Document ID: chunk:federal_register_of_legislation:C1965A00097:body:0:p36
Version: federal_register_of_legislation:C1965A00097
Segment Type: other
Provision Reference: 
Character Range: 86555–89307

calculation of the surplus, to apply in relation to pensioners generally and in relation to the class of pensioners in which the pensioner was included; and
             (iv) the rates of interest that it was assumed, for the purposes of the calculation of the surplus, would be earned by the assets of the Fund.

Payments of shares of surplus to individual contributors and pensioners.
63.—(1.) As soon as practicable after the determinations in respect of eligible contributors and eligible pensioners have been made under the last two preceding sections, an amount equal to—
       (a) in the case of an eligible contributor or an eligible pensioner to or in respect of whom a payment has been made under the next succeeding section, the sum of—
             (i) the amount to which the contributor or pensioner is entitled under the determination made under section 61 or section 62 of this Act reduced by the amount of the payment made under the next succeeding section;
             (ii) the amount that, if the contributor or pensioner were entitled to receive compound interest on the amount of the payment made under the next succeeding section calculated at the specified rate in respect of the period from and including the first day of July, One thousand nine hundred and sixty-two, to and including the date on which the Treasurer authorized the payment to be made, would be the amount of that interest; and
             (iii) the amount that, if the contributor or pensioner were entitled to receive compound interest on the amount ascertained in accordance

             with sub-paragraph (i) of this paragraph calculated at the specified rate in respect of the period from and including the first day of July, One thousand nine hundred and sixty-two, to and including a date to be fixed by the Treasurer by notice published in the Gazette, would be the amount of that interest; or
       (b) in any other case, the sum of—
             (i) the amount to which the contributor or pensioner is entitled under the determination made under section 61 or section 62 of this Act, as the case may be; and
             (ii) the amount that, if the contributor or pensioner were entitled to receive compound interest on the amount referred to in the last preceding sub-paragraph calculated at the specified rate in respect of the period from and including the first day of July, One thousand nine hundred and sixty-two, to and including the date fixed under sub-paragraph (iii) of the last preceding paragraph, would be the amount of that interest,
shall be paid out of the Superannuation Fund—
       (c) to the contributor or pensioner; or
       (d) if the contributor or pensioner is dead—to the widow of the contributor or pensioner or, if