51Amount to be paid to non‑member spouse—optional lump sum from remaining benefits

51 Amount to be paid to non‑member spouse—optional lump sum from remaining benefits

(1) This regulation applies in relation to the superannuation interest if: (a) the non‑member spouse is entitled to be paid the amount of a lump sum in respect of the interest under paragraph 50(2)(a); and (b) the member spouse or other person may, under the governing rules of the relevant eligible superannuation plan, choose (by way of a commutation of a pension payable to him or her, or otherwise) to take the whole, or a part, of the remaining benefits in respect of the interest as a lump sum; and (c) the non‑member spouse has served a request, in accordance with Form 2 in Schedule 1, on the trustee of the plan requesting that the non‑member spouse be paid, as a lump sum, the whole, or a proportion, of the remaining adjusted base amount applicable to the non‑member spouse at that time; and (d) any choice by the member spouse or other person to be paid the amount requested by the non‑member spouse will not cause the member spouse or other person to lose the right to take the remaining part of the benefits in respect of the interest as a pension. (2) If the non‑member spouse has requested to be paid, as a lump sum, the whole of the remaining adjusted base amount applicable to the non‑member spouse at that time: (a) the member spouse or other person must choose to be paid, as a lump sum, an amount that is at least the amount calculated in accordance with subregulation (3); and (b) the non‑member spouse is entitled to be paid that amount; and (c) the non‑member spouse is not entitled to be paid any amount from any other splittable payment in respect of the superannuation interest. (3) For paragraph (2)(a), the amount of the lump sum is calculated in accordance with the following formula: Start formula start fraction open bracket ABA minus X close bracket times Comm over P subscript y plus m end fraction end formula where:

ABA is the adjusted base amount applicable to the non‑member spouse at the date when the first splittable payment became payable in respect of the superannuation interest.

X is the amount of the lump sum paid to the non‑member spouse under paragraph 50(2)(a).

Comm is the commutation factor for converting to a lump sum, under the governing rules of the plan, a pension payable to the member spouse or other person, if the pension were to be converted to a lump sum at:

(a) if the relevant splittable payment in respect of the superannuation interest is payable to the member spouse—the date of the first splittable payment to the member spouse in respect of the superannuation after the operative time; or
(b) if the relevant splittable payment in respect of the superannuation interest is payable to another person for the benefit of the member spouse—the earliest date when the pension could be commuted to a lump sum; or
(c) if the relevant splittable payment in respect of the superannuation interest is payable to a reversionary beneficiary after the death of the member spouse—the date of the member spouse’s death; or
(d) if the relevant splittable payment in respect of the superannuation interest is payable to the legal personal representative of the member spouse after the death of the member spouse, or the legal personal representative of a reversionary beneficiary covered by paragraph 90XE(1)(d) or 90YD(1)(d) of the Act after the death of that reversionary beneficiary—the earliest date at which the legal personal representative could choose to take the remaining benefits in respect of the interest as a lump sum.