Superannuation (Family Law - Superannuation Act 1922) Orders 2004 (Cth)

Superannuation (Family Law — Superannuation Act 1922) Orders 2004

Statutory Rules 2004 No. 851

I, NICHOLAS HUGH MINCHIN, Minister for Finance and Administration, make these Orders under subsection 93DE (1) of the Superannuation Act 1922. Dated 9 May 2004

NICK MINCHIN Minister for Finance and Administration

Contents

1 Name of Orders 2 Commencement 3 Definitions 4 Annual rate of associate pension for non-member spouse 5 Commutation of small associate pension — minimum amount 6 Reduction of standard pension

1 Name of Orders

These Orders are the Superannuation (Family Law — Superannuation Act 1922) Orders 2004.

2 Commencement

These Orders commence as follows: (a) on the date of their notification in the Gazette — sections 1, 2 and 3; (b) on the commencement of Schedule 1 to the Superannuation Legislation Amendment (Family Law and Other Matters) Act 2004 — sections 4, 5 and 6.

3 Definitions

(1) In these Orders: Act means the Superannuation Act 1922. FLS Regulations means the Family Law (Superannuation) Regulations 2001.

(2) An expression that is used in these Orders, and defined in section 93DA of the Act, has the meaning given by that section.

Note Section 93DA of the Act defines expressions including non-member spouse, operative time and transfer amount. Some expressions are defined in section 93DA to have the same meaning as in the Family Law Act 1975.

4 Annual rate of associate pension for non-member spouse

For subsection 93DB (2) of the Act, the annual rate of associate pension payable to a non-member spouse to whom that subsection relates is calculated as follows:

Step 1 Identify the transfer amount in relation to the non-member spouse.

Note Subsection 93DB (2) of the Act requires the rate of associate pension to be calculated by reference to the transfer amount. Step 2 Identify a factor for the non-member spouse that is equal to the value Py+m specified in subclause 2 (2) of Schedule 4 to the FLS Regulations.