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(3) to serve a copy of the guidelines as so amended or varied on an employer of persons not affected by the amendment or variation.".

PART 5—AMENDMENTS OF THE SUPERANNUATION (PRODUCTIVITY BENEFIT) ACT 1988

Principal Act

81. In this Part, "Principal Act" means the Superannuation (Productivity Benefit) Act 19884.

Interpretation

  82. Section 3 of the Principal Act is amended:

     (a)     by omitting "the Superannuation Act" from paragraph (d) of the definition of "qualified employee" in subsection (1) and substituting "the Superannuation Act or the new Superannuation Act";

   (b)    by inserting in subsection (1) the following definitions:

     " 'Board' has the same meaning as in the new Superannuation Act;

     'Fund' has the same meaning as in the new Superannuation Act;".

83. After section 4e of the Principal Act the following section is inserted:

Payments of equivalent benefit to Board

"4ea. Where an interim arrangement employee becomes a scheme employee, his or her designated employer must pay to the Board:

    (a)     a contribution in respect of the employee equal to the amount of the interim benefit that would have been payable in respect of the employee if he or she had ceased to be a qualified employee on the day immediately before the day on which he or she became a scheme employee; and

    (b)     where that amount is not paid on the day on which he or she becomes a scheme employee—a contribution in respect of the employee of interest, fixed under section 4g in relation to the Fund, on the amount in respect 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.".

Interest

84. Section 4g of the Principal Act is amended by inserting at the end the following subsection:

"(2) For the purpose of section 4ea, the interest fixed under this section in relation to the Fund on a day is the interest calculated in a way determined by the Minister.".

NOTES

   1. No. 31, 1976, as amended. For previous amendments, see No. 51, 1976; No. 80, 1977; Nos. 17, 134, 169 and 170, 1978; Nos. 52 and 155, 1979; No. 177, 1980; No. 92, 1981; No. 92, 1983; Nos. 63 and 165, 1984; Nos. 80, 93, 151 and 153, 1986; No. 141, 1987; Nos. 38 and 130, 1988; Nos. 71, 97 and 125, 1989; and No. 40, 1990.

 2.  No. 38, 1990.

 3.  No. 39, 1990.

   4. No. 70, 1988, as amended. For previous amendments, see No. 130, 1988; and No. 40, 1990.

     [Minister's second reading speech made in—
     House of Representatives on 29 May 1991
     Senate on 6 June 1991]