Document ID: chunk:federal_register_of_legislation:F2024C01224:front:0:p81
Version: federal_register_of_legislation:F2024C01224
Segment Type: other
Provision Reference: 
Character Range: 205079–207758

under regulation 2.18C—the end of the last completed reporting period; or
 (ii) in any other case—the operative time.

Division 4A.4—Splittable payments—payment standards for non‑member spouse entitlements

4A.25  Application of Division 4A.4
 (1) This Division applies if:
 (a) an RSA interest (the original interest) is subject to a payment split; and
 (b) the non‑member spouse is entitled to be paid an amount from the original interest because a splittable payment in respect of the interest has become payable; and
 (c) a new RSA has not been opened for the non‑member spouse, or the transferable benefits of the non‑member spouse have not been transferred or rolled out of the fund, as a result of a payment split.
 (2) However, if an amount under the Act would be a superannuation death benefit within the meaning of the 1997 Tax Act if it were paid to the non‑member spouse, a requirement in this Division:
 (a) to pay the amount; or
 (b) to roll over or transfer the amount to another regulated superannuation fund, an RSA, an approved deposit fund or an EPSSS, to be held for the benefit of the non‑member spouse; or
 (c) to allocate the amount to an interest that the trustee creates for the non‑member spouse in the regulated superannuation fund or approved deposit fund;
is taken to be a requirement to pay the amount to the non‑member spouse in cash.

4A.27  Preservation of non‑member spouse entitlements
 (1) This regulation applies if:
 (a) the non‑member spouse has not satisfied a relevant condition of release at the time of the splittable payment; and
 (b) the splittable payment does not derive from an allocated pension, market linked pension or account based pension.
 (2) The RSA provider of the RSA in which the original interest is held must:
 (a) if the RSA provider has received an eligible application from the non‑member spouse to open a new RSA, and the RSA provider is otherwise permitted to open a new RSA for the non‑member spouse—open a new RSA in the non‑member spouse's name and transfer the amount to the new RSA; or
 (b) roll over or transfer the amount to an RSA provided by another RSA provider, or to a regulated superannuation fund, an approved deposit fund or an EPSSS, to be held for the benefit of the non‑member spouse.
 (3) The RSA provider must preserve the amount mentioned in subregulation (2).
 (4) The RSA provider must roll over or transfer the lump sum within:
 (a) 30 days after the splittable payment becomes payable; or
 (b) any longer period allowed by the Regulator.
 (5) Subject to subregulation (6), the amount must not be allocated, rolled over or transferred unless the transferor RSA provider:
 (a) has received,