Document ID: chunk:federal_register_of_legislation:F2004C00296:body:0:p2
Version: federal_register_of_legislation:F2004C00296
Segment Type: other
Provision Reference: 
Character Range: 3201–5733

of the Fund in debentures

 (1) For the purposes of paragraph (a) of subsection (4) of section 12 of the Act, an investment of moneys of the Fund in a debenture of a kind referred to in paragraph (d) of subsection (2) of that section is permitted if, before making the investment, the Board obtains and considers advice from an expert adviser as to the suitability for the Fund, having regard to the purposes of the Fund, of the proposed investment.

 (2) In subregulation (1), 'expert adviser', in relation to a proposed investment, means a person (including a body corporate) whom the Board, having regard to the competence and experience in financial matters of the person, chooses to give advice to the Board in relation to that proposed investment, but does not include a person who is a member, or a deputy of a member, of the Board or a member of the staff of the Board.

5 Prescribed time for the purposes of section 19 (3)

  Where the salary of an employee or pensioner is increased in circumstances set out in subsection (3) of section 19 of the Act, an election to contribute for additional units of pension shall be made by the employee or pensioner for the purposes of that subsection within twelve months after the date on which his salary is so increased.

6 Manner of ascertaining salary for purposes of section 22

 (1) For the purposes of paragraph (a) of subsection (1) of section 22 of the Act, the salary of an employee who is paid salary at a rate other than an annual rate of salary shall be ascertained, for the purposes of Division 2 of Part III of the Act, by multiplying the weekly rate of salary of the employee by 52.

 (2) In ascertaining the salary of an employee to whom the last preceding subregulation applies:
 (a) subject to the next succeeding paragraph, if the employee is not receiving remuneration at the maximum rate applicable to his office or position, he shall be deemed to be receiving remuneration at that maximum rate; and
 (b) if the employee has not attained the age of twenty-one years and occupies an office or position in respect of which the remuneration varies according to the age of the occupant, the last preceding paragraph does not apply, but, in the case of such an employee who has not attained the age of twenty years, he shall be deemed to be receiving remuneration at the rate that would be applicable to him if he had attained the age of twenty years.

6A Amount specified for the purpose of subsection 22 (1)

  The amount specified for the purpose of subsection