Document ID: chunk:federal_register_of_legislation:C2006C00163:clause:1_154
Version: federal_register_of_legislation:C2006C00163
Segment Type: clause
Provision Reference: sch 1 cl 154
Character Range: 79189–81801

154  Subsection 3(1)
Insert:

accumulated performance pay employee contributions, in relation to a person, means the sum of:
 (a) an amount equal to the difference between:
 (i) the sum of the amounts paid into a declared fund (within the meaning of the Superannuation (Productivity Benefit) Act 1988) in respect of the person under paragraph 11(1)(a) of the Superannuation (Productivity Benefit) Alternative Arrangements Declaration No. 6 (Statutory Rules 1993, No. 34); and
 (ii) the sum of any amounts deducted by way of charges or fees from those amounts by the trustee of the fund; and
 (b) interest on the amount mentioned in paragraph (a).

accumulated performance pay employer contributions, in relation to a person, means the sum of:
 (a) an amount equal to the difference between:
 (i) the sum of the amounts paid into a declared fund (within the meaning of the Superannuation (Productivity Benefit) Act 1988) in respect of the person under paragraph 11(1)(b) of the Superannuation (Productivity Benefit) Alternative Arrangements Declaration No. 6 (Statutory Rules 1993, No. 34); and
 (ii) the sum of any amounts in the nature of income tax relevant to those amounts and any amounts deducted by way of charges or fees from those amounts by the trustee of the fund; and
 (b) interest on the amount mentioned in paragraph (a).

employer component, in relation to a benefit payable in respect of a person under Part VIAB, means that part of the benefit that is payable because of:
 (a) the accumulated performance pay employer contributions of the person; and
 (b) if the person's transferable productivity amount was paid to the Board under section 110SL or was paid first to the trustee of another superannuation entity and then an amount in respect of that transferable productivity amount was paid under section 110SL by that trustee to the Board—the person's transferable productivity amount.

superannuation entity has the same meaning as in the SIS Act.

transferable productivity amount, in relation to a person whose continuing contributions (within the meaning of the Superannuation (Productivity Benefit) Act 1988) are, or were, held in a declared fund (within the meaning of that Act), means the sum of:
 (a) an amount equal to the difference between:
 (i) the sum of the continuing contributions paid into the declared fund; and
 (ii) the sum of any amounts in the nature of income tax relevant to those contributions and any amounts deducted by way of charges or fees from those contributions by the trustee of the declared fund; and
 (b) interest on the amount mentioned in paragraph (a).