Document ID: chunk:federal_register_of_legislation:C2004A04205:body:0:p26
Version: federal_register_of_legislation:C2004A04205
Segment Type: other
Provision Reference: 
Character Range: 65313–68228

of:

                 (i) the amount of any productivity related benefit within the meaning of Part VIa and interest on that amount; and

                  (ii) the amount of the person's accumulated employer contributions (if any) included in a transfer value (if any) that was payable to the person under Division 3 of Part IX and interest on that amount;

             must be paid by the Commissioner into the Superannuation Fund, and, for the purposes of this Act, the amount so paid is taken to be productivity contributions within the meaning of Part VIa.";

    (b) by omitting paragraph (6) (b) and substituting the following paragraph:

          "(b) the employer component of a transfer value payable to or in respect of a person is the part of that transfer value that was based upon contributions by an employer or employers of the person other than:

              (i) an amount that was a productivity related benefit within the meaning of Part VIa; or

             (ii) an amount that was the person's accumulated employer contributions included in a transfer value that was payable under Division 3 of Part IX to the person.".

44. After section 128 of the Principal Act the following section is inserted:

Payment to Commissioner under section 6a of the Superannuation Act 1990

  "128aa. (1) Where:

     (a)     a person becomes an eligible employee by making an election under section 6a of the Superannuation Act 1990; and

     (b)    the person's accumulated funded contributions are paid to the Commissioner under subsection 6a (4) of that Act;

the Commissioner must pay an amount equal to the person's accumulated funded contributions into the Superannuation Fund.

"(2) There is to be added to the period that, apart from this subsection, would be the person's period of contributory service, a period equal to:

    (a)     the period during which the person was a member of the Superannuation (1990) Scheme; or

    (b)    such lesser period as is determined by the Commissioner, in writing, having regard to any time during which the person was engaged in part-time employment or was on leave of absence without pay.

"(3) The Commissioner is to determine those parts of the amount so paid into the Superannuation Fund that, for the purposes of this Act, are to be regarded as:

  (a)     the person's accumulated basic contributions; and

  (b)     the person's accumulated supplementary contributions; and

  (c)     the person's productivity contributions.".

Interpretation

  45. Section 131 of the Principal Act is amended:

    (a) by omitting subparagraph (c) (ii) of the definition of "former eligible employee with benefits from previous employment" in subsection (4) and substituting the following subparagraph:

         "(ii) to whom, immediately before becoming an eligible employee, a pension of a kind mentioned in section 64a or 65 of the superseded Act as in force