Document ID: chunk:federal_register_of_legislation:C2004A01463:body:0:p21
Version: federal_register_of_legislation:C2004A01463
Segment Type: other
Provision Reference: 
Character Range: 47783–50301

employment, the person has the legal title to a life policy, or is entitled to have the legal title to a life policy assigned to him, being a policy the premiums for which were, while he was employed in that employment, paid in whole or in part by his employer, and, where such a benefit is to be deemed to have become payable, the surrender value of the policy as at the date of the termination of his employment shall be taken to be the amount of that benefit by way of a lump sum.

"(3) In determining, for the purposes of this Part, the number of units of pension (including, where necessary, a fraction of a unit) that will entitle a relevant employee to benefits equivalent to those related to the benefits to which he was entitled under a superannuation scheme, the Board shall disregard—

(a) the provisions of Part Xb;
    (b) the provisions of this Act that authorize the payment, in any circumstances, of benefits to or in relation to the spouse or a dependant of a contributor to the Fund; and

    (c) the rules of the superannuation scheme that authorize the payment, in any circumstances, of benefits to or in relation to the spouse or a dependant of a member of the scheme.

"(4) In the application of a Part of this Act other than this Part to or in relation to a relevant employee—

    (a) a reference in such a Part to an employee as defined by section 4 of this Act shall be read as including a reference to a relevant employee; and

    (a) a relevant employee shall be deemed to have become an employee for the purposes of this Act on the relevant date.

"Division 2—The Superannuation Fund

Definition.
 "100b. In this Division, unless the contrary intention appears, 'prescribed employee' means a relevant employee who has made an election, and a payment to the Board, in accordance with sub-section (2) of section 100c of this Act.

Contributions for pension by relevant employee.
"100c. (1) This Division applies to a relevant employee if the employee was, immediately before he became an employee for the purposes of this Act, a member of a superanuation scheme under which—
    (a) benefits by way of a pension or of a lump sum were payable to a member of the scheme upon the cessation of his employment by reason of his having attained a specified age, being a pension or lump sum the amount of which was related to the salary payable to him immediately before the cessation of his employment;
    (b) benefits by way of a pension or of a lump sum, being benefits that were related to the