Document ID: chunk:federal_register_of_legislation:C2024C00859:clause:1_90yo
Version: federal_register_of_legislation:C2024C00859
Segment Type: clause
Provision Reference: sch 1 cl 90YO
Character Range: 767389–768138

90YO  Operative time for payment flag
 (1) The operative time for a payment flag under a superannuation agreement is:
 (a) the service time, if the eligible superannuation plan is a self‑managed superannuation fund; or
 (b) otherwise, the beginning of the fourth business day after the day on which the service time occurs.
 (2) In this section:
self‑managed superannuation fund has the same meaning as in the SIS Act.
service time means the time when a copy of the agreement is served on the trustee, accompanied by:
 (a) a separation declaration with a declaration time that is not more than 28 days before the service on the trustee; and
 (b) if a form of declaration is prescribed for the purposes of this paragraph—a declaration in that form.