Document ID: chunk:federal_register_of_legislation:F2025L00281:clause:1_23
Version: federal_register_of_legislation:F2025L00281
Segment Type: clause
Provision Reference: sch 1 cl 23
Character Range: 2622397–2624380

23    43   0.80

Part 116 Woolworths Group Superannuation Scheme

1 Interpretation
 (1) In this Part:
member has the meaning given by rule 1.1 of the Rules.
Rules means the Rules in the Schedule to the Trust Deed.
Scheme membership has the meaning given by rule 1.1 of the Rules.
service has the meaning given by rule 1.1 of the Rules.
Trust Deed means the Trust Deed dated 12 March 1970 establishing the Woolworths Group Superannuation Scheme, as amended and in force on 22 September 2005.
 (2) For the purpose of applying the formula in item 1 of the table in clause 2 of this Part in relation to an interest, the vesting factor (Fy,s) is:
 (a) if:
 (i) the relevant date is 183 days after the person's most recent birthday; and
 (ii) the date '29 February' occurs within the period of 12 months beginning on that birthday;
  the factor that applies to the person, having regard to the person's age in completed years at his or her most recent birthday; and
 (b) if:
 (i) the relevant date is 183 days after the day the person commenced service or 183 days after the most recent anniversary of the day the person commenced service (as the case requires); and
 (ii) the date '29 February' occurs within the period of 12 months beginning on that commencement day or the most recent anniversary;
  the factor that applies to the person having regard to the person's Scheme membership at the day the person commenced service, or the date of the most recent anniversary of the day the person commenced service (as the case requires).

2 Methods and factors for interests of Members in the Woolworths Group Superannuation Scheme
  For an interest that:
 (a) is in the growth phase in the Woolworths Group Superannuation Scheme; and
 (b) is mentioned in an item in the following table;
the method or factor mentioned in the item is approved for section 5 of this instrument.

Item  Interest in the growth phase                                                             Method or factor