8Meaning of growth phase—superannuation interests in other eligible superannuation plans

8 Meaning of growth phase—superannuation interests in other eligible superannuation plans

(1) This section applies to a superannuation interest of a member spouse in any of the following eligible superannuation plans: (a) a superannuation annuity; (b) a superannuation fund other than a regulated superannuation fund. (2) The superannuation interest, or a component of the interest, is in the growth phase at a particular date if, at that date: (a) a releasing event has not occurred for the member spouse for the superannuation interest or the component of the interest; or (b) a releasing event has occurred for the member spouse for the superannuation interest or the component of the interest, but no action has been taken by or for the member spouse under the governing rules of the plan to receive any benefit that the member spouse is entitled to be paid as a result of the occurrence of the releasing event; or (c) a releasing event has occurred for the member spouse for the superannuation interest or the component of the interest, and a benefit (other than a benefit that is paid as a pension) has been paid to or for the benefit of: (i) the member spouse; or (ii) if the member spouse has died—the member spouse’s legal personal representative; but no action has been taken by or for the member spouse, or that legal personal representative, under the governing rules of the plan to receive any other benefit that the member spouse, or the member spouse’s estate, is entitled to be paid as a result of the occurrence of the releasing event. Meaning of releasing event (3) For the purposes of this section, a releasing event has occurred for a member spouse at a particular date for a superannuation interest, or a component of a superannuation interest, if at that date: (a) the member spouse has retired; or (b) the member spouse has died; or (c) the member spouse has a terminal medical condition (as defined in regulation 6.01A of the SIS Regulations); or (d) as a result of the member spouse’s ill health (whether physical or mental), the member spouse: (i) has ceased to be gainfully employed (including if the member spouse has ceased temporarily to receive any gain or reward under a continuing arrangement for the member spouse to be gainfully employed); and (ii) is unlikely, because of the ill health, ever again to engage in gainful employment for which the member spouse is reasonably qualified by education, training or experience; or (e) the member spouse has turned 65 years; or (f) in the case of a member spouse for whom: (i) the member spouse’s employer; or (ii) one or more associates (within the meaning of section 12 of the SIS Act) of the member spouse’s employer; has contributed to the member spouse’s eligible superannuation plan in relation to the superannuation interest—the member spouse has ceased the member spouse’s employment with that employer.