Document ID: chunk:federal_register_of_legislation:F2025L00178:reg:84:p2
Version: federal_register_of_legislation:F2025L00178
Segment Type: reg
Provision Reference: reg 84 (pt 2/2)
Character Range: 192558–194910

of the superannuation interest is:
 (a) an amount equal to the minimum lump sum; and
 (b) an amount, calculated under subsection (4), from:
 (i) if the member's lump sum exceeds the minimum lump sum—the amount of the excess; and
 (ii) each other splittable payment that becomes payable in respect of the superannuation interest.
 (4) For the purposes of paragraph (3)(b), the amount is equal to:
where:
adjusted base amount means the amount of the adjusted base amount applicable to the non‑member spouse for the interest at the date the first splittable payment became payable in respect of the superannuation interest.
proportion means the proportion of the adjusted base amount that the non‑member spouse has requested under paragraph (1)(c) to be paid, as a lump sum, to the non‑member spouse.
splittable payment amount means:
 (a) if under subparagraph (3)(b)(i) the member's lump sum exceeds the minimum lump sum—the amount of the excess; or
 (b) the amount of the other splittable payment (see subparagraph (3)(b)(ii)).
transition factor means:
 (a) if under section 62 or 70 the Minister has approved one or more methods or factors to be used to determine the gross value of the superannuation interest—the factor approved under, or determined using a method approved under, section 79 for the superannuation interest and this subsection; or
 (b) if paragraph (a) does not apply and one or more benefits in respect of the superannuation interest are payable:
 (i) as a pension for the life of the member spouse; but
 (ii) not due to the member spouse's invalidity;
  the factor determined using the method set out in Schedule 11 for the superannuation interest; or
 (c) if neither paragraph (a) nor (b) applies—1.
deemed value of the interest were it in payment phase at adjusted date means the amount that would be calculated under section 64 for the superannuation interest if references in Division 2 of Part 6 to the relevant date were references to the date the first splittable payment became payable in respect of the superannuation interest.
initial lump sum means the amount of the lump sum paid to the non‑member spouse under paragraph (3)(a).
Note: For the meanings of commutation factor and pension valuation factor, see section 72.

Subdivision D—No benefit payable only as a lump sum, or first splittable payment is not a lump sum