Document ID: chunk:federal_register_of_legislation:C2010C00635:clause:2_6
Version: federal_register_of_legislation:C2010C00635
Segment Type: clause
Provision Reference: sch 2 cl 6
Character Range: 13497–14133

6  After subsection 15(6)
Insert:

Payment to be made if fund ceases to be a constitutionally protected superannuation fund

 (6A) If a superannuation fund ceases to be a constitutionally protected superannuation fund at a time when a member's surcharge debt account is in debit, the member is liable to pay to the Commissioner the lesser of:
 (a) the amount by which the account is in debit; or
 (b) 15% of the employer‑financed component of that part of the value of the age retirement benefits of the member at the time when the fund ceased to be a constitutionally protected superannuation fund that accrued after 20 August 1996.