Document ID: chunk:federal_register_of_legislation:F2023C01022:reg:14g:p1
Version: federal_register_of_legislation:F2023C01022
Segment Type: reg
Provision Reference: reg 14G (pt 1/5)
Character Range: 57276–60070

14G  New interest created or amount transferred or rolled over or paid by trustee (other than under regulation 14F), or separate entitlement arising, in satisfaction of non‑member spouse's entitlement under agreement or order
 (1) This regulation applies to a superannuation interest (including an interest in respect of which benefits are payable as an allocated pension or a market linked pension) if the interest:
 (a) is not a percentage‑only interest; and
 (b) is in a superannuation fund or an approved deposit fund.
 (2) The requirements of this Division are satisfied in relation to a non‑member spouse's entitlement under a particular superannuation agreement, flag lifting agreement or splitting order in respect of a superannuation interest of a member spouse if the requirements of subregulation (3), (4), (5), (5A), (6) or (6A) are satisfied.
 (3) Subject to subregulation (7), the requirements of this subregulation are satisfied if:
 (a) the interest is not a defined benefit interest in a self managed superannuation fund; and
 (b) the trustee of the relevant eligible superannuation plan has, in respect of the non‑member spouse's entitlement under the agreement or order and under the governing rules of the plan, done either of the following things:
 (i) created a new interest in the plan for the non‑member spouse with a value of at least the value of the non‑member spouse's entitlement in respect of the superannuation interest at the time the new interest is created;
 (ii) transferred or rolled over to another superannuation fund or an RSA an amount, to be held for the benefit of the non‑member spouse, with a value of at least the value of the non‑member spouse's entitlement in respect of the superannuation interest at the time the amount is transferred or rolled over.
 (4) Subject to subregulation (7), the requirements of this subregulation are satisfied if:
 (a) the interest is a defined benefit interest in a self managed superannuation fund; and
 (b) the trustee of the plan has, in respect of the non‑member spouse's entitlement under the agreement or order and under the governing rules of the plan, transferred or rolled over to another superannuation fund or an RSA an amount, to be held for the benefit of the non‑member spouse, with a value of at least the value of the non‑member spouse's entitlement in respect of the superannuation interest at the time the amount is transferred or rolled over.
 (5) Subject to subregulation (7), the requirements of this subregulation are satisfied if:
 (a) the interest is in a regulated superannuation fund, an exempt public sector superannuation scheme or an approved deposit fund; and
 (b) the non‑member spouse has satisfied a relevant condition of release in relation to the interest; and
 (c) the trustee of