Document ID: chunk:federal_register_of_legislation:C2004A01463:body:0:p19
Version: federal_register_of_legislation:C2004A01463
Segment Type: other
Provision Reference: 
Character Range: 42717–45452

Commissioner for Superannuation)";
    (c) by omitting from sub-section (8) the words "Provident Account" (first occurring) and substituting the words "Commissioner for Superannuation"; and
    (d) by omitting sub-section (10) and substituting the following sub-section: —
    "(10) The Commissioner for Superannuation shall pay amounts paid to him under sub-section (8) of this section into the new Superannuation Fund, and an amount, or the sum of the amounts, paid to the Commissioner for Superannuation under that sub-section in respect of an amount paid to a person under section 82 of this Act and paid by the Commissioner into the new Superannuation Fund shall, to the extent that it exceeds the difference between the amount so paid to the person and the amount paid out of the Consolidated Revenue Fund in respect of the amount so paid to the person, be paid from the new Superannuation Fund into the Consolidated Revenue Fund.".

Payment to other person.
57. Section 89 of the Principal Act is amended by omitting the word "Board" (wherever occurring) and substituting the words "Commissioner for Superannuation".

Rate of interest.
58. Section 90 of the Principal Act is amended by adding at the end thereof the following sub-section: —

"(5) Sub-section (4) of this section does not apply to the making of a regulation prescribing the rate of interest in respect of the financial year ending on 30 June 1976, but the Governor-General shall not make such a regulation unless the Superannuation Fund Investment Trust has furnished a report to the Treasurer specifying—
    (a) the average rate of interest that is determined by the Trust to have been earned by the Fund in that financial year; and

    (b) the rate of interest that, in the opinion of the Trust, should, having regard to the average rate of interest and to such other matters as the Trust thinks relevant, be prescribed in respect of that financial year.".

Payments out of Consolidated Revenue Fund to Provident Account.
59. Section 92 of the Principal Act is amended by adding at the end thereof the following sub-section:—

"(3) This section does not have effect on and after 1 July 1976".

Certain amounts to be paid out of Consolidated Revenue Fund to Superannuation Fund.
60. Section 98 of the Principal Act is amended by adding at the end thereof the following sub-section:—

"(2) This section does not have effect on and after 1 July 1976".

Increased contributions out of Consolidated Revenue Fund.
61. Section 99 of the Principal Act is amended by adding at the end thereof the following sub-section:—

"(2) This section does not have effect on and after 1 July 1976".

62. After Part VI of the Principal Act the following Part is inserted:—

"PART