Document ID: chunk:federal_register_of_legislation:C2004A01463:body:0:p38
Version: federal_register_of_legislation:C2004A01463
Segment Type: other
Provision Reference: 
Character Range: 87243–89812

as a reference to the number of units of pension ascertained by subtracting from the number of units of pension for which he would, but for this section and for that Division, be required to contribute to the Fund the number of units of pension determined by the Board for the purpose of sub-section (2) of this section.

"Division 3—The Provident Account

Definition.
"107l. In this Division, unless the contrary intention appears, 'prescribed employee' means a State employee who has made an election, and a payment to the Board, in accordance with sub-section (2) of section 107m of this Act.

Provident Account contributions by State employees.
"107m. (1) This section applies to a State employee whose contributions to the State Fund were of a similar nature to contributions under this Act to the Provident Account.

"(2) A State employee to whom this section applies may elect, within 3 months after the relevant date or within such further period as the Board allows, to contribute to the Provident Account in accordance with this section and may pay to the Board an amount equal to the prescribed amount within that period or within such further period as the Board allows, but any election made after the pay-day last preceding 1 July 1976 shall be deemed to have been made on that pay-day.

"(3) Notwithstanding section 5 of this Act, a prescribed employee shall be liable to make, and, from and including the relevant date, shall be deemed to have been liable to make, contributions to the Provident Account in accordance with Part V.

"(4) Upon the payment by a prescribed employee to the Board under sub-section (2) of this section of an amount equal to the prescribed amount—

    (a) an amount equal to so much of the prescribed amount as was based upon the contributions made by him to the State Fund or on interest payable in respect of those contributions shall be paid by the Board to the Provident Account, or, on or after 1 July 1976, to the new Superannuation Fund, and, when so paid, shall be deemed, for the purposes of this Act, to be contributions paid to the Provident Account by the employee; and
    (b) an amount equal to so much of the prescribed amount as was not so based shall be paid by the Board to the Consolidated Revenue Fund.

"(5) Where a sum is payable under section 82 or 83 of this Act to or in relation to a prescribed employee, that section shall be read as if the sum referred to in sub-section (1) of that section were the sum calculated by adding an amount equal to 3 times the aggregate of—

    (a) the contributions