Document ID: chunk:federal_register_of_legislation:F2024C01249:reg:4:p2
Version: federal_register_of_legislation:F2024C01249
Segment Type: reg
Provision Reference: reg 4 (pt 2/3)
Character Range: 84689–87357

a defined benefits superannuation scheme that was in existence when this regulation commenced;
 (c) a genuine superannuation contribution that is paid by an employer or employee on or after the commencement of this regulation;
 (d) genuine accrued benefits that are payable under a law within the meaning of section 200H of the Act;
 (e) a payment made under a requirement imposed by a law of another country;
 (f) a reasonable payment that is made:
 (i) in accordance with a policy of the company or body that applies to all employees; and
 (ii) as a result of a genuine redundancy; and
 (iii) having regard to the length of a person's service in an office or position;
 (g) a payment from a prescribed superannuation fund due to death or incapacity.
                     Example for paragraph (d): A payment of annual leave, long service leave or sick leave.
Note: Subsection 200AB(2) of the Act provides that a benefit does not include a thing specified in regulations. Things that are not specified in subregulation (2) may also not be benefits for the purposes of the Act.
 (3) In this regulation:
deferred bonus includes an amount, or property, that:
 (a) is earned by, accrued by or allocated to a person as remuneration in respect of a period of employment before the person's retirement; and
 (b) is not paid, provided or released to the person at the time at which it is earned, accrued or allocated.
prescribed superannuation fund has the meaning given by section 200B of the Act.

2D.2.03  When benefit given in connection with retirement from an office or a position
 (1) For subsection 200A(1A) of the Act, each of the following circumstances is specified in relation to a benefit:
 (a) circumstances in which the benefit is the automatic vesting of share‑based payments for a person on or as a result of retirement from an office or a position;
 (b) circumstances in which the benefit is the accelerated vesting of share‑based payments for a person on or as a result of retirement from an office or a position; and
 (c) circumstances in which the benefit is a payment made to a person in lieu of the giving of notice of termination.
Note: Subsection 200A(1A) of the Act provides that a benefit is given in connection with a person's retirement from an office or a position if the benefit is given in circumstances specified in regulations.
 (2) For paragraph 200F(1)(b) of the Act, a benefit requires shareholder approval:
 (a) if it:
 (i) is a deferred bonus under paragraph 2D.2.02(2)(a); and
 (ii) is subject to automatic or accelerated vesting under subregulation (1); and
 (iii) exceeds the payment limit set by section 200G of the Act; and
 (b) if