Document ID: chunk:federal_register_of_legislation:C1965A00097:body:0:p37
Version: federal_register_of_legislation:C1965A00097
Segment Type: other
Provision Reference: 
Character Range: 89063–91677

paragraph, would be the amount of that interest,
shall be paid out of the Superannuation Fund—
       (c) to the contributor or pensioner; or
       (d) if the contributor or pensioner is dead—to the widow of the contributor or pensioner or, if there is no such person at the time of payment, to such person (if any) as the Superannuation Board determines.
(2.) For the purposes of the last preceding sub-section, the specified rate is, in respect of any period being a financial year or a part of a financial year, such rate of interest as is determined by the Treasurer in respect of that financial year or, if the Treasurer has not determined a rate of interest in respect of that financial year, the rate of interest determined by the Treasurer in respect of the last preceding financial year in respect of which the Treasurer has determined a rate of interest.
(3.) In determining a rate of interest in respect of a financial year for the purposes of sub-section (1.) of this section, the Treasurer shall have regard to the average rate of interest that was earned by the Fund in that financial year and to such other matters as he thinks relevant.

Payments on account of shares of surplus.
64. The Treasurer may authorize the payment out of the Superannuation Fund to or in respect of an eligible contributor or an eligible pensioner of an amount ascertained as the Treasurer, after receiving advice from the actuary, determines on account of the amount to which the contributor or pensioner is entitled under the determination made under section 61 or section 62 of this Act.

Part IV.—Miscellaneous.

Interpretation.
65.—(1.) For the purposes of this Part, the specified rate is, in respect of any period, the rate of interest that is the specified rate in respect of that period for the purposes of sub-section (1.) of section 63 of this Act.
(2.) Expressions used in this Part that are also used in the Superannuation Act 1922-1965 have in this Part, unless the contrary intention appears, the same respective meanings as they have in that Act.

Reductions in rates of contributions to Superannuation Fund to take effect from 1 July, 1962.
66. The amendments made by section 12, by paragraph (a) of section 13, by paragraph (b) of section 15 and by sections 43, 56, 57 and 58 of this Act shall be deemed to have taken effect on the first day of July, One thousand nine hundred and sixty-two.

Reductions in certain contributions paid or payable on or after 1 July, 1962.
67.—(1.) The Board may, after receiving advice in writing from an actuary, make such reductions in the rates of contribution payable