Document ID: chunk:federal_register_of_legislation:C2022C00264:clause:11_186:p1
Version: federal_register_of_legislation:C2022C00264
Segment Type: clause
Provision Reference: sch 11 cl 186 (pt 1/3)
Character Range: 744636–747217

186  Existing contributors under 40 years of age contributing less than 5% of salary
 (1) A reference in subsection (3), (5), (6) or (9) to the notional basic contribution applicable to an existing contributor on a particular day shall be read as a reference to the amount that would, but for subsection (2) or (4), be the amount of his or her basic contribution on that day.
 (2) Where the amount of the previous contribution (excluding contribution for reserve units) of an existing contributor who has not attained the age of 40 years on the commencing day is less than four‑fifths, but not less than three‑fifths, of the amount that, but for this subsection, would be the amount of the basic contribution required to be made by him or her on the first contribution day, section 46 applies in relation to him or her in respect of each contribution day occurring before or on the anniversary of his or her birth next following the commencing day as if:
 (a) the reference in section 46 to 5 per centum were a reference to 4 per centum; and
 (b) the reference in that section to 10 cents were a reference to 8 cents.
 (3) Where an existing contributor referred to in subsection (2) makes an election under subsection 48(1) before the anniversary of his or her birth next following the commencing day, then, for the purpose of calculating the amount of the supplementary contribution payable by the contributor on a contribution day occurring before or on that anniversary:
 (a) section 49 has effect as if the reference in that section to the basic contribution payable by the contributor on a contribution day were a reference to the notional basic contribution applicable to him or her on that day; and
 (b) if the factor specified in the election is 5 and the contributor requests in the election that this paragraph apply in relation to the election—the election shall, for the purposes of section 49, be treated as if the factor specified in the election were 6.
 (4) Where the amount of the previous contribution (excluding contribution for reserve units) of an existing contributor who had not attained the age of 40 years on the commencing day is less than three‑fifths of the amount that, but for this subsection, would be the amount of the basic contribution required to be made by him or her on the first contribution day:
 (a) section 46 applies in relation to him or her in respect of each contribution day occurring before or on the anniversary of the contributor's birth next following the commencing day as if:
 (i) the reference in section 46 to 5 per centum were