National Provident Fund Restructuring Amendment Act 1992

1: Short Title and commencement
1: This Act may be cited as the National Provident Fund Restructuring Amendment Act 1992, and shall be read together with and deemed part of the National Provident Fund Restructuring Act 1990
2: Except as provided in subsections (3) (4)
3: Sections 6 7
4: Section 11
2:
3:
4:
5: Transfer to other superannuation schemes
1: This subsection substituted section 50
2: Subject to section 64
a: Giving effect to section 50 subsection (1)
b: Specifying in the trust deed the terms and conditions on which any member or other beneficiary of any existing scheme may transfer to the scheme; and
c: Otherwise facilitating the transfer of members and property.
3: Nothing in the trust deed for an existing scheme or the Superannuation Schemes Act 1989
6:
7: Consequences of executing trust deed in respect of existing scheme
1: This subsection substituted section 57
2: Nothing in section 57(1)(c) subsection (1)
3: Section 10 National Provident Fund Restructuring Amendment Act 1991
8: Provisions relating to Lump Sum Cash Accumulation Scheme
1: This subsection repealed section 62
2: This subsection amended section 63
3: For the avoidance of doubt, it is hereby declared that the Crown guarantees pursuant to section 60
a: The repayment of contributions to the Lump Sum Cash Accumulation Scheme (whether before or after the transfer day) by any person who at the time the contributions were made had not attained the age of 65 years; and
b: The payment of interest payable on those contributions by the Board.
4: Notwithstanding any other enactment or rule of law, the Board is hereby authorised to amend the trust deed for the Lump Sum Cash Accumulation Scheme to permit contributors to contribute until they attain the age of 65 years.
5: Nothing in the trust deed for the Lump Sum Cash Accumulation Scheme or the Superannuation Schemes Act 1989
9:
10:
11:
12: Board authorised to make further amendments to trust deeds
1: Notwithstanding any enactment or rule of law but subject to this section, the Board is hereby authorised to amend, on or before the 31st day of March 1993, any trust deed in respect of any existing scheme in order to:
a: Reflect the practice of the Board in relation to that scheme immediately before the 1st day of April 1991 (whether or not the practice was authorised by the terms and conditions of the scheme or by any Act or rule of law); or
b: Correct any errors in the trust deed (whether or not those errors were also in any terms and conditions of the scheme immediately before the date of execution of the trust deed); or
c: Clarify any provisions in the trust deed which are ambiguous or unclear (whether or not those provisions were ambiguous or unclear in any terms and conditions of the scheme immediately before the date of execution of the trust deed).
2: No amendment to a trust deed in accordance with subsection (1)
a: Be made or be of any force or effect unless the Minister has first approved the proposed amendment:
b: Limit or affect any judgment, order, or determination of a court in proceedings commenced before the amendment is made.
3: Nothing in the trust deed for an existing scheme or the Superannuation Schemes Act 1989
4: Subject to subsection (2)