Document ID: chunk:federal_register_of_legislation:F2024C01249:reg:4:p7
Version: federal_register_of_legislation:F2024C01249
Segment Type: reg
Provision Reference: reg 4 (pt 7/12)
Character Range: 1435634–1438450

member spouse, in relation to a superannuation interest that is subject to a payment split, means the person who is the member spouse within the meaning of Part VIIIB or VIIIC of the Family Law Act 1975 in relation to the interest.
non‑member spouse, in relation to a superannuation interest that is subject to a payment split, means the person who is the non‑member spouse within the meaning of Part VIIIB or VIIIC of the Family Law Act 1975 in relation to the interest.
payment split means a payment split within the meaning of Part VIIIB or VIIIC of the Family Law Act 1975.
payment split notice means a notice given by a product issuer under:
 (a) regulation 7A.03 of the SIS Regulations; or
 (b) regulation 4A.03 of the RSA Regulations.
percentage‑only interest means percentage‑only interest within the meaning of Part VIIIB or VIIIC of the Family Law Act 1975.
percentage payment split, in relation to a superannuation interest, means a payment split under a superannuation agreement, flag lifting agreement or splitting order that specifies a percentage that is to apply to all splittable payments in respect of the superannuation interest.
splitting order means a splitting order within the meaning of Part VIIIB or VIIIC of the Family Law Act 1975.
superannuation agreement means a superannuation agreement within the meaning of Part VIIIB or VIIIC of the Family Law Act 1975.
superannuation interest means a superannuation interest within the meaning of Part VIIIB or VIIIC of the Family Law Act 1975.

7.9.85  Application of Division 11
  This Division applies in relation to a superannuation interest.

7.9.86  Acquisition of financial product
  For paragraph 761E(7)(a) of the Act, if:
 (a) a person is a non‑member spouse; and
 (b) an entitlement to a benefit in relation to a superannuation interest under a payment split is first issued, granted or otherwise made available to that person;
the person is taken to have been issued with a superannuation product or an RSA as appropriate.

7.9.87  Modification of Act: Product Disclosure Statement in relation to superannuation interest under Family Law Act
 (1) Subject to subregulation (4), for paragraph 1020G(1)(c) of the Act, paragraph 1012F(b) of the Act is modified in its application in relation to:
 (a) a superannuation interest; and
 (b) the non‑member spouse who acquires the superannuation interest;
in accordance with subregulation (2).
 (2) Paragraph 1012F(b) is taken to require a regulated person to give the non‑member spouse a Product Disclosure Statement when the regulated person gives a payment split notice to the non‑member spouse.
 (3) If paragraph 1012F(b), as modified in accordance with subregulation (2), applies in relation to a superannuation interest, regulation 7.9.04 does not apply in relation to the interest and the