Document ID: chunk:federal_register_of_legislation:C2004A00035:body:0:p18
Version: federal_register_of_legislation:C2004A00035
Segment Type: other
Provision Reference: 
Character Range: 41285–43879

(15) In this section, expressions that are used in Part Va of the Principal Act have, unless the contrary intention appears, the same respective meanings as those expressions have in that Part.

23. Before Part VI of the Principal Act the following Part is inserted:—

"Part Vb—Preservation of Rights of Certain Members

Members who pay to Common­wealth transfer values received from previous employment.
"22q. (1) Where—
    (a) a person who becomes a member after the commencement of this section has, at any time before becoming a member, been in employment within or outside Australia upon the termination of which a transfer value or transfer values became payable to or in respect of him after the commencement of this section under a superannuation scheme applicable in relation to that employment;
    (b) the person elected not later than three months after the date on which he became a member to pay to the Commonwealth an amount equal to—
        (i) the amount of that transfer value; or
        (ii) if two or more transfer values became payable—the sum of the amounts of those transfer values; and
    (c) that amount has, before the expiration of that period of three months, been paid to the Commonwealth,
the following provisions of this section have effect.

"(2) The Trust may, if it is satisfied that there are special circumstances that justify it in so doing, extend the period for the making of an election, and for the payment of an amount to the Commonwealth, under sub-section (1).
"(3) So much of the amount paid to the Commonwealth as is equal to the employee component of the transfer value, or to the sum of the employee components of the transfer values, as the case may be, shall be deemed, for the purposes of this Act other than section 16, to be contributions made by the member.

"(4) For the purposes of section 18, the period of service of the member shall be deemed to be increased by such period as the Trust, having regard to the amount paid to the Commonwealth under sub­section (1) in respect of him, the rate of the contributions payable by him at the time when he became a member and the nature of the benefits provided for by this Act, determines as being appropriate in the circumstances.
"(5) Where a refund of the whole or any part of the contributions paid by the member to the Commonwealth, together with the whole or any part of the Commonwealth supplement, is payable to or in respect of him; then so much of the amount paid to the Commonwealth under sub-section (1) as is equal to the employer component of the transfer value or the sum of