79Approval of the transition factor, or a method for determining the transition factor, to be used for determining the amount the non‑member spouse is entitled to be paid

79 Approval of the transition factor, or a method for determining the transition factor, to be used for determining the amount the non‑member spouse is entitled to be paid

(1) The Minister may, by legislative instrument, approve the transition factor, or one or more methods for determining the transition factor, that is to be used to determine the amount a non‑member spouse is entitled to be paid in relation to a superannuation interest for which: (a) under section 62 or 70, the Minister has approved one or more methods or factors to be used to determine the gross value of the superannuation interest; and (b) subsection 81(3), 82(3), (5), (6) or (7), 83(2), 84(2) or (4) or 85(2) applies.

Note: Example: The instrument could approve the transition factors, or methods for determining the transition factors, in relation to one or more classes of superannuation interests (see subsection 13(3) of the Legislation Act 2003).

(2) An instrument under subsection (1) is made for the purposes of either or both of the following: (a) subsection 90XT(3) and subparagraph 90XT(1)(a)(i) of the Act; (b) subsection 90YY(4) and subparagraph 90YY(1)(a)(i) of the Act.