21Requirements of this Subdivision

21 Requirements of this Subdivision

(1) The requirements of this Subdivision are met for a non‑member spouse’s entitlement under a particular superannuation agreement, flag lifting agreement or splitting order in respect of a superannuation interest if: (a) the interest is not a percentage‑only interest; and (b) subsection (2) or (3) applies for the interest. (2) This subsection applies for the superannuation interest if the trustee of the relevant eligible superannuation plan has, under the payment split provisions of the SIS Regulations, done any of the following things: (a) created a new interest in the plan for the non‑member spouse; (b) transferred or rolled over an amount equal to the value of the benefit that the non‑member spouse would be required to have if a new interest had been created for the non‑member spouse under the payment split provisions of the SIS Regulations; (c) paid to the non‑member spouse the amount that the non‑member spouse is entitled in respect of the superannuation interest at the time of the payment. (3) This subsection applies for the superannuation interest if the trustee of the relevant eligible superannuation plan has, under the payment split provisions of the RSA Regulations, done any of the following things: (a) opened a new RSA for the non‑member spouse; (b) transferred or rolled over an amount equal to the value that the non‑member spouse would be required to have if a new RSA had been opened for the non‑member spouse under the payment split provisions of the RSA Regulations; (c) paid to the non‑member spouse an amount that is at least the amount to which the non‑member spouse is entitled in respect of the superannuation interest at the time of the payment. (4) In this section:

payment split provisions of the RSA Regulations means the provisions of the RSA Regulations (other than Division 4A.4) dealing with superannuation interests that are subject to a payment split.

payment split provisions of the SIS Regulations means the provisions of the SIS Regulations (other than Division 7A.3) dealing with superannuation interests that are subject to a payment split.