Document ID: chunk:federal_register_of_legislation:F2025C00069:reg:3:p11
Version: federal_register_of_legislation:F2025C00069
Segment Type: reg
Provision Reference: reg 3 (pt 11/71)
Character Range: 420489–423282

if the interest ceases to be subject to a payment split:
 (a) before the end of the period applying under subregulation (3); and
 (b) for a reason other than the creation of a non‑member spouse interest under regulation 7A.03B.
Note: A non‑member spouse may also be entitled to information under section 1017C of the Corporations Act 2001, Division 2.5 and Division 2.5A.

Division 7A.1A—Options for trustee in relation to interests

7A.03A  Application of Division 7A.1A
 (1) This Division applies in relation to a superannuation interest (the original interest) in a regulated superannuation fund, if:
 (a) the original interest is subject to a payment split; and
 (b) an allocated pension, market linked pension or account‑based pension is being paid in respect of the original interest; and
 (c) the trustee:
 (i) has not received a request under regulation 7A.05, 7A.06 or 7A.07; and
 (ii) has not taken an action under regulation 7A.10 in relation to the original interest.
 (2) Subject to subregulation (3), this Division also applies in relation to a superannuation interest (the original interest) in a regulated superannuation fund, if:
 (a) the original interest is subject to a payment split; and
 (b) the original interest is an accumulation interest in the growth phase; and
 (c) the trustee:
 (i) has not received a request under regulation 7A.05, 7A.06 or 7A.07; and
 (ii) has not taken an action under regulation 7A.10 in relation to the original interest.
 (3) This Division does not apply to an accumulation interest:
 (a) if:
 (i) the interest is a partially vested accumulation interest; and
 (ii) the transferable benefits in relation to the accumulation interest would be greater than the withdrawal benefit in relation to the member spouse; or
 (b) if the interest is determined by reference to a traditional life insurance policy.

7A.03B  Trustee may create a new interest
 (1) The trustee may, at or after the operative time for the payment split, create a new interest for the non‑member spouse (the non‑member spouse interest) in the regulated superannuation fund.
 (2) If a trustee creates a non‑member spouse interest under subregulation (1), the person known as the non‑member spouse at the operative time will continue to be a non‑member spouse for the purposes of Part 7A until the trustee takes an action under regulation 7A.03H, 7A.03I, 7A.03J or 7A.03K.
 (3) Subject to subregulation (4), the value of the benefits in the non‑member spouse interest must be:
 (a) if:
 (i) the payment split is a base amount payment split; and
 (ii) an adjusted base amount applies in relation to the non‑member spouse when the interest is created;
  the adjusted base amount allocated to the non‑member spouse less the amount of any fees payable by the non‑member spouse in