Document ID: chunk:federal_register_of_legislation:C2024C00866:section:5jb:p5
Version: federal_register_of_legislation:C2024C00866
Segment Type: section
Provision Reference: s 5JB (pt 5/6)
Character Range: 136405–139050

of paragraph (2C)(c), the period is the greater of:
 (a) the greater of what would be the life expectancies (rounded up, if not consisting of a whole number of years, to the next whole number), on the commencement day, of:
 (i) the primary beneficiary, if the primary beneficiary were 5 years younger; and
 (ii) the primary beneficiary's reversionary partner on that day, if the partner were 5 years younger; and
 (b) the greater of:
 (i) the period (rounded up, if not consisting of a whole number of years, to the next whole number) starting on the commencement day and ending on the day on which the primary beneficiary reaches age 100 (assuming that the primary beneficiary lives until then); and
 (ii) the period (rounded up, if not consisting of a whole number of years, to the next whole number) starting on the commencement day and ending on the day on which the primary beneficiary's reversionary partner on the commencement day reaches age 100 (assuming that the partner lives until then).
 (2E) If, on an income stream's commencement day, there are 2 primary beneficiaries (the first primary beneficiary and the second primary beneficiary), the income stream's term complies with this subsection if it is a period of whole years that:
 (a) starts on the income stream's commencement day; and
 (b) is at least as long as the lesser of the life expectancies (rounded up, if not consisting of a whole number of years, to the next whole number), on the commencement day, of:
 (i) the first primary beneficiary; and
 (ii) the second primary beneficiary; and
 (c) is at most as long as the period worked out under subsection (2F).
 (2F) For the purposes of paragraph (2E)(c), the period is the greater of:
 (a) the greater of what would be the life expectancies (rounded up, if not consisting of a whole number of years, to the next whole number), on the commencement day, of:
 (i) the first primary beneficiary, if the first primary beneficiary were 5 years younger; and
 (ii) the second primary beneficiary, if the second primary beneficiary were 5 years younger; and
 (b) the greater of:
 (i) the period (rounded up, if not consisting of a whole number of years, to the next whole number) starting on the commencement day and ending on the day on which the first primary beneficiary reaches age 100 (assuming that the first primary beneficiary lives until then); and
 (ii) the period (rounded up, if not consisting of a whole number of years, to the next whole number) starting on the commencement day and ending on the day on which the second primary beneficiary reaches age 100 (assuming that the second primary beneficiary lives until