Document ID: chunk:federal_register_of_legislation:C2004A03334:body:0:p3
Version: federal_register_of_legislation:C2004A03334
Segment Type: other
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Character Range: 5194–7808

the Principal Act is amended by adding at the end the following sub-section:
"(2) In ascertaining for the purposes of sub-section (1), in relation to a reclassification that has effect on or after 10 October 1986, the rate at which a pension would have been payable to a person at the commencement of the prescribed year that commenced on 1 July 1986, the prescribed percentage for the purposes of section 84 in relation to that prescribed year shall, notwithstanding any other provision of this Act, be deemed to be 7.2%.".

Commutation of pension benefits during a prescribed year
9. Section 84f of the Principal Act is amended by adding at the end the following sub-section:
"(3) In ascertaining for the purposes of sub-section (2), in relation to the commutation of a pension on or after 10 October 1986, the rate at which a pension would have been payable to a person at the commencement of the prescribed year that commenced on 1 July 1986, the prescribed percentage for the purposes of section 84 in relation to that prescribed year shall, notwithstanding any other provision of this Act, be deemed to be 7.2%.".
10. After section 84f of the Principal Act the following section is inserted in Part VId:

Adjustment of increased rate
"84g. (1) Notwithstanding any other provision of this Act (other than section 84e in its operation in relation to a reclassification that has effect in the period commencing on 10 October 1986 and ending on 30 June 1987 and section 84f in its operation in relation to the commutation of portion of a pension in that period), where, because of the operation of another provision of this Part in relation to the prescribed year that commenced on 1 July 1986, the rate at which, but for this sub-section, a pension would be payable on 10 October 1986 is higher than it would have been but for the operation of that provision of this Part, the rate at which that pension is

payable is decreased, with effect from and including 10 October 1986, by the difference between the first-mentioned rate and the rate that would have been the first-mentioned rate if the prescribed percentage for the purposes of section 84 in relation to that prescribed year had been 7.2%.
"(2) Where a pension would, but for its suspension under section 53b, have been payable to a person on 10 October 1986, that pension shall, for the purposes of sub-section (1), be deemed to have been payable to that person on that day.".

PART IV—AMENDMENTS OF THE SUPERANNUATION ACT 1922

Principal Act
11. The Superannuation Act 19223 is in this Part referred to as the Principal Act.

Modification of sections