Document ID: chunk:federal_register_of_legislation:C1971A00046:body:0:p42
Version: federal_register_of_legislation:C1971A00046
Segment Type: other
Provision Reference: 
Character Range: 97127–99641

and the commencement of a further period in which he was employed in public employment shall not be treated as itself being a period in which he was employed in public employment.

Eligible superannuation schemes.
"119r.—(1.) The Treasurer may, by instrument under his hand published in the Gazette, declare a superannuation scheme specified in the instrument to be an eligible superannuation scheme for the purposes of this Division.

"(2.) A declaration under the last preceding sub-section shall come into force on the day on which the instrument of declaration is published in the Gazette or, if an earlier day (not being earlier than the first day of January, One thousand nine hundred and seventy) is specified in the instrument as the day on which the declaration is to be deemed to have come into force, shall be deemed to have come into force on that earlier day.
"(3.) A person shall be taken, for the purposes of this Division, to have been a member of an eligible superannuation scheme at a particular time if, and only if, he was at that time a member of a superannuation scheme in respect of which a declaration by the Treasurer under this section was, or is to be deemed to have been, in force at that time.

Transfer value.
"119s.—(1.) A reference in this Division to a transfer value payable in accordance with this Division to or in respect of a person who has ceased to be a contributor to the Fund or to the Provident Account is a reference to such amount as is determined by the Board to be the value of the rights of the person under this Act as at the time immediately before he ceased to be such a contributor.
"(2.) In furnishing advice to the Board in relation to the determination of the value of the rights of a person under this Act as at the time immediately before he ceased to be a contributor to the Fund or to the Provident Account, an actuary shall have regard to actuarial principles and practice and shall take into account all relevant matters, including—
     (a) the contributions to the Fund or to the Provident Account made by the person;
     (b) in the case of a person who was a contributor to the Fund, the payments to the Fund that would have been made by the Commonwealth if—
          (i) on each occasion on which the person was required to pay an amount of contributions to the Fund in respect of units of pension (other than reserve units of pension), the Commonwealth had paid to the Fund an amount equal to two and one-half times the amount that the person was