Document ID: chunk:federal_register_of_legislation:C2004A04205:body:0:p41
Version: federal_register_of_legislation:C2004A04205
Segment Type: other
Provision Reference: 
Character Range: 103479–106322

approved by the Minister under section 33c;

'assets' means property of any kind and, without limiting the generality of the foregoing, includes:

  (a) choses in action; and

    (b) rights, interests and claims of every kind in or to property, whether arising under or because of an instrument or otherwise, and whether liquidated or unliquidated, certain or contingent, accrued or accruing;

investment assets of the Fund' means the assets of the Fund or of the Board arising out of, or otherwise connected with, the exercise or proposed exercise by the Board of its power to invest money of the Fund;

'investment liabilities of the Fund' means liabilities of the Fund or of the Board arising out of, or otherwise connected with, the exercise or proposed exercise by the Board of its power to invest money of the Fund;

'liabilities' means liabilities of every kind and, without limiting the generality of the foregoing, includes obligations of every kind, whether arising under or because of an instrument or otherwise, and whether liquidated or unliquidated, certain or contingent, accrued or accruing.

Approval of superannuation schemes

"33c. (1) The Minister may approve, in writing, for the purposes of this Division, a superannuation scheme that provides benefits for persons who are employed by, or are members of the staff of, an authority or body.

"(2) Where the Minister gives an approval under subsection (1), the Minister is to determine, in writing, the period within which, for the purposes of this Division, a person who is a member of the Superannuation Scheme and employed by, or a member of the staff of, the authority or body may become a member of the superannuation scheme as so approved.

Transfer of assets etc. to approved superannuation schemes

"33d. The Board must, at such times as the Minister determines, transfer to the person or body administering an approved superannuation scheme:

    (a) such assets of the Fund (including investment assets of the Fund) as are determined by the Minister to be assets that fairly and equitably represent the accumulated funded contributions of those persons who:

         (i) have become members of the approved superannuation scheme within such period as, in relation to each of those persons, has been determined under subsection 33c (2); and

         (ii) immediately before becoming such members, were members of the Superannuation Scheme; and

    (b) such liabilities (if any) (including investment liabilities of the Fund) as are determined by the Minister to be liabilities relating to those assets.

Payments from Consolidated Revenue Fund

"33e. (1) There must be paid to the person or body administering an approved superannuation scheme, at such times as the Minister determines, such amounts (if any) as are determined by the Minister having regard to: