15CPayment splits

#### 15C Payment splits 15C 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 be no longer 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 a superannuation interest of a member spouse (a family law superannuation entitlement), and > > > > > (b) the member spouse is in receipt of a pension, or is eligible to be paid a lump sum benefit, under this Act, 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 Minister 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), > > > > > (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), to be held for the benefit of the non-member spouse. > > > (4) The Minister 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 person to payment of a benefit if the Fund were a complying superannuation fund. > > > (5) The Minister must transfer a family law superannuation payment to FTC for crediting to the First State Superannuation 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 a family law superannuation payment of a non-member spouse is to be determined in accordance with any applicable provisions of the regulations and the family law superannuation legislation.