60Gross value—innovative superannuation interest

60 Gross value—innovative superannuation interest

(1) This section applies for the superannuation interest if the whole of the interest is an innovative superannuation interest that is not a percentage‑only interest.

Note: Innovative superannuation interests that are annuities are percentage‑only interests, and so are dealt with by section 61.

Minister has approved one or more methods or factors, and there is evidence that the trustee has used those methods or factors (2) If: (a) under section 62, the Minister has approved one or more methods or factors to be used to determine the gross value of the superannuation interest; and (b) evidence before the court includes the contents of a statement that: (i) was issued by the trustee of the plan in which the interest is held; and (ii) sets out the gross value of the interest as determined using the approved methods or factors; the gross value of the superannuation interest at the relevant date is as set out in the statement. Minister has not approved any methods or factors, and there is evidence that the trustee has used the method in Schedule 3 (3) If: (a) paragraph (2)(a) does not apply; and (b) evidence before the court includes the contents of a statement that: (i) was issued by the trustee of the plan in which the superannuation interest is held; and (ii) sets out the gross value of the interest as determined using the method set out in Schedule 3 as if the interest were a defined benefit interest; the gross value of the superannuation interest at the relevant date is as set out in the statement. There is no evidence before the court of the contents of a statement referred to in paragraph (2)(b) or (3)(b) (4) If neither paragraph (2)(b) nor (3)(b) applies, the gross value of the superannuation interest at the relevant date is to be determined using: (a) if, under section 62, the Minister has approved one or more methods or factors to be used to determine the gross value of the interest—the approved methods or factors; or (b) otherwise—the method set out in Schedule 3 as if the interest were a defined benefit interest.