Family Law (Superannuation) (Methods and Factors for Valuing Particular Superannuation Interests) Amendment Approval 2019

I, Christian Porter, Attorney‑General, make the following approval.

Dated 20 March 2019

Christian Porter

Attorney‑General

Contents

1 Name

2 Commencement

3 Authority

4 Schedules

Schedule 1—Amendments

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

1  Name

  This instrument is the Family Law (Superannuation) (Methods and Factors for Valuing Particular Superannuation Interests) Amendment Approval 2019.

2  Commencement

 (1) Each provision of this instrument specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.

Note: This table relates only to the provisions of this instrument as originally made. It will not be amended to deal with any later amendments of this instrument.

 (2) Any information in column 3 of the table is not part of this instrument. Information may be inserted in this column, or information in it may be edited, in any published version of this instrument.

3  Authority

  This instrument is made under regulation 38 of the Family Law (Superannuation) Regulations 2001.

4  Schedules

  Each instrument that is specified in a Schedule to this instrument is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its terms.

Schedule 1—Amendments

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

1  Subclause 1(3) of Part 9 of Schedule 2 (Note 1, before “Commonwealth co‑contribution account”)

Insert:

 additional employer contributions account

2  Clause 2 of Part 9 of Schedule 2 (table item 1, column headed “Method”)

Omit:

substitute:

3  Clause 2 of Part 9 of Schedule 2 (table item 1, column headed “Method”, at the end of the column)

Add:

AEC is the sum of:

(a) the balance of the additional employer contributions account of the person at the relevant date; and

(b) the amount of adjustment (if any) that STC would make to that account under section 11 of the SANCS Act if the person had voluntarily ceased to be an employee at the relevant date.