Document ID: chunk:federal_register_of_legislation:C2004A01292:clause:1_5a
Version: federal_register_of_legislation:C2004A01292
Segment Type: clause
Provision Reference: sch 1 cl 5A
Character Range: 67058–68467

5A  Amendments of Trust Deed to implement family law interest splitting

 (1) Without limiting subsection 5(1), amendments under that subsection:
 (a) may provide that, when a splitting agreement or splitting order is received by the Board in respect of a superannuation interest under this Act:
 (i) the non‑member spouse is entitled to benefits determined in accordance with the Rules; and
 (ii) the benefits of the member spouse are reduced in accordance with the Rules; and
 (b) may make any other provision that is related to, or consequential on, provisions referred to in paragraph (a).

 (2) Subsection 48(2) of the Acts Interpretation Act 1901 does not apply to amendments referred to in subsection (1) of this section.

 (3) In this section:

member spouse has the same meaning as in Part VIIIB of the Family Law Act 1975.

non‑member spouse has the same meaning as in Part VIIIB of the Family Law Act 1975.

splitting agreement means:
 (a) a superannuation agreement (within the meaning of Part VIIIB of the Family Law Act 1975); or
 (b) a flag lifting agreement (within the meaning of Part VIIIB of the Family Law Act 1975) that provides for a payment split (within the meaning of Part VIIIB of the Family Law Act 1975).

splitting order has the same meaning as in Part VIIIB of the Family Law Act 1975.

superannuation interest has the same meaning as in Part VIIIB of the Family Law Act 1975.