Document ID: chunk:federal_register_of_legislation:C1963A00102:body:0:p19
Version: federal_register_of_legislation:C1963A00102
Segment Type: other
Provision Reference: 
Character Range: 45016–47774

in respect of reserve units of pension;
            (iii) contributions for units of pension for which he elected to contribute under sub-section (3.) of the last preceding section;
            (iv) contributions for units of pension for which he is required or permitted to contribute as the result of an increase in his salary after the commencement of this section; and
            (v) contributions the payment of which was deferred in pursuance of section seventy-three of the Superannuation Act 1959; and
        (c) a reference to the fortnightly additional contributions payable by a person to the Fund as at any time on or after the date of commencement of this section shall be read as a reference to the amount, if any, by which the fortnightly amount of the contributions payable by him to the Fund at that time exceeds the fortnightly amount of the contributions payable by him to the Fund immediately before that date.
(2.) For the purposes of this section, the annual salary of a contributor shall be ascertained as provided by sub-section (2.) of section thirty-six of the Principal Act as amended by this Act.

(3.) Where—

        (a) a person who was a contributor on the date of commencement of this section—

            (i) was, on that date, not less than fifty-seven years of age; or
            (ii) in the case of a contributor for or in respect of units of pension (including units of pension the obligation to contribute for which arose on that date) all of which are based on a retiring age of sixty years—was, on that date, not less than fifty-two years of age; and

        (b) the fortnightly amount of the contributions payable by him to the Fund exceeds the fortnightly amount of the contributions payable by him to the Fund immediately before that date and also exceeds one-two hundred and sixtieth of his annual salary immediately before that date,
he may, subject to this section, by notice in writing given to the Board on, or within six months after, that date, inform the Board that he wishes to defer payment of his fortnightly additional contributions or such part of those contributions as is specified in the notice.

(4.) Where a contributor gives a notice under the last preceding sub-section—
        (a) payment of his fortnightly additional contributions or of the part of those contributions specified in the notice, as the case may be, (in this sub-section referred to as "the deferred contributions") shall be deferred;
        (b) compound interest at such rate as the Board determines is payable to the Fund upon the deferred contributions;
        (c) the amount of the deferred contributions and interest upon the deferred contributions, or of so much of the deferred contributions and of that interest