionary partner;
                8.       secondary FLA income stream;
                9.       superannuation fund;
               10.        threshold day.

       (1) In this instrument:
      Act means the Veterans' Entitlements Act 1986.
      allocated pension has the meaning given by regulation 3 of the Family Law (Superannuation) Regulations 2001.
      asset value has the meaning given by regulation 3A.05 of the SIS Regulations.
      base amount allocated to the non-member spouse has the meaning given by regulation 45 of the Family Law (Superannuation) Regulations 2001.
      base amount payment split has the meaning given by subregulation 1.03(1) of the SIS Regulations.
      Commission has the same meaning as in section 5A of the Act.

      market linked pension has the meaning given by regulation 3 of the Family Law (Superannuation) Regulations 2001.
      percentage payment split has the meaning given by subregulation 1.03(1) of the SIS Regulations.
      SIS Regulations means the Superannuation Industry (Supervision) Regulations 1994.

      Note   The definitions of assessment day, purchase amount and threshold day adopt formula and calculation methods in sections 52BAA and 52BAB of the Act for the purpose of defining terms as they are used in this instrument. Sections 52BAA and 52BAB of the Act do not apply to family law affected income streams.

       (2) A term used in this instrument and in Part VIIIB or Part VIIIC of the Family Law Act 1975 has the same meaning in this instrument as it has in that Part.

      Note   See sections 90XD and 90YD of the Family Law Act 1975 for the meanings of the following terms under Part VIIIB and Part VIIIC, respectively of that Act:
         flag lifting agreement
         member spouse
         non-member spouse
         operative time
         payment split
         reversionary beneficiary
         RSA
         splittable payment
         splitting order
         superannuation agreement
         superannuation interest
         trustee.