Document ID: chunk:federal_register_of_legislation:C2004A04769:body:0:p3
Version: federal_register_of_legislation:C2004A04769
Segment Type: other
Provision Reference: 
Character Range: 5943–8894

respect of the person if it were assumed that:

      (i) the only capacity in which the person was, or had ever been, an employee of the Commonwealth (within the meaning of the Superannuation Guarantee (Administration) Act 1992) were the person's capacity as a member (see subsection 12(4) of that Act); and

      (ii) the scheme constituted by the provisions of this Act did not exist; and

      (iii) those contributions were made on a monthly basis;

  (d) the interest that would have accrued on the contributions covered by paragraph (c) if it were assumed that:

      (i) the contributions had been member contributions made under the superannuation scheme established by deed under the Superannuation Act 1990; and

      (ii) interest on those contributions had accrued in accordance with determinations by the Commonwealth Superannuation Board of Trustees No. 1 under that scheme as to rates of interest and the method of allocating interest; and

      (iii) no interest on those contributions had accrued during any period when the person was not entitled to a parliamentary allowance;

(e) if:

      (i) the person was entitled to a parliamentary allowance at all times since the end of 30 June 1992; and

      (ii) an amount (the 'lump sum amount') would have been payable to the person under subsection 18(4) if it were assumed that the person had retired voluntarily at the end of 30 June 1992;

   the sum of the following amounts:

      (iii) the lump sum amount;

      (iv) the interest that would have accrued on the lump sum amount if it were assumed that:

            (A) the lump sum amount had been a member contribution made on 1 July 1992 under the superannuation scheme established by deed under the Superannuation Act 1990; and

            (B) interest on the contribution had accrued in accordance with determinations by the Commonwealth Superannuation Board of Trustees No. 1 under that scheme as to rates of interest and the method of allocating interest.

Refund of contributions

"(2) For the purposes of this Act, if a superannuation guarantee safety-net amount is paid to a person, so much of that amount as is attributable to the person's contributions is taken to be a refund of the contributions.

Definitions—superannuation guarantee charge

  "(3) In this section:

'complying superannuation fund or scheme' has the same meaning as in the Superannuation Guarantee (Administration) Act 1992;

'individual superannuation guarantee shortfall' has the same meaning as in the Superannuation Guarantee (Administration) Act 1992.".

Benefits to members

  7. Section 18 of the Principal Act is amended:

    (a) by omitting paragraph (2)(b) and substituting the following paragraph:

      "(b) in any other case—the greater of the following:

           (i) a refund of his or her contributions together with a payment of the Commonwealth supplement;

           (ii) the superannuation guarantee safety-net