62Approval of methods and factors for determining gross value of particular superannuation interests

62 Approval of methods and factors for determining gross value of particular superannuation interests

(1) The Minister may, by legislative instrument, approve methods or factors that are to be used to determine the gross value of: (a) a superannuation interest for which section 52 applies (about most defined benefit interests); or (b) a superannuation interest for which section 55 applies (about partially vested accumulation interests); or (c) a superannuation interest for which section 56 applies (about interests consisting of 2 or more components); or (d) a superannuation interest for which section 57, 58 or 59 applies (about other defined benefit interests); or (e) a superannuation interest for which section 60 applies (about innovative superannuation interests); or (f) a superannuation interest for which 61 applies (about percentage‑only interests).

Note: A consequence of the definition of gross value of the superannuation interest at the relevant date in section 51 is that:

(a) section 61 is the only relevant provision for percentage‑only interests; and
(b) section 60 is the only relevant provision for innovative superannuation interests that are not percentage‑only interests.

(2) A method or factors approved by the Minister under subsection (1) may relate to any of the following: (a) the gross value of a superannuation interest, or a component of a superannuation interest, in a particular eligible superannuation plan; (b) the gross value of a superannuation interest, or a component of a superannuation interest, in a particular category of superannuation interests in a particular eligible superannuation plan; (c) the gross value, in particular circumstances, of any of the following: (i) a superannuation interest, or a component of a superannuation interest, in a particular eligible superannuation plan; (ii) a superannuation interest, or a component of a superannuation interest, in a particular category of superannuation interests, in a particular eligible superannuation plan; (d) the gross value, in particular circumstances, of a particular element of the scheme design of a superannuation interest in a particular eligible superannuation plan. (3) An instrument under subsection (1) is made for the purposes of either or both of the following: (a) subsection 90XT(3) and paragraph 90XT(2)(a) of the Act; (b) subsection 90YY(4) and paragraph 90YY(2)(a) of the Act.