Commonwealth Consolidated Acts

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Operative time for payment split

             (1)  The operative time for a payment split under a superannuation agreement or flag lifting agreement is the beginning of the fourth business day after the day on which a copy of the agreement is served on the trustee, accompanied by:

                     (a)  if the parties are divorced--a copy of the divorce order that has terminated the marriage; and

                    (aa)  if, in the case of a payment split under a superannuation agreement:

                              (i)  the parties are not divorced; and

                             (ii)  a separation declaration is not part of the superannuation agreement;

                            a separation declaration; and

                     (b)  if the agreement specifies a method for calculating a base amount--a document setting out the amount calculated using that method; and

                     (c)  if a form of declaration is prescribed for the purposes of this paragraph--a declaration in that form.

Note:          The base amount is used to calculate the entitlement of the non-member spouse under the regulations.

             (2)  For the purposes of subsection (1), the separation declaration must have a declaration time that is not more than 28 days before the service on the trustee.

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