Document ID: chunk:federal_register_of_legislation:C2005A00078:clause:7_14
Version: federal_register_of_legislation:C2005A00078
Segment Type: clause
Provision Reference: sch 7 cl 14
Character Range: 39008–40038

14  After subsection 27ACB(1)
Insert:

 (1A) If, in respect of an eligible annuity (the original interest) that a person (the first person) has, either of the following apply at a particular time (the relevant time):
 (a) an annuity (within the meaning of subsection 27A(1) of this Act) is created for the non‑member spouse in circumstances prescribed by the regulations;
 (b) an amount is transferred to a superannuation fund, in circumstances prescribed by the regulations, for the benefit of the non‑member spouse;
then:
 (c) there is taken to be an ETP made in relation to the non‑member spouse of an amount (the new ETP amount) equal to the value of the annuity created for the non‑member spouse or to the amount transferred (as the case may be); and
 (d) there is taken to be an ETP made in relation to the first person of an amount (the remaining ETP amount) equal to the value of the original interest immediately before the relevant time less the new ETP amount; and
 (e) there is taken to be a roll‑over of those ETPs.