Document ID: chunk:federal_register_of_legislation:C2004A04907:body:0:p19
Version: federal_register_of_legislation:C2004A04907
Segment Type: other
Provision Reference: 
Character Range: 46249–49229

considers appropriate, taking into account the requirements of the SIS Act, for making payments out of the Superannuation Fund and the Consolidated Revenue Fund by way of dealing with the transferred amount (including the payment of interest on any part of that amount that was paid into the Superannuation Fund).

"(7A) If, under an arrangement made by the Board under subsection (7), an amount has to be paid out of the Consolidated Revenue Fund, the Consolidated Revenue Fund is appropriated for the purpose of the payment.".

116. Paragraph 128AA(2)(a):

Omit "Superannuation (1990) Scheme", substitute "Public Sector Superannuation Scheme".

117. Subsections 131(1), (2) and (3):

Omit.

118. Subsection 131(4) (definition of "former eligible employee with benefits from previous employment"):

Omit from subparagraph (c)(iii) "the".

119. Section 132:

Repeal.

120. Paragraph 134(5)(a):

Omit, substitute:

SCHEDULE 2—continued

    "(a) the relevant scheme is a public sector superannuation scheme that is:

        (i) a regulated superannuation fund; or

        (ii) an exempt public sector superannuation scheme;".

121. Subparagraph 134(7)(a)(ii):

Omit "Superannuation Industry (Supervision) Act 1993 and the regulations under that Act", substitute "SIS Act".

122. Subparagraph 134(7)(b)(i):

Omit "Superannuation Industry (Supervision) Act 1993 and the regulations under that Act", substitute "SIS Act".

123. Subsections 137(3) and (4):

Omit.

124. Sections 138 and 139:

Repeal, substitute:

Circumstances in which person entitled to deferred benefits

"138.(1) Subject to this Division, if a person makes an election under section 137, deferred benefits are applicable in respect of the person.

"(2) Deferred benefits that are applicable in respect of a person become payable on the day immediately before the earliest of the following dates:

    (a) if the Board is satisfied that the person has, because of invalidity or physical or mental incapacity, become totally and permanently incapacitated within the meaning of Part IVA—the date that the Board considers to have been the date on which the person became so incapacitated;

    (b) the date of the person's death;

    (c) subject to subsection (3), if the person, by written notice given to the Board, selects a date (not earlier than the date on which the notice is given) for the start of the payment of the deferred benefits—the date so selected;

    (d) the 65th anniversary of the person's birth.

"(3) Paragraph (2)(c) does not apply unless:

    (a) the person will have, by the date selected:

        (i) reached the age that would have been his or her minimum retiring age for the purposes of this Act if he or she had not ceased to be an eligible employee and had continued to occupy the position held by him or her immediately before so ceasing; and

        (ii) reached the 55th anniversary of the person's birth; and

SCHEDULE 2—continued

    (b) the person has provided the Board