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Superannuation (Former Contributors for Units of Pension) Regulations (Amendment)

Authoritative Version
  • - F1996B00032
  • No longer in force
SR 1993 No. 349 Regulations as made
Amends the Superannuation (Former Contributors for Units of Pension) Regulations
Administered by: Finance
General Comments: This instrument was backcaptured in accordance with Section 36 of the Legislative Instruments Act 2003
Exempt from sunsetting by the Legislative Instruments Regulations 2004 Sch 3 item 40
Registered 01 Jan 2005
Tabling HistoryDate
Tabled HR16-Dec-1993
Tabled Senate16-Dec-1993
Gazetted 17 Dec 1993
Date of repeal 19 Mar 2014
Repealed by Finance (Spent and Redundant Instruments) Repeal Regulation 2014

Statutory Rules 1993   No. 3491

__________________

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

____________

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in further employment, on the termination of the person’s employment because of which subsection 119h (1) of the superseded Act applied to the person; and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.”.

____________________________________________________________

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.