Document ID: chunk:federal_register_of_legislation:F2025L00281:clause:1_98:p23
Version: federal_register_of_legislation:F2025L00281
Segment Type: clause
Provision Reference: sch 1 cl 98 (pt 23/26)
Character Range: 1674741–1677449

after the date when the benefit was preserved under Division 3D of Part 4 of the NSW Superannuation Act; and
 (ii) in respect of the entitlement of only one spouse of the person, being an entitlement arising under a particular superannuation agreement, flag lifting agreement or splitting order that applies in respect of the interest;
  the factor calculated in accordance with the formula set out in subclause (2); or
 (c) if the requirements of Part 3 of the Regulations have been satisfied:
 (i) before the date when the benefit was preserved under Division 3D of Part 4 of the NSW Superannuation Act; and
 (ii) in respect of the entitlement of only one spouse of the person, being an entitlement arising under a particular superannuation agreement, flag lifting agreement or splitting order that applies in respect of the interest;
  the factor calculated in accordance with the formula set out in subclause (3); or
 (d) if the requirements of Part 3 of the Regulations have been satisfied in relation to the entitlements of 2 or more spouses of the person, being entitlements each arising under a particular superannuation agreement, flag lifting agreement or splitting order that applies to the interest — the product of the factors calculated in accordance with whichever of paragraphs (b) or (c) is applicable, in respect of each entitlement.
 (2) For paragraph (1) (b), the factor is calculated in accordance with the formula:
1 – NMProp
where:
NMProp is the quotient of:
 (a) the value of the spouse's entitlement under the agreement or order immediately before the time when the requirements of Part 3 of the Regulations were satisfied; and
 (b) the gross value of the person's interest, immediately before those requirements were satisfied, determined in accordance with the method set out in clause 18.
 (3) For paragraph (1) (c), the factor is calculated in accordance with the formula:
1 – NMProp  ESProp
where:
NMProp is the quotient of:
 (a) the value of the spouse's entitlement under the agreement or order immediately before the requirements of Part 3 of the Regulations were satisfied; and
 (b) the gross value of the person's interest, immediately before those requirements were satisfied, determined in accordance with the method set out in clause 2.
ESProp is calculated in accordance with the formula:
  where:
  CDs is the total number of days of the person's service as at the date when the requirements of Part 3 of the Regulations were satisfied.
  Bs is the number of days of the person's service in the period commencing on 1 July 1988 and ending on the date when the requirements of Part 3 of the Regulations were satisfied.
  EFPs has the meaning given by subclause 23 (1).