Document ID: chunk:federal_register_of_legislation:F2024C01224:front:0:p66
Version: federal_register_of_legislation:F2024C01224
Segment Type: other
Provision Reference: 
Character Range: 168276–170871

4AA.02; or
 (b) it appears to the Commissioner that conduct has been, is being, or is proposed to be, engaged in by a trustee or an investment manager of the complying superannuation fund to which the roll over or transfer is to be made that is likely to adversely affect the values of the interests of beneficiaries of that fund.

Part 4A—RSA interests subject to payment split

Division 4A.1—General

4A.01  Purpose of Part 4A
  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 RSA interests that are subject to a payment split under that Act.

4A.01A  Relevant condition of release
  In this Part:
 (a) relevant condition of release means a condition of release mentioned in item 101, 102, 103 or 106 of Schedule 2; 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 or 103 of Schedule 2 to a non‑member spouse, a reference to an RSA holder in:
 (i) the definition of permanent incapacity in subregulation 4.01(2); or
 (ii) the definition of retirement in subregulation 4.01(4);
  is taken to be a reference to the non‑member spouse.

4A.02  Operating standards
  For subsection 38(1) of the Act, the standards set out in this Part are applicable to the operation of RSAs.

4A.03  RSA provider to give payment split notice
 (1) If an RSA interest becomes subject to a payment split, the RSA provider 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 RSA provider receives a copy of the order.
 (4) Despite subregulation (1), the RSA provider is not required to give a payment split notice in respect of 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