Document ID: chunk:federal_register_of_legislation:F2025L00178:reg:86:p2
Version: federal_register_of_legislation:F2025L00178
Segment Type: reg
Provision Reference: reg 86 (pt 2/2)
Character Range: 199572–201970

less than the adjusted base amount
 (5) If:
 (a) a splittable payment becomes payable in respect of the superannuation interest at a particular date; and
 (b) one part of the benefits for the interest is payable as an allocated pension and another part is payable as a market linked pension; and
 (c) the amount of the lump sum from which the allocated pension is payable falls short of the amount of the adjusted base amount applicable to the non‑member spouse for the interest at that date;
the non‑member spouse is entitled to be paid:
 (d) the amount of that lump sum; and
 (e) so much of the amount of the lump sum from which the market linked pension is payable as is needed to pay that shortfall.

Entitlement of non‑member spouse for any other splittable payments
 (6) The non‑member spouse is not entitled to be paid any amount from any other splittable payment in respect of the superannuation interest.
 (7) However, if the lump sum mentioned in subsection (2) or (3), or the total of the lump sums mentioned in paragraphs (5)(d) and (e), is less than the adjusted base amount applicable to the non‑member spouse for the interest at the date the splittable payment becomes payable, the non‑member spouse is entitled to be paid:
 (a) the amount of the lump sum, or lump sums, as applicable; and
 (b) from each other splittable payment that becomes payable in respect of the superannuation interest, the amount calculated under subsection (8).
 (8) For the purposes of paragraph (7)(b), the amount is equal to:
where:

adjusted base amount means the adjusted base amount applicable to the non‑member spouse for the interest at the date the first splittable payment becomes payable in respect of the superannuation interest.
initial lump sum(s) means the amount of the lump sum, or lump sums, paid to the non‑member spouse under paragraph (7)(a).
splittable payment amount means the amount of the relevant splittable payment.
deemed value of the interest were it in payment phase at adjusted date means the amount that would be calculated under section 64 for the superannuation interest if references in Division 2 of Part 6 to the relevant date were references to the date the first splittable payment became payable in respect of the superannuation interest.

Division 3—Superannuation interest in payment phase at date of service of agreement or date of order

Subdivision A—Preliminary