Document ID: chunk:federal_register_of_legislation:C2004A04769:body:0:p7
Version: federal_register_of_legislation:C2004A04769
Segment Type: other
Provision Reference: 
Character Range: 16699–19615

retires from the workforce before reaching the age of 55 years on the ground of permanent incapacity or permanent invalidity;

          (C) the person leaves Australia permanently;

          (D) the person dies;

            (E) such other circumstances (if any) as the Insurance and Superannuation Commissioner approves;

     the life insurance company or the registered organisation, as the case requires, in respect of the purchase of the deferred annuity; or

  (d) in any other case—an approved deposit fund nominated by the Trust.

Preserved benefits taken to have been received

"(5) For the purposes of this Act (other than this section), if an amount is paid to a fund, a life insurance company or a registered organisation under subsection (4), the person concerned is taken to have received the amount.

Definitions

  "(6) In this section:

'approved deposit fund' has the same meaning as in the Superannuation Industry (Supervision) Act 1993;

'dependant' has the same meaning as in the Superannuation Industry (Supervision) Act 1993;

'life insurance company' has the same meaning as in the Superannuation Industry (Supervision) Act 1993;

'registered organisation' has the same meaning as in the Superannuation Industry (Supervision) Act 1993;

'regulated superannuation fund' has the same meaning as in the Superannuation Industry (Supervision) Act 1993.".

Division 3—Amendments relating to invalidity

Object

12. The object of this Division is to provide for a new system of invalidity benefits.

Interpretation

  13. Section 4 of the Principal Act is amended:

  (a) by inserting in subsection (1) the following definitions:

     " 'class 1 invalid' means a person who is classified by the Trust as a class 1 invalid under Part V;

     'class 2 invalid' means a person who is classified by the Trust as a class 2 invalid under Part V;

     'class 3 invalid' means a person who is classified by the Trust as a class 3 invalid under Part V;

     'medical practitioner' means a person registered as a medical practitioner under a law of a State or Territory;

     'non-parliamentary employment' means any employment, profession or paid occupation, other than as a member;";

  (b) by adding at the end the following subsection:

     "(6) For the purposes of this Act, if a person ceases to be entitled to a parliamentary allowance, the cessation is taken to be an invalidity retirement if, and only if, the Trust makes a determination under section 15A in relation to that cessation.".

Insertion of new section

14. After section 4C of the Principal Act the following section is inserted:

Incapacity

"4D. In determining the percentage of a person's incapacity in relation to non-parliamentary employment, the Trust or a medical practitioner, as the case may be, must have regard to all relevant matters, including, but not limited to, the following:

     (a) the vocational, trade and