Federal Register of Legislation - Australian Government

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Approvals as made
This instrument amends Schedule 1 of the Family Law (Superannuation) (Methods and Factors for Valuing Particular Superannuation Interests) Approval 2003, providing alternative methods for valuing superannuation interests held in the Commonwealth Superannuation Scheme and in the Public Sector Superannuation Scheme.
Administered by: Attorney-General's
Exempt from sunsetting by the Legislative Instruments Act 2003 s 54(2) item 42
Registered 31 Jan 2008
Tabling HistoryDate
Tabled HR12-Feb-2008
Tabled Senate12-Feb-2008
Date of repeal 09 Apr 2013
Repealed by Attorney-General's (Spent and Redundant Instruments) Repeal Regulation 2013

I, ROBERT McCLELLAND, Attorney‑General, make this Approval under regulation 38 of the Family Law (Superannuation) Regulations 2001.

Dated 25 January  2008

ROBERT McCLELLAND


  

  

1              Name of Approval

                This Approval is the Family Law (Superannuation) (Methods and Factors for Valuing Particular Superannuation Interests) Amendment Approval 2008 (No. 1).

2              Commencement

                This Approval commences on the day after it is registered.

3              Amendment of Family Law (Superannuation) (Methods and Factors for Valuing Particular Superannuation Interests) Approval 2003

                Schedule 1 amends the Family Law (Superannuation) (Methods and Factors for Valuing Particular Superannuation Interests) Approval 2003.


Schedule 1        Amendments

(section 3)

  

[1]           Schedule 1, Part 1, clause 2, table, item 1

omit

ABC + ASC + PCI + (AP × S × PFy+m,s) +
(ABC × RPFy+m,s) + (SG × LSFy+m,s)

insert

ABC + ASC + PCI + (AP × S × PFy+m,s) +
(ABC × RPFy+m,s) + (SG × LSFy+m,s) – ERDA

[2]           Schedule 1, Part 1, clause 2, table, item 1, after definition of LSFy+1,s

insert

ERDA is the person’s early release deduction amount within the meaning of subsection 79A (1) of the 1976 Act at the relevant date.

[3]           Schedule 1, Part 1, clause 2, table, item 2

omit

ABC + ASC + PCI + (P × Fy+m)

insert

ABC + ASC + PCI + (P × Fy+m) – ERDA

[4]           Schedule 1, Part 1, clause 2, table, item 2, after definition of Fy+1

insert

ERDA has the same meaning as in item 1.

[5]           Schedule 1, Part 1, clause 2, table item 3

omit

ABC + ASC + PCI + (ABC × 2.5 × DFy+m)

insert

ABC + ASC + PCI + (ABC × 2.5 × DFy+m) – ERDA

[6]           Schedule 1, Part 1, clause 2, table, item 3, after definition of DFy+1

insert

ERDA has the same meaning as in item 1.

[7]           Schedule 1, Part 1, clause 2, table, item 4

omit

ABC + ASC + PCI + (2.5 × (ABC – MTV) +
 TTV – MTV) × DFy+m

insert

ABC + ASC + PCI + (2.5 × (ABC – MTV) +
 TTV – MTV) × DFy+m – ERDA

[8]           Schedule 1, Part 1, clause 2, table, item 4, after definition of DFy+1

insert

ERDA has the same meaning as in item 1.

[9]           Schedule 1, Part 1, clause 2, table, item 5

omit

(NIP × Gy+m) + PCI + (P × Fy+m)

insert

(NIP × Gy+m) + PCI + (P × Fy+m) – ERDA

[10]         Schedule 1, Part 1, clause 2, table, item 5, after definition of Fy+1

insert

ERDA is the person’s early release deduction amount within the meaning of subsection 79A (1) of the 1976 Act at the relevant date, less any part of that amount that relates to a benefit reduction made under section 79D of that Act before that date.

[11]         Schedule 1, Part 1, clause 2, table, item 6

omit

PCI + (P × Fy+m)

insert

PCI + (P × Fy+m) – ERDA

[12]         Schedule 1, Part 1, clause 2, table, item 6, after definition of Fy+m

insert

ERDA has the same meaning as in item 5.

[13]         Schedule 1, Part 1, clause 2, table, item 7

omit

ABC + ASC + PCI + (P × Fy+m)

insert

ABC + ASC + PCI + (P × Fy+m) – ERDA

[14]         Schedule 1, Part 1, clause 2, table, item 7, after definition of Fy+m

insert

ERDA has the same meaning as in item 1.

[15]         Schedule 1, Part 1, clause 2, table, item 8

omit

ABC + ASC + PCI +(AP × AS × DUPy+m)

insert

ABC + ASC + PCI + (AP × AS × DUPy+m) – ERDA

[16]         Schedule 1, Part 1, clause 2, table, item 8, after definition of DUPy+1

insert

ERDA has the same meaning as in item 1.

[17]         Schedule 1, Part 2, subclause 1 (2)

after

                ·      average salary

insert

                ·      early release deduction amount

[18]         Schedule 1, Part 2, clause 2, table, item 1

omit

ABM × AS × ABFy+m,s + AMC × (1 ‑ MCFy+m,s )
 + APC × ( 1 ‑ PCFy+m,s ) + ATA

insert

ABM × AS × ABFy+m,s + AMC × (1 ‑ MCFy+m,s)
 + APC × (1 ‑ PCFy+m,s) + ATA – ERDA

[19]         Schedule 1, Part 2, clause 2, table, item 1, after definition of ATA

insert

ERDA is the person’s early release deduction amount at the relevant date.

[20]         Schedule 1, Part 2, clause 2, table, item 2

omit

UDB × UDBFy+m + FDB × FDBFy+m + ATA

insert

UDB × UDBFy+m + FDB × FDBFy+m + ATA – ERDA

[21]         Schedule 1, Part 2, clause 2, table, item 2, after definition of ATA

insert

ERDA has the same meaning as in item 1.

[22]         Schedule 1, Part 2, clause 2, table, item 3

omit

UDB × UDBFy+m + FDB + ATA

insert

UDB × UDBFy+m + FDB + ATA – ERDA

[23]         Schedule 1, Part 2, clause 2, table, item 3, after definition of ATA

insert

ERDA has the same meaning as in item 1.


Note

1.       All legislative instruments and compilations are registered on the Federal Register of Legislative Instruments kept under the Legislative Instruments Act 2003. See http://www.frli.gov.au.