Document ID: chunk:federal_register_of_legislation:F2025C00069:reg:3:p10
Version: federal_register_of_legislation:F2025C00069
Segment Type: reg
Provision Reference: reg 3 (pt 10/71)
Character Range: 418045–420722

it is not reasonably practicable to comply with subparagraph (i)—within a longer period that is reasonable in the circumstances; and
 (b) having regard to the present and prospective liabilities of the fund to its members.

Part 7A—Superannuation interests subject to payment split

Division 7A.1—General

7A.01  Purpose of Part 7A
  The purpose of this Part is:
 (a) to facilitate the payment splitting arrangements established under Parts VIIIB and VIIIC of the Family Law Act 1975; and
 (b) to provide for additional options that may be exercised in relation to superannuation interests that are subject to a payment split under that Act.

7A.01A  Relevant condition of release
  In this Part:
 (a) relevant condition of release means a condition of release mentioned in item 101, 102, 103, 106, 201, 202, 203 or 206 of Schedule 1; and
 (b) a non‑member spouse satisfies a relevant condition of release if the event specified in the condition has occurred in relation to the non‑member spouse; and
 (c) in the application of item 101, 103, 201 or 203 of Schedule 1 to a non‑member spouse, a reference to a member in:
 (i) the definition of permanent incapacity in subregulation 6.01(2); or
 (ii) the definition of retirement in subregulations 6.01(2) and (7);
  is taken to be a reference to the non‑member spouse.

7A.02  Operating standards
  For subsections 31(1) and 32(1) of the Act, the standards set out in this Part are applicable to the operation of regulated superannuation funds and approved deposit funds.

7A.03  Trustee to give payment split notice
 (1) If an interest in a regulated superannuation fund or an approved deposit fund becomes subject to a payment split, the trustee of the fund must notify the member spouse and the non‑member spouse in relation to the interest that the interest is subject to a payment split.
 (2) The notice must:
 (a) be in writing; and
 (b) state the date on which it is given.
 (3) The notice must be given:
 (a) for a payment split under a superannuation agreement or flag lifting agreement—within 28 days after the operative time for the payment split; and
 (b) for a payment split under a splitting order—by the later of:
 (i) the end of 28 days after the operative time for the payment split; and
 (ii) the end of 28 days after the trustee receives a copy of the order.
 (4) Despite subregulation (1), the trustee is not required to give a payment split notice in respect of an interest if the interest ceases to be subject to a payment split:
 (a) before the end of the period applying under subregulation (3); and
 (b) for a reason other than the creation of a non‑member spouse interest under regulation 7A.03B.
Note: