Document ID: chunk:federal_register_of_legislation:F2007L01943:body:0:p5
Version: federal_register_of_legislation:F2007L01943
Segment Type: other
Provision Reference: 
Character Range: 11395–14713

is further amended by inserting the following definition in alphabetical order:

                  "interest includes negative or zero interest, and the following words, when used in relation to interest, have a corresponding meaning – accrue, accrued, accruing, accumulate, accumulated, accumulates."

     8.9                   Rule 1.2.1 is further amended by inserting the following definition in alphabetical order:

                  "notional interest includes negative or zero notional interest."

     8.10               Rule 1.2.1 is further amended by inserting the following definition in alphabetical order:

                  "plus has a meaning affected by Rule 1.2.5."

     8.11               Rule 1.2.1 is further amended by inserting the following definition in alphabetical order:

                  "sum has a meaning affected by Rule 1.2.5."

     8.12               Rule 1.2.1 is further amended by inserting the following definition in alphabetical order:

                  "total has a meaning affected by Rule 1.2.5."

     8.13               The following rule is inserted after Rule 1.2.4:

      "1.2.5 If:

                  (a) a provision of these Rules involves the calculation of a sum (whether the expression "cumulative", "sum", "total", "plus" or any other expression is used); and

                  (b) the calculation involves negative interest or negative notional interest; and

                  (c) apart from this Rule, the sum would be less than zero;

the sum is taken to be zero."

     8.14               Rule 11.3.11 is replaced with the following Rule:

      "11.3.11 Any member contributions paid by the member subsequent to the contribution due day ascertained under Rule 11.3.10, plus the interest (if any) on these contributions in accordance with a determination or determinations by the Board as to rates of interest and method of allocation, are payable to the former member."

     8.15               Subparagraph (a)(i) of Rule 12.1.5 is replaced with the following subparagraph:

                      "(i) the amount of lump sum paid that is no longer payable, plus such interest, if any, as the Board determines is repaid by the date specified by the Board; and"

     9.                       To avoid doubt, the amendments made by clause 8 do not imply that:

          (a) zero interest could not have been determined under the Rules before 1 July 2007; or

          (b) zero notional interest could not have been determined under the Rules before 1 July 2007.

IN WITNESS WHEREOF this Deed has been executed the day and year first hereinbefore written.

SIGNED, SEALED AND DELIVERED  )

       )

by the Honourable NICK MINCHIN   ) Nick Minchin

       )

Minister for Finance and Administration  )

       )

for and on behalf of     )

       )

THE COMMONWEALTH OF   )

       )

AUSTRALIA, in the presence of:   )

       ) DWawn

        DAVID WAWN    )

  (name)     )

       )

 Parliament House, Canberra   )

  (address)    )

       )

  Chief of Staff    )

  (description)    )

       )

Note to the Deed:

TABLE LISTING TRUST DEED AND AMENDING DEEDS

Before 1 January 2005, section 45 of the Superannuation Act 1990 provided, in part, that instruments under subsection 5(1) amending