Document ID: chunk:federal_register_of_legislation:F2025L00178:reg:31:p2
Version: federal_register_of_legislation:F2025L00178
Segment Type: reg
Provision Reference: reg 31 (pt 2/2)
Character Range: 94220–96454

the non‑member spouse if the trustee has entered into an agreement with the non‑member spouse to provide such an annuity for the non‑member spouse's benefit; and
 (b) the new deferred annuity is taken to have been established on the date that agreement is entered into.

Trustee establishes new annuity, that is a non‑commutable income stream, with a value equal to the non‑member spouse's entitlement
 (5) This section applies for the superannuation interest if:
 (a) the trustee of the superannuation annuity has, in respect of the non‑member spouse's entitlement under the agreement or order, established a new annuity for the benefit of the non‑member spouse that:
 (i) is a non‑commutable income stream (within the meaning of the SIS Regulations); and
 (ii) has a value equal to the value of the non‑member spouse's entitlement for the superannuation interest at the time the new annuity is established; and
 (b) the interest is in the growth phase at the time the new annuity is established.
 (6) For the purposes of (but without limiting) subsection (5):
 (a) the trustee of the superannuation annuity is taken to have established a new annuity (being an annuity that is a non‑commutable income stream) for the benefit of the non‑member spouse if:
 (i) the trustee has entered into an agreement with the non‑member spouse to provide such an annuity for the non‑member spouse's benefit; or
 (ii) the trustee has paid to another annuity provider an amount equal to the value of the non‑member spouse's entitlement for the superannuation interest at the time the payment is made, for the purpose of that annuity provider providing such an annuity for the non‑member spouse's benefit; and
 (b) the new annuity is taken to have been established:
 (i) if subparagraph (a)(i) applies—on the date the agreement between the trustee and the non‑member spouse is entered into; or
 (ii) if subparagraph (a)(ii) applies—on the date the amount mentioned in that subparagraph is paid to the annuity provider by the trustee.

Trustee need not have done anything mentioned in this section
 (7) To avoid doubt, nothing in a subsection of this section requires the trustee of a superannuation annuity to do something mentioned in that subsection.