Document ID: chunk:federal_register_of_legislation:F2023C01022:reg:57
Version: federal_register_of_legislation:F2023C01022
Segment Type: reg
Provision Reference: reg 57
Character Range: 161247–163099

57  Amount to be paid to non‑member spouse—first splittable payment after operative time less than base amount
 (1) This regulation applies in relation to the superannuation interest if:
 (a) the first splittable payment that becomes payable in respect of the interest after the operative time is not a payment in respect of an allocated pension or a market linked pension; and
 (b) the amount of that payment is less than the amount of the base amount allocated to the non‑member spouse in relation to the interest.
 (2) The amount that the non‑member spouse is entitled to be paid in respect of the superannuation interest is:
 (a) the amount of the first splittable payment; and
 (b) unless regulation 58 applies in relation to the interest, the amount, calculated in accordance with subregulation (3), from each other splittable payment that becomes payable in respect of the interest.
 (3) For paragraph (2)(b), the amount to be paid to the non‑member spouse from each other splittable payment that becomes payable in respect of the superannuation interest is calculated in accordance with the following formula:

  where:
BA is the base amount allocated to the non‑member spouse in relation to the superannuation interest.
X is the amount of the first splittable payment paid to the non‑member spouse under paragraph (2)(a).
SP is the amount of the relevant splittable payment.
A is the amount in relation to the superannuation interest at the date when the first splittable payment became payable in respect of the superannuation interest after the operative time, determined in accordance with the relevant method set out in Division 5.2, as if references in that Division to 'the relevant date' were references to 'the date when the first splittable payment became payable in respect of the superannuation interest after the operative time'.