Document ID: chunk:federal_register_of_legislation:C2004A04769:body:0:p5
Version: federal_register_of_legislation:C2004A04769
Segment Type: other
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Character Range: 11408–14294

the death of that person; or

       (iv) paid or payable to:

             (A) a spouse of the deceased person; or

             (B) a child or children of the deceased person or of a spouse, or former spouse, of the deceased person;";

  (d) by inserting after subsection (2) the following subsection:

    "(2A) If the amount referred to in subparagraph (2)(b)(i) is equal to the amount referred to in subparagraph (2)(b)(ii), paragraph (2)(b) has effect as if the amount referred to in subparagraph (2)(b)(i) were greater than the amount referred to in subparagraph (2)(b)(ii).".

Re-election to the Parliament

  9. Section 20 of the Principal Act is amended:

  (a) by inserting before subsection (1) the following subsection:

       "(1A) In this section:

     'eligible lump sum amount' means:

        (a) a refund of contributions or a payment of the whole or a part of the Commonwealth supplement, or both; or

      (b) the superannuation guarantee safety-net amount.";

    (b) by omitting from subsection (1) "amount being a refund of contributions or a payment of the whole or a part of the Commonwealth supplement, or both," and substituting "eligible lump sum amount".

Members who pay to Commonwealth transfer values received from previous employment

  10. Section 22Q of the Principal Act is amended:

    (a) by omitting subsection (5) and substituting the following subsection:

       "(5)  If:

         (a) a refund of the whole or any part of the contributions paid by the member to the Commonwealth, together with the whole or any part of the Commonwealth supplement, is payable to or in respect of the member; or

         (b) the superannuation guarantee safety-net amount is payable to or in respect of the member;

    the sum of the following amounts is payable to or in respect of the member by the Commonwealth:

         (c) so much of the amount paid to the Commonwealth under subsection (1) as is equal to the employer component of the transfer value or the sum of the employer components of the transfer values, as the case may be;

         (d) the interest that would have accrued on the amount worked out under paragraph (c) if it were assumed that:

           (i) the amount had been a member contribution made under the superannuation scheme established by deed under the Superannuation Act 1990; and

           (ii) interest on that contribution had accrued in accordance with determinations by the Commonwealth Superannuation Board of Trustees No. 1 under that scheme as to rates of interest and the method of allocating interest; and

           (iii) no interest on that contribution had accrued during any period when the member was not entitled to a parliamentary allowance; and

           (iv) if the amount paid to the Commonwealth under subsection (1) was so paid before 1 July 1992—that contribution was made on 1 July 1992.";