Document ID: chunk:federal_register_of_legislation:F2024C01224:front:0:p67
Version: federal_register_of_legislation:F2024C01224
Segment Type: other
Provision Reference: 
Character Range: 170645–173312

an RSA interest if the interest ceases to be subject to the 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 4A.05.
Note: A non‑member spouse may also be entitled to information under section 1017C of the Corporations Act 2001 and Division 2.3A.

Division 4A.2—Options available for interests

4A.04  Application of Division 4A.2
 (1) This Division applies in relation to an RSA interest (the original interest) if:
 (a) the original interest is subject to a payment split; and
 (b) an allocated pension, market linked pension or account based pension is being paid in respect of the original interest; and
 (c) the RSA provider has not received a request under regulation 4A.16, 4A.17 or 4A.18 or taken an action under regulation 4A.21 in relation to the original interest.
 (2) This Division also applies in relation to an RSA interest (the original interest) if:
 (a) the original interest is subject to a payment split; and
 (b) the original interest is an accumulation interest in the growth phase; and
 (c) the RSA provider has not received a request under regulation 4A.16, 4A.17 or 4A.18 or taken an action under regulation 4A.21 in relation to the original interest.
 (3) This Division does not apply to an RSA interest that is determined by reference to a policy of life insurance mentioned in regulation 3.11.

4A.05  RSA provider may open a new RSA
 (1) The RSA provider may, at or after the operative time for the payment split, open a new RSA (the non‑member spouse interest) for the non‑member spouse in the non‑member spouse's name.
 (2) If the RSA provider creates a non‑member spouse interest under subregulation (1), the person known as the non‑member spouse at the operative time will continue to be a non‑member spouse for the purposes of Part 4A until the RSA provider takes an action under regulation 4A.11, 4A.12, 4A.13 or 4A.14.
 (3) Subject to subregulation (4), the value of the benefits that the non‑member spouse has in the new RSA must be:
 (a) if the payment split is a base amount payment split and an adjusted base amount applies to the non‑member spouse when the new RSA is opened—the adjusted base amount less the amount of any fees payable by the non‑member spouse in respect of the payment split; or
 (b) if the payment split is a base amount payment split and an adjusted base amount does not apply to the non‑member spouse when the new RSA is opened—the base amount allocated to the non‑member spouse, within the meaning of regulation 45 of the Family Law (Superannuation) Regulations 2001, less the