Section 90YM — Family Law Act 1975: Operative time for payment split

(1) The operative time for a payment split under a superannuation agreement or flag lifting agreement is the beginning of the fourth business day after the day on which a copy of the agreement is served on the trustee, accompanied by: (a) for a payment split under a superannuation agreement if a separation declaration is not part of the superannuation agreement—a separation declaration; and (b) if the agreement specifies a method for calculating a base amount—a document setting out the amount calculated using that method; and (c) if a form of declaration is prescribed for the purposes of this paragraph—a declaration in that form. Note: The base amount is used to calculate the entitlement of the non-member spouse under the regulations. (2) For the purposes of subsection (1), the separation declaration must have a declaration time that is not more than 28 days before the service on the trustee.