29CPayment splits

#### 29C Payment splits 29C Payment splits > > (1) The object of this section is to facilitate arrangements for payment splits under the family law superannuation legislation and to provide for family law superannuation payments to or in respect of non-member spouses for the purposes of satisfying the requirements of Division 2.2 of Part 2 of the [Family Law (Superannuation) Regulations 2001](http://www.legislation.gov.au/) of the Commonwealth. > > > > Note— > > > > The effect of satisfying those requirements is that payments to the member spouse of a benefit under this Act will no longer be liable to be split for the purposes of the family law superannuation legislation. > > > (2) A non-member spouse has a family law superannuation entitlement to which this section applies if— > > > > > (a) the non-member spouse has an entitlement, that is operative, to be paid an amount under a superannuation agreement, flag lifting agreement or splitting order in respect of the superannuation interest of a member spouse (a family law superannuation entitlement), and > > > > > (b) the member spouse is, or was the spouse of, a person who has or had a period of service of not less than the period that entitles a member, who is otherwise eligible under this Act, to a pension, and > > > > > (c) the family law superannuation entitlement has not been paid to the non-member spouse by the member spouse, or waived by the non-member spouse, in accordance with the family law superannuation legislation. > > > (3) On written notice by a member spouse or a non-member spouse, or by any other person or court, of a family law superannuation entitlement of a non-member spouse to which this section applies, the trustees must take one of the following actions— > > > > > (a) pay or release to the non-member spouse an amount of the value of the family law superannuation entitlement (less any costs chargeable by the trustees), > > > > > (b) transfer or rollover to a complying superannuation fund or an RSA nominated by the non-member spouse an amount, of the value of the family law superannuation entitlement (less any costs chargeable by the trustees), to be held for the benefit of the non-member spouse. > > > (4) The trustees may take the action set out in subsection (3) (a) only if the member spouse is in receipt of a pension under this Act or the non-member spouse has satisfied a condition for payment or release of a benefit of a kind that would entitle a member to payment of a benefit if the Fund were a complying superannuation fund. > > > (5) The trustees must transfer a family law superannuation payment to FTC for crediting to the Aware Super Fund if— > > > > > (a) the payment is not payable under subsection (3) (a), and > > > > > (b) a non-member spouse fails, within the period prescribed by the regulations, to make a nomination for the purposes of subsection (3) (b) or a nominated fund or RSA does not accept the nomination. > > > (6) For the purposes of this section, the value of a family law superannuation entitlement or family law superannuation payment of a non-member spouse is to be determined by the trustees in accordance with any applicable provisions of the regulations and the family law superannuation legislation. > > > (7) The trustees must not pay a family law superannuation payment to or in respect of a non-member spouse under this section if the value of the payment that is or would be payable to or in respect of the non-member spouse at that time (taking into account any prior liability to pay a family law superannuation payment) is greater than the value of the member spouse’s superannuation interest (as calculated in accordance with the regulations) at that time. > > > (8) This section does not apply to or in respect of a pension while payment of the pension is suspended under this Act. > > **s 29C:** Ins 2003 No 77, Sch 5 \[4\]. Am 2022 No 29, Sch 2.3\[4\].