Document ID: chunk:federal_register_of_legislation:C2004A04762:body:0:p11
Version: federal_register_of_legislation:C2004A04762
Segment Type: other
Provision Reference: 
Character Range: 26523–29156

are not complied with.
  "(6) In subsection (5):
  'public sector superannuation scheme' means a scheme for the payment of
superannuation, retirement or death benefits that is established:
  (a) by or under a law of the Commonwealth, of a State or of a Territory; or
  (b) under the authority of:
    (i) the Commonwealth, a State or a Territory; or
    (ii) a municipal corporation, another local governing body, or a
public authority constituted by or under a law of the Commonwealth, of a State
or of a Territory; or
    (iii) a company or other body corporate in which the Commonwealth, a
State, a Territory, a municipal corporation, another local governing body or a
public authority referred to in subparagraph (ii) has, or any 2 or more of
them together have, a controlling interest;
  'trustee', in relation to a superannuation scheme of which there is no
trustee (within the ordinary meaning of that expression), means the person who
manages the scheme.
  "(7) The whole or a part of an employer component, or the part of a transfer
value that represents the whole or a part of an employer component, referred
to in subparagraph (5)(c)(i) or (ii), as the case may be, may only be paid out
as follows:
  (a) except where the amount proposed to be paid is the whole or a part of a
lump sum retrenchment benefit to which paragraph (b) applies, payment may be
made:
    (i) to an eligible superannuation scheme; or
    (ii) in the same circumstances, and to the same extent, as benefits
that are required to be compulsorily preserved under the Superannuation
Industry (Supervision) Act 1993 and the regulations under that Act may be
paid;
  (b) if the amount proposed to be paid is the whole or a part of a lump sum
retrenchment benefit that has become payable before 1 July 2000:
    (i) payment may be made of any part of the amount other than the
amount (the 'preserved part of the amount') required to be compulsorily
preserved under the Superannuation Industry (Supervision) Act 1993 and the
regulations under that Act; and
    (ii) payment may be made of the preserved part of the amount in the
circumstances provided for under that Act and those regulations.
  "(8) A superannuation scheme to which an agreement made under subsection (1)
relates is not an eligible superannuation scheme in relation to a person if
Part XIII or XIIIA applies in respect of the person because of his or her
having become a member of the superannuation scheme.
  "(9) A person is taken, for the purposes of this Division, to have been a
member of an eligible superannuation scheme at a particular time if, and only
if, the person was at that