Document ID: chunk:federal_register_of_legislation:C2004A04879:body:0:p2
Version: federal_register_of_legislation:C2004A04879
Segment Type: other
Provision Reference: 
Character Range: 2473–5208

of parliamentary allowance payable to a member;

SCHEDULE—continued

'Parliamentary allowance at retirement date' means the annual amount, at the date on which the member concerned most recently retired from the Parliament, of parliamentary allowance payable to a member.

"(1AE) If a person does not enter into a contract under subsection (1AA), the Trust must not, for the purposes of determining the person's rights to further benefits under this Act, take into account:

    (a) any part of the member's period of service; or

    (b) any occasion when he or she ceased to be a member; before the person became entitled to the eligible lump sum amount.".

3. Transitional

(1) This item applies in relation to an eligible lump sum amount received by a person before the commencement of this item if:

    (a) the person has again become a member after the receipt of the eligible lump sum amount and is a member at the commencement of this item; and

    (b) before the commencement of this item, the person had not entered into a contract with the Trust under subsection 20(1) of the Principal Act; and

    (c) immediately before the commencement of this item, the person was not entitled to enter into a contract with the Trust under subsection 20(1) of the Principal Act.

(2) If this item applies in relation to an eligible lump sum amount received by a person:

    (a) the person may enter into a contract with the Trust, in the manner required by the Trust, within 3 months after the commencement of this item, to repay to the Commonwealth, within 3 years after he or she again became a member, the repayment amount provided in subsection 20(1AD) of the amended Act; and

    (b) if the person enters into a contract referred to in paragraph (a), subsection 20(1AB) of the amended Act does not apply in relation to the eligible lump sum amount.

(3) Subsection 20(1AE) of the amended Act applies as if the reference in that subsection to a contract under subsection (1AA) of that section included a reference to a contract made under paragraph (2)(a) of this item.

(4) In this item:

"amended Act" means the Principal Act as amended by this Act;

"eligible lump sum amount" has the same meaning as in subsection 20(1A) of the Principal Act;

SCHEDULE—continued

"Principal Act" means the Parliamentary Contributory Superannuation Act 1948.

4. Application

The amendments made by this Schedule apply in relation to contracts with the Trust entered into after the commencement of this item.

PART 2—SUPERANNUATION LAWS AMENDMENT ACT 1994

5. Paragraph 7(b):

Omit "(2AA)", substitute "(2AAA)".

[Minister's second reading speech made in—
    House of Representatives on 9 February 1995
    Senate on 27 February 1995]