Document ID: chunk:federal_register_of_legislation:C2004A04478:body:0:p23
Version: federal_register_of_legislation:C2004A04478
Segment Type: other
Provision Reference: 
Character Range: 57394–60220

Commissioner, that the benefit or the part of the benefit, as the case may be, need not be preserved or applied under subsection (4A) in order to satisfy the superannuation fund conditions under the Occupational Superannuation Standards Act 1987 as they apply in relation to that benefit.";

   (h) by inserting in subparagraph (6)(b)(i) "or, if the transfer value payable to or in respect of the person does not include such an amount, an amount equal to the notional productivity amount" after "Part VIA";

(i) by adding at the end the following subsection:

   "(8) For the purposes of subparagraphs (2)(c)(i) and (6)(b)(i), the 'notional productivity amount', in relation to a transferred amount or a transfer value, is the amount equal to 3% of so much of a person's earnings as were relevant for the purpose of establishing whether, in relation to the period, or periods, of employment in respect of which the transferred amount or the transfer value, as the case may be, was payable, the employee was an employee in respect of whom one or more employers incurred an individual superannuation guarantee shortfall within the meaning of the Superannuation Guarantee (Administration) Act 1992.".

Public employment

  33. Section 133 of the Principal Act is amended:

  (a) by inserting after subsection (1) the following subsection:

     "(1AA) A declaration under subsection (1) may be expressed to apply only in relation to the employment of a person included in a class of persons specified in the declaration.";

  (b) by inserting after subsection (1C) the following subsection:

      "(1D) If:

        (a)     employment by a person has been declared (whether or not by reference to a class of persons) under subsection (1) to be public employment for the purposes of this Division; and

        (b)     apart from this subsection, employment of persons generally, or of a class of persons, by that person would cease at a particular time to be public employment for the purposes of this Division;

     the Board may, by instrument published in the Gazette, declare that a person, or a person included in a class of persons, who was employed in public employment for the purposes of this Division immediately before that time because of that employment continues to be so employed.";

  (c)     by inserting in subsection (2) "or (1D)" after "subsection (1)";

  (d)    by inserting after subsection (2) the following subsection:

     "(2A) A declaration under this section that is expressed to expire at a specified time ceases to be in force at that time.";

    (e) by omitting subsection (3) and substituting the following subsection:

     "(3) A person is to be taken, for the purposes of this Division, to have been employed in public employment at a particular time if, and only if:

        (a)     the