Statutory Rules 1993 No. 3491
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Superannuation (Former Contributors for Units of Pension) Regulations2 (Amendment)
I, The Governor-General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following Regulations under the Superannuation Act 1976.
Dated 15 December 1993.
BILL HAYDEN
Governor-General
By His Excellency’s Command,
RALPH WILLIS
Minister for Finance
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1. Commencement
1.1 These Regulations are taken to have commenced on 18 December 1992.
2. Amendment
2.1 The Superannuation (Former Contributors for Units of Pension) Regulations are amended as set out in these Regulations.
3. Schedule (Modification of the Act in its application in relation to certain persons to whom section 183 of the Act applies)
3.1 Modification of Part IX:
Inserted section 130b:
Omit all words from and including “there is payable” to the end, substitute:
“there is payable to or in respect of the person an additional lump sum benefit of an amount equal to the total of:
(c) the amount, or part of the amount, referred to in paragraph (b) that was payable to the person, whether or not he or she engaged in further employment, on the termination of the person’s employment because of which subsection 119h (1) of the superseded Act applied to the person; and
(d) the amount that would have accrued by way of interest on the amount worked out in accordance with paragraph (c) if the latter amount had been paid into the Fund on the later of:
(i) 1 July 1976; or
(ii) the day on which the amount referred to in paragraph (b) was paid to the Commonwealth.”.
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NOTES
1. Notified in the Commonwealth of Australia Gazette on 17 December 1993.
2. Statutory Rules 1978 No. 281 as amended by 1991 Nos. 191 and 467; 1992 No. 268.