Document ID: chunk:federal_register_of_legislation:C2017C00101:section:3:p1
Version: federal_register_of_legislation:C2017C00101
Segment Type: section
Provision Reference: s 3 (pt 1/7)
Character Range: 3581–6178

3  Interpretation
 (1) In this Act, unless the contrary intention appears:
anniversary of birth has the same meaning as in the Superannuation Act.
annual rate of contribution, in relation to a qualified employee, means:
 (a) for the year commencing on 1 January 1988:
 (i) if the employee's annual rate of salary is less than $19,934—$299;
 (ii) if the employee's annual rate of salary is $19,934 or more but less than $31,201—1.5% of the person's annual rate of salary;
 (iii) if the employee's annual rate of salary is $31,201 or more but less than $46,801—$468; or
 (iv) if the employee's annual rate of salary is $46,801 or more—1% of the person's annual rate of salary; and
 (b) for each subsequent year—the amount prescribed by, or ascertained in accordance with, the regulations.
annual rate of salary, in relation to a qualified employee in relation to a particular day, means:
 (a) if the person is an eligible employee for the purposes of the Superannuation Act—the rate that would be the person's final annual rate of salary for the purposes of that Act if the person had ceased to be such an eligible employee on that day; or
 (b) in any other case—the rate that would be the annual rate of salary of the person under that Act on that day if that Act applied to the person.
approved authority means an authority or body that is an approved authority for the purposes of the Superannuation Act or the new Superannuation Act.
approved deposit fund has the same meaning as in the Superannuation Industry (Supervision) Act 1993.
approved fund means a superannuation fund that is an approved fund because of a declaration in force under section 4C.
average annual rate of contribution, in relation to a person in respect of whom an interim benefit is payable in relation to the year commencing on 1 January 1988 or a subsequent year, means half of the sum of:
 (a) the annual rate of contribution of the person based on the person's annual rate of salary at the commencement of that year or at the commencement of the person's service relevant to that interim benefit, whichever is the later; and
 (b) the annual rate of contribution of the person based on the person's annual rate of salary at the end of that year or, if the interim benefit became payable in respect of the person in that year, immediately before the day on which the interim benefit became payable.
class employee means a qualified employee in a class in respect of which a declaration is in force under section 4A.
continuing contribution, in relation to a fund employee, has the meaning given by section 3C.
CSC (short