Document ID: chunk:federal_register_of_legislation:C2004C01250:clause:1_140ua
Version: federal_register_of_legislation:C2004C01250
Segment Type: clause
Provision Reference: sch 1 cl 140UA
Character Range: 12901–14189

140UA  Commutation of pension under payment split

 (1) If:
 (a) a payer commences or has commenced to make payments of a superannuation pension to a person (the first person) in respect of an interest that a person has as a member of a superannuation fund; and
 (b) there is a commutation or partial commutation of the pension at a time when a payment split applies in relation to that interest;
then:
 (c) if an ETP is made in relation to the first person, or in relation to the non‑member spouse in relation to that interest, as a result of the commutation or partial commutation of the pension—subsections 140R(1) and 140T(1) apply in relation to that ETP and subsections 140R(1A) and 140T(2B) do not apply; and
 (d) if a residual pension is payable to the first person, or to the non‑member spouse in relation to that interest, on the commutation or partial commutation of the pension—subsections 140R(1) and 140T(1) apply in relation to that residual pension and subsections 140R(1B) and 140T(2C) do not apply.

 (2) If:
 (a) paragraph (1)(c) or (d) applies in relation to the non‑member spouse; and
 (b) paragraph 140ZC(2)(b) or (c) would otherwise apply in relation to the ETP or residual pension concerned;
then paragraph 140ZC(2)(b) or (c), as the case may be, does not apply.