Document ID: chunk:federal_register_of_legislation:C2017C00101:section:6:p1
Version: federal_register_of_legislation:C2017C00101
Segment Type: section
Provision Reference: s 6 (pt 1/2)
Character Range: 37848–40563

6  When benefit payable
 (1) Subject to subsection (2) and section 5, where an interim arrangement employee:
 (a) ceases to be a qualified employee; or
 (b) in the case of an employee who is employed by an approved authority—ceases to be employed by that authority; or
 (c) in the case of an employee who is not employed by an approved authority—becomes employed by an approved authority;
an interim benefit becomes payable in respect of the person.
 (2) An interim benefit does not become payable in respect of a person where:
 (a) the person takes up different employment as part of an interchange or similar scheme and is expected to resume his or her previous employment; or
 (b) the person is expected to be employed again by the person's employer in the same capacity within 6 months of ceasing that employment and becomes employed again by the person's employer within that period.
 (3) Where:
 (a) an interim benefit is payable in respect of a person because the person retired voluntarily or retired on the ground of permanent incapacity or permanent invalidity; or
 (b) the amount of the benefit is less than $500;
the benefit is payable to the person at the time when the benefit becomes payable in respect of the person.
 (4) Where an interim benefit is payable in respect of a person following the death of the person, the benefit shall be paid to the person's personal representative.
 (5) Where:
 (a) an interim benefit becomes payable in respect of a person otherwise than in the circumstances mentioned in subsection (3) or (4); and
 (b) the person is about to leave Australia permanently;
the benefit is payable to the person.
 (6) Where an interim benefit becomes payable in respect of a person otherwise than in the circumstances mentioned in subsection (3), (4) or (5), the benefit shall be preserved in accordance with subsection (7) until:
 (a) the person retires from the workforce after attaining the age of 55 years;
 (b) the person retires from the workforce before attaining the age of 55 years on the ground of permanent incapacity or permanent invalidity;
 (c) the person leaves Australia permanently;
 (d) the person dies; or
 (e) such other circumstances (if any) as the Australian Securities and Investments Commission approves prevail.
 (7) An interim benefit payable in respect of a person that is required by subsection (6) to be preserved shall:
 (a) be paid to, for preservation in relation to the person:
 (i) a superannuation fund nominated by the person, being a superannuation fund of which the person is, or intends to become, a member and that is required to preserve superannuation benefits in accordance with standards prescribed by regulations under the Superannuation