14GNew interest created or amount transferred or rolled over or paid by trustee (other than under regulation 14F), or separate entitlement arising, in satisfaction of non‑member spouse’s entitlement under agreement or order

#### 14G New interest created or amount transferred or rolled over or paid by trustee (other than under regulation 14F), or separate entitlement arising, in satisfaction of non‑member spouse’s entitlement under agreement or order (1) This regulation applies to a superannuation interest (including an interest in respect of which benefits are payable as an allocated pension or a market linked pension) if the interest: (a) is not a percentage‑only interest; and (b) is in a superannuation fund or an approved deposit fund. (2) The requirements of this Division are satisfied in relation to a non‑member spouse’s entitlement under a particular superannuation agreement, flag lifting agreement or splitting order in respect of a superannuation interest of a member spouse if the requirements of subregulation (3), (4), (5), (5A), (6) or (6A) are satisfied. (3) Subject to subregulation (7), the requirements of this subregulation are satisfied if: (a) the interest is not a defined benefit interest in a self managed superannuation fund; and (b) the trustee of the relevant eligible superannuation plan has, in respect of the non‑member spouse’s entitlement under the agreement or order and under the governing rules of the plan, done either of the following things: (i) created a new interest in the plan for the non‑member spouse with a value of at least the value of the non‑member spouse’s entitlement in respect of the superannuation interest at the time the new interest is created; (ii) transferred or rolled over to another superannuation fund or an RSA an amount, to be held for the benefit of the non‑member spouse, with a value of at least the value of the non‑member spouse’s entitlement in respect of the superannuation interest at the time the amount is transferred or rolled over. (4) Subject to subregulation (7), the requirements of this subregulation are satisfied if: (a) the interest is a defined benefit interest in a self managed superannuation fund; and (b) the trustee of the plan has, in respect of the non‑member spouse’s entitlement under the agreement or order and under the governing rules of the plan, transferred or rolled over to another superannuation fund or an RSA an amount, to be held for the benefit of the non‑member spouse, with a value of at least the value of the non‑member spouse’s entitlement in respect of the superannuation interest at the time the amount is transferred or rolled over. (5) Subject to subregulation (7), the requirements of this subregulation are satisfied if: (a) the interest is in a regulated superannuation fund, an exempt public sector superannuation scheme or an approved deposit fund; and (b) the non‑member spouse has satisfied a relevant condition of release in relation to the interest; and (c) the trustee of the plan has, in respect of the non‑member spouse’s entitlement under the agreement or order, paid to the non‑member spouse an amount equal to the value of the non‑member spouse’s entitlement in respect of the superannuation interest at the time of the payment. (5A) Subject to subregulation (7), the requirements of this subregulation are satisfied if: (a) the interest is in a regulated superannuation fund, an exempt public sector superannuation scheme or an approved deposit fund; and (b) at the operative time in relation to the agreement or order, the member spouse was being paid a pension in respect of the interest; and (c) the trustee of the plan has, in respect of the non‑member spouse’s entitlement under the agreement or order, paid to the non‑member spouse an amount equal to the value of the non‑member spouse’s entitlement in respect of the superannuation interest at the time of the payment. (6) Subject to subregulation (7), the requirements of this subregulation are satisfied if: (a) the interest is in a superannuation fund that is not a regulated superannuation fund or an exempt public sector superannuation scheme; and (b) the trustee of the plan has, in respect of the non‑member spouse’s entitlement under the agreement or order, paid to the non‑member spouse an amount equal to the value of the non‑member spouse’s entitlement in respect of the superannuation interest at the time of the payment. (6A) Subject to subregulation (7A), the requirements of this subregulation are satisfied if: (a) the interest is in a public sector superannuation scheme (the original scheme); and (b) at or after the operative time in relation to the agreement or order, and under the governing rules of the original scheme or under the governing rules of another public sector superannuation scheme, a separate entitlement to benefits has arisen for the non‑member spouse in respect of the non‑member spouse’s entitlement under the agreement or order, being a separate entitlement with a value of at least the value of the non‑member spouse’s entitlement in respect of the superannuation interest at the time the separate entitlement arose. (7) Subregulations (3), (4), (5), (5A) and (6) do not apply if: (a) the superannuation interest is a defined benefit interest; and (b) the governing rules of the plan provide for the reduction of the benefit payable to any other member of the plan (other than the member spouse or a reversionary beneficiary of the member spouse) as a result of the creation of the new interest for the non‑member spouse, transfer or rollover of an amount to be held for the benefit of the non‑member spouse, or payment of the amount to the non‑member spouse. (7A) Subregulation (6A) does not apply if: (a) the superannuation interest is a defined benefit interest; and (b) the governing rules of the original scheme provide for the reduction of the benefit payable to any other member of the scheme (other than the member spouse or a reversionary beneficiary of the member spouse) as a result of the non‑member spouse’s separate entitlement. (8) For this regulation, the value in respect of a non‑member spouse’s entitlement in respect of a superannuation interest at the time (the termination time) when the trustee carries out an action described in any of subregulations (3) to (6), or a separate entitlement arises for the non‑member spouse as described in subregulation (6A), is: (a) if a base amount applies in relation to the interest—the value under subregulation (9) or (10); or (b) if, under subparagraph 90XJ(1)(c)(iii) or 90YN(1)(c)(iii), or paragraph 90XT(1)(b) or 90YY(1)(b), of the Act, a specified percentage is to apply to all splittable payments in respect of the interest—the value under subregulation (11). (9) For paragraph (8)(a), if: (a) the termination time occurs before the first payment that, except for the operation of this regulation, would be a splittable payment becomes payable in respect of the superannuation interest; or (b) paragraph (a) does not apply and one or more payments that, except for the operation of this regulation, would be splittable payments become payable in respect of the superannuation interest after the termination time, and the amount of the first such payment would be more than: (i) if an adjusted base amount is applicable to the non‑member spouse at the termination time—the sum of the adjusted base amount and the amount of any fees payable by the non‑member spouse under regulation 59; or (ii) in any other case—the sum of the base amount applicable to the non‑member spouse at the termination time and the amount of any fees payable by the non‑member spouse under regulation 59; the value at the termination time of the non‑member spouse’s entitlement in respect of the interest is, as the case requires: (c) the base amount specified by, or calculated in accordance with a method specified by, the relevant agreement or order; or (d) the base amount allocated to the non‑member spouse under subsection 90XT(4) or 90YY(5) of the Act; or (e) the adjusted base amount applicable to the non‑member spouse at the termination time. (10) For paragraph (8)(a), if paragraph (9)(a) or (b) does not apply in relation to the superannuation interest, the value at the termination time of the non‑member spouse’s entitlement in respect of the interest is:  where: > SP(prop) is the proportion of each second and subsequent splittable payment that the non‑member spouse would be entitled to be paid under Part 6. > V is: (a) for a superannuation interest in a self managed superannuation fund—the value of the interest at the termination time, determined by the method that the court would consider appropriate if it were determining the value of the interest under paragraph 90XT(2)(b) or 90YY(2)(b) (as the case may be) of the Act; and (b) for a superannuation interest other than an interest in a self managed superannuation fund—the value of the superannuation interest, being the amount in relation to the interest at the termination 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 termination time’. > F is the amount of any fees payable by the non‑member spouse under regulation 59. (11) For paragraph (8)(b), the value at the termination time of the non‑member spouse’s entitlement in respect of the superannuation interest is: (a) if the entitlement is in respect of an interest that is not an accumulation interest (other than a partially vested accumulation interest) or an interest in a self managed superannuation fund—the amount in relation to the interest at the termination time that a court would determine in accordance with Part 5, multiplied by the specified percentage, less the amount of any fees payable by the non‑member spouse under regulation 59; or (b) if the entitlement is in respect of an accumulation interest (other than a partially vested accumulation interest or an interest in a self managed superannuation fund)—the amount in relation to the interest at the termination time that a court would determine in accordance with regulation 28 and subregulation 31(2A), multiplied by the specified percentage, less the amount of any fees payable by the non‑member spouse under regulation 59; or (c) if the entitlement is in respect of an interest in a self managed superannuation fund—the value of the interest at the termination time, determined by the method that the court would consider appropriate if it were determining the value of the interest under paragraph 90XT(2)(b) or 90YY(2)(b) (as the case may be) of the Act, multiplied by the specified percentage, less the amount of any fees payable by the non‑member spouse under regulation 59. (12) For the avoidance of doubt, nothing in this regulation requires the trustee of an eligible superannuation plan mentioned in paragraph (1)(b) to do any of the things mentioned in subregulation (3), (4), (5), (5A) or (6).