Document ID: chunk:federal_register_of_legislation:C2024C00859:clause:1_90ym
Version: federal_register_of_legislation:C2024C00859
Segment Type: clause
Provision Reference: sch 1 cl 90YM
Character Range: 764185–765136

90YM  Operative time for payment split
 (1) The operative time for a payment split under a superannuation agreement or flag lifting agreement is the beginning of the fourth business day after the day on which a copy of the agreement is served on the trustee, accompanied by:
 (a) for a payment split under a superannuation agreement if a separation declaration is not part of the superannuation agreement—a separation declaration; and
 (b) if the agreement specifies a method for calculating a base amount—a document setting out the amount calculated using that method; and
 (c) if a form of declaration is prescribed for the purposes of this paragraph—a declaration in that form.
Note: The base amount is used to calculate the entitlement of the non‑member spouse under the regulations.
 (2) For the purposes of subsection (1), the separation declaration must have a declaration time that is not more than 28 days before the service on the trustee.