Document ID: chunk:federal_register_of_legislation:C2004A03971:section:50:p8
Version: federal_register_of_legislation:C2004A03971
Segment Type: section
Provision Reference: s 50 (pt 8/12)
Character Range: 238261–240751

of each day in the period commencing on the day on which the amount should have been paid and ending on the day immediately before the day when the amount is paid.

Payments of continuing contributions to declared funds

"4f. (1) Subject to this section, the designated employer of a fund employee is to pay into the declared fund of which the employee is a member:

    (a) continuing contributions in respect of the employee in respect of each pay period occurring while the employee is a member of the fund; and

    (b) where a contribution is not paid on the day on which it is payable under subsection (2)—a contribution in respect of the employee of interest, fixed under section 4G in relation to the fund, on the contribution in respect of each day in the period commencing on the day on which the contribution should have been paid and ending on the day immediately before the day when the amount is paid.

"(2) A continuing contribution in respect of a fund employee payable to a fund for a pay period is payable on:

    (a) where there are arrangements between the employer and the trustees of the fund fixing a day for payment—that day; or

    (b) in any other case—the day on which salary for that pay period is payable.

"(3) A designated employer of a fund employee is not required to make a payment of continuing contributions before the first day on which salary is payable to the employee on or after 1 July 1990.

Interest

"4g. For the purposes of sections 4e and 4f, the interest fixed under this section in relation to a fund on a day is the interest calculated in a way determined by the Minister.

Certain employees to become members of nominated fund

"4h. (1) Where the designated employer of an interim arrangement employee becomes aware that the employee is not about to cease to be such an employee by becoming a member of an approved fund or otherwise, the employer must pay into the nominated fund the contribution that would be required to be paid in respect of the employee under paragraph 4e (a) if the employee had become a member of the fund on the day of payment, and, where the employer does so, the employee becomes a member of the fund.

"(2) Where a superannuation fund ceases to be an approved fund, a fund employee who is a member of that fund becomes a member of the nominated fund unless he or she has elected to be a member of another approved fund.

"(3) Where a fund employee revokes his or her election to be a member of an approved fund