(1)In These Regulations, Unless the Contrary Intention Appears

1.03 Interpretation

(1)In these regulations, unless the contrary intention appears:

1997 Tax Act means the Income Tax Assessment Act 1997.

accountbased pension means a pension that is provided in accordance with the rules of a fund that:

(a)are described in paragraph1.06(9A)(a); and

(b)meet the standards of subregulation1.06(9A).

accumulation fund means a regulated superannuation fund that is not a defined benefit fund.

accumulation interest means a superannuation interest that is not a defined benefit interest.

Act means the Superannuation Industry (Supervision) Act 1993.

adjusted base amount, in relation to a nonmember spouse at a particular date, means the adjusted base amount applicable to the nonmember spouse at that date worked out under Division6.1A of the Family Law (Superannuation) Regulations2001.

advance instalment of surcharge means the advance instalment payable under section11 of the Superannuation Contributions Tax (Assessment and Collection) Act 1997.

allocated pension means a pension that is provided under rules of a superannuation fund that meet the standards of subregulation1.06(4).

allot, for Division6.7, means to credit an amount from a member’s account to another account in the regulated superannuation fund held by, or created for, the receiving spouse otherwise than by transfer or rollover.

base amount payment split, in relation to a superannuation interest, means a payment split under which a base amount is allocated to the nonmember spouse in relation to the interest under PartVIIIB of the Family Law Act 1975.

benefit certificate has the meaning given by section10 of the SG(A) Act.

capital gains tax exempt componenthas the same meaning as CGT exempt component in subsection27A(1) of the Tax Act as in force immediately before 1July 2007.

child contributions means contributions that are made to a regulated superannuation fund in respect of a child, other than:

(a)contributions made in respect of the child by, or on behalf of, an employer of the child; and

(b)contributions made by a child in respect of himself or herself.

Cocontribution Act means the Superannuation (Government Cocontribution for Low Income Earners) Act 2003.

commencement day, in relation to a pension or an annuity, means the first day of the period to which the first payment of the pension or annuity relates.

contributions, in relation to a fund, includes:

(a)payments of shortfall components to the fund; and

(b)payments to the fund from the Superannuation Holding Accounts Special Account;

but does not include benefits that have been rolled over or transferred to the fund.

defined benefit fund, subject to regulation1.03AAA, means:

(a)a public sector superannuation scheme that:

(i)is a regulated superannuation fund; and

(ii)has at least 1 defined benefit member; or

(b)a regulated superannuation fund (other than a public sector superannuation scheme):

(i)that has at least 1 defined benefit member; and

(ii)some or all of the contributions to which (out of which, together with earnings on those contributions, the benefits are to be paid) are not paid into a fund, or accumulated in a fund, in respect of any individual member but are paid into and accumulated in a fund in the form of an aggregate amount.

defined benefit interest has the meaning given by regulation1.03AA.

defined benefit member means a member who is entitled, on retirement or termination of employment, to be paid a benefit defined wholly or in part by reference to:

(a)the member’s salary on retirement, termination of employment or an earlier date; or

(b)the member’s salary averaged over a period before retirement; or

(c)both (a) and (b); or

(d)a specified amount.

defined benefit pension means a pension mentioned in section10 of the Act, other than:

(a)a pension wholly determined by reference to policies of life assurance purchased or obtained by the trustee of a regulated superannuation fund, solely for the purposes of providing benefits to members of that fund; or

(b)an allocated pension; or

(c)a market linked pension; or

(d)an accountbased pension.

defined benefit subfund means a subfund of a defined benefit fund that:

(a)has at least one defined benefit member; and

(b)satisfies the conditions mentioned in section69A of the Act.

eligible rollover fund has the same meaning as in Part24 of the Act.

Note:As to what is an eligible rollover fund for Part24 of the Act, see section242 of the Act and regulation10.01.

eligible spouse contribution means a contribution made by an individual to a superannuation fund:

(a)to provide superannuation benefits for the individual’s spouse, whether or not the benefits would be payable to the dependants of the individual’s spouse if the spouse dies before or after becoming entitled to receive the benefits; and

(b)in circumstances in which the individual:

(i)could not have deducted the contribution under section82AAC of the Tax Act in the 2006–07 income year or a previous year; and

(ii)cannot deduct the contribution under Subdivision290B of the 1997 Tax Act in the 2007–08 income year or a later year.

eligible termination payment has the same meaning as in Subdivision AA of Division2 of PartIII of the Tax Act.

employer contribution, in relation to a regulated superannuation fund, means a contribution by, or on behalf of, an employersponsor of the fund.

EPSSS means an exempt public sector superannuation scheme.

FHSA Act means the First Home Saver Accounts Act 2008.

flag lifting agreement means a flag lifting agreement under PartVIIIB of the Family Law Act 1975.

FSR commencement has the same meaning as in section1410 of the Corporations Act 2001.

Note:The FSR commencement is the commencement of item1 of Schedule1 to the Financial Services Reform Act 2001.

fulltime, in relation to being gainfully employed, means gainfully employed for at least 30 hours each week.

gainfully employed means employed or selfemployed for gain or reward in any business, trade, profession, vocation, calling, occupation or employment.

growth phase has the meaning given by regulation1.03AB.

industrial authority means:

(a)a court, or a tribunal or other body or person, constituted under a law of the Commonwealth, a State or a Territory with power of conciliation or arbitration in relation to industrial disputes; or

(b)a special board constituted under the law of a State relating to factories.

life expectancyhas the same meaning as life expectation factor in section27H of the Tax Act.

lost member has the meaning given by regulation1.03A.

lost RSA holder has the meaning given by regulation1.06 of the RSA Regulations.

market linked annuity means an annuity provided under a contract that meets the standards of subregulation1.05(10).

market linked income stream means an annuity provided under a contract that meets the standards of subregulation1.05(10), or a pension paid under rules that meet the standards of subregulation1.06(8).

market linked pension means a pension paid under rules that meet the standards of subregulation1.06(8).

member, except in Part2, means:

(a)in relation to an approved deposit fund—a depositor in the fund; and

(b)in relation to a regulated superannuation fund—a member of the fund; and

(c)in relation to a PST—a unitholder in the PST.

Note:The meaning of the term ‘member’ in Part2 is defined in subregulation2.01(2).

member spouse, in relation to a superannuation interest that is subject to a payment split, means the person who is the member spouse in relation to the interest under PartVIIIB of the Family Law Act 1975.

minimum requisite benefit, in relation to a member, means the benefit certified by an actuary in a relevant benefit certificate as the minimum benefit in respect of the member.

nonmember spouse, in relation to a superannuation interest that is subject to a payment split, means the person who is the nonmember spouse in relation to the interest under PartVIIIB of the Family Law Act 1975.

old Regulations means these Regulations as in force immediately before the FSR commencement.

operative time, for a payment split, means the operative time under PartVIIIB of the Family Law Act 1975 for the payment split.

parttime, in relation to being gainfully employed, means gainfully employed for at least 10 hours, and less than 30 hours, each week

payment split means a payment split under PartVIIIB of the Family Law Act 1975.

payment split notice means a notice given by a trustee under regulation7A.03.

pension age:

(a)in relation to a person other than a person mentioned in paragraph(b)—has the meaning given by subsections23(5A), (5B), (5C) or (5D) of the Social Security Act 1991; and

(b)in relation to a person who is a veteran within the meaning of the Veterans’ Entitlement Act 1986—has the meaning that it has in section5QA of that Act.

percentageonly interest has the meaning given by PartVIIIB of the Family Law Act 1975.

percentage payment split, in relation to a superannuation interest, means a payment split under a superannuation agreement, flag lifting agreement or splitting order that specifies a percentage that is to apply to all splittable payments in respect of the interest.

protected member has the meaning given by regulation1.03B.

PST means a pooled superannuation trust.

receiving spouse has the meaning given by regulation6.46.

registered company auditor has the same meaning as in section9 of the Corporations Act 2001.

relevant benefit certificate, in relation to a regulated superannuation fund, means a benefit certificate that relates to a defined benefit superannuation scheme (within the meaning of the SG(A) Act) of which the fund forms part.

relevant entity means:

(a)a public offer entity; or

(b)an approved deposit fund.

Note:The expression relevant entity is defined in the same terms as in section22 of the Act.

reserves, in relation to a superannuation entity, means reserves maintained under section115 of the Act.

reviewable decision means:

(a)a decision of APRA under paragraph1.05(2)(c) refusing to approve a sum payable as benefit; or

(b)a decision of the Regulator under paragraph1.06(2)(c) refusing to approve a sum payable as benefit; or

(c)a decision of the Regulator refusing to approve the use of a factor under subregulation1.08(2); or

(d)a decision of APRA under paragraph4.08A(2)(e) refusing to approve an arrangement for management and control of a fund; or

(e)a decision of the Regulator under paragraph4.12(2)(b), 6.27B (b) or 7A.16 (8)(b) to not determine the form of consent; or

(f)a decision of APRA to refuse to suspend or vary an obligation of a trustee under subregulation6.37(6); or

(g)a decision of the Regulator under subparagraph7A.03J(2)(a)(ii) refusing to allow a longer period for a rollover or transfer of a nonmember spouse’s interest; or

(h)a decision of the Regulator under paragraph7A.03K(2)(b) or 7A.13(7)(b) refusing to allow a longer period to pay a lump sum; or

(i)a decision of the Regulator under subparagraph7A.12(4)(a)(ii) refusing to allow a longer period for rolling over or transferring transferable benefits; or

(j)a decision of the Regulator under paragraph7A.16(3)(b) refusing to allow a longer period to allocate, rollover or transfer nonmember spouse entitlements; or

(k)a decision of the Regulator to give a direction to a trustee to obtain a new or a replacement funding and solvency certificate under subregulation9.09(1A); or

(l)a decision of the Regulator under subregulation9.24(2) refusing to approve an actuary’s recommendation for a defined benefit fund; or

(m)a decision of the Regulator under subregulation9.44(2) refusing to approve an actuary’s recommendation for an accumulation fund; or

(n)a decision of APRA refusing to approve a proposed element of an actuarial basis for calculation of value A under subregulation12.05(5) or (6); or

(o)a decision of APRA refusing to approve a proposed assumption or element of an actuarial basis for calculation of value B under subregulation12.06(5); or

(p)a decision of APRA under regulation12.08 to specify a day on or before which an application is to be made; or

(q)a decision of APRA refusing to approve an application to transfer a PJFC under subregulation12.12(2) or 12.13(2); or

(r)a decision of APRA under regulation12.14 to revoke an approval of an application to transfer a PJFC; or

(s)a decision of the Regulator refusing to consent to an alteration of accrued benefits under subparagraph13.16(2)(a)(ii) or (d)(ii); or

(t)a decision of the Regulator to confirm or vary a reviewable decision under regulation13.25.

RSA Actmeans the Retirement Savings Accounts Act 1997.

RSA holder has the same meaning given to the term holder in section9 of the RSA Act.

RSA institution has the meaning given by section11 of the RSA Act.

RSA Regulations means the Retirement Savings Accounts Regulations.

SG(A) Act means the Superannuation Guarantee (Administration) Act 1992.

shortfall component has the same meaning as in the SG(A) Act.

splittable payment means a splittable payment under PartVIIIB of the Family Law Act 1975.

splitting order means a splitting order under PartVIIIB of the Family Law Act 1975.

successor fund, in relation to a transfer of benefits of a member from a fund (called the original fund), means a fund which satisfies the following conditions:

(a)the fund confers on the member equivalent rights to the rights that the member had under the original fund in respect of the benefits;

(b)before the transfer, the trustee of the fund has agreed with the trustee of the original fund that the fund will confer on the member equivalent rights to the rights that the member had under the original fund in respect of the benefits.

superannuation agreement means a superannuation agreement under PartVIIIB of the Family Law Act 1975.

superannuation contributions surchargemeans the superannuation contributions surcharge imposed by the Superannuation Contributions Tax Imposition Act 1997.

Superannuation Holding Accounts Special Account means the Special Account established by section8 of the Small Superannuation Accounts Act 1995.

superannuation lump sum has the meaning given by subsection9951(1) of the 1997 Tax Act.

Tax Act means the Income Tax Assessment Act 1936.

transferable benefits, in relation to a superannuation interest that is subject to a payment split and in relation to the nonmember spouse in relation to that interest, means benefits that are equal to:

(a)if the payment split is a base amount payment split and an adjusted base amount applies to the nonmember spouse when the benefits are transferred—the adjusted base amount less the amount of any fees payable by the nonmember spouse in respect of the payment split; or

(b)if the payment split is a base amount payment split and an adjusted base amount does not apply to the nonmember spouse when the benefits are transferred—the base amount allocated to the nonmember spouse, within the meaning of regulation45 of the Family Law (Superannuation) Regulations2001, less the amount of any fees payable by the nonmember spouse in respect of the payment split; or

(c)if the payment split is a percentage payment split:

(i)for an entitlement, in respect of an accumulation interest in the growth phase that is not a partially vested accumulation interest, to which subparagraph(ii) does not apply—the amount in relation to the interest at the time when the benefits are transferred, determined in the way in which a court would determine an amount in accordance with regulation28 and subregulation31(2A) of the Family Law (Superannuation) Regulations2001, multiplied by the specified percentage, less the amount of any fees payable by the nonmember spouse in respect of the payment split; or

(ii)for an entitlement in respect of an interest in a selfmanaged superannuation fund—the amount in relation to the interest at the time when the benefits are transferred, determined by a method that a court might use if the court were acting under paragraph90MT(2)(b) of the Family Law Act 1975, multiplied by the specified percentage, less the amount of any fees payable by the nonmember spouse in respect of the payment split; or

(iii)for an entitlement in respect of any other interest—the amount in relation to the interest at the time when the benefits are transferred, determined in the way in which a court would determine an amount in accordance with the relevant method in Part5 of the Family Law (Superannuation) Regulations2001, multiplied by the specified percentage, less the amount of any fees payable by the nonmember spouse in respect of the payment split.

unfunded public sector superannuation scheme means a regulated superannuation fund that is declared to be an unfunded defined benefits superannuation scheme under regulation2A of the Superannuation Contributions Tax (Assessment and Collection) Regulations1997.

withdrawal benefit, in relation to a member of a superannuation entity, means the total amount of the benefits that would be payable to:

(a)the member; and

(b)the trustee of another superannuation entity or an EPSSS in respect of the member; and

(c)an RSA in respect of the member; and

(d)another person or entity because of a payment split in respect of the member’s interest in the superannuation entity;

if the member voluntarily ceased to be a member.

(2)In these Regulations, other than Part2:

fund means:

(a)an approved deposit fund; or

(b)a regulated superannuation fund.

Note:For the meaning of fund in Part2, see subregulation2.01(3).