Document ID: chunk:federal_register_of_legislation:C2004A04478:body:0:p10
Version: federal_register_of_legislation:C2004A04478
Segment Type: other
Provision Reference: 
Character Range: 23481–26196

relevant period of employment;

'GBB' is the benefit paid or payable from the government body scheme in respect of the person for the person's relevant period of employment together with, except where the person ceases to be both a member of the government body scheme and an eligible employee, notional interest on that benefit;

'TR' is the percentage figure representing the rate of fund contribution tax applicable to the relevant period of employment;

'GBPROD' is the total of:

    (a)     that part of the amount that has been paid to the Commissioner under section 110MA in respect of the person for the person's relevant period of employment less the amount in the nature of income tax (if any) that is relevant to that amount; and

  (b)     interest on the paid amount referred to in paragraph (a).

"(5) In determining the benefit paid or payable from a government body scheme in respect of a person, the Commissioner may accept a statement from the trustees, the administrator on behalf of the trustees or, if there are no trustees, the administrator of the government body scheme as to:

  (a)     the amount of benefit paid or payable; or

  (b)     the date on which it was paid or is payable; or

    (c)     the period in respect of which the benefit was paid or is payable; or

    (d)     rates of interest applicable to amounts of money paid to the scheme; or

  (e)     any other matter in connection with the payment of the benefit.

Application of formulae

"62C. If a single application of a formula set out in section 62B cannot properly be made for the whole of a person's relevant period of employment because of a change in the person's employment, the rate of fund contribution tax or any other thing:

    (a)     that period is to be broken up into such separate periods as is appropriate for the proper application of such a formula in respect of each such period; and

    (b)     the resulting amounts (including negative amounts) are to be aggregated in respect of the whole of the person's period of actual contributory service.".

19. After section 80 of the Principal Act the following section is inserted in Division 5 of Part V:

Procedure where pension exceeds reasonable benefit limits

"80A.(1) This section applies where the Insurance and Superannuation Commissioner:

  (a) makes:

         (i) a determination under subsection 15K(1) of the Occupational Superannuation Standards Act 1987 ('the OSS Act') that a pension payable to a person under this Act exceeds the reasonable benefit limits within the meaning of the OSS Act; or

         (ii) an interim determination under section 15L of the OSS Act in relation to such a pension that has effect as if it were such