Document ID: chunk:federal_register_of_legislation:C2024C00825:section:119w:p3
Version: federal_register_of_legislation:C2024C00825
Segment Type: section
Provision Reference: s 119W (pt 3/3)
Character Range: 395843–397011

compound interest referred to in that section is payable includes the period that commenced on the day after the person ceased to be a contributor to the Provident Account and ended on the day on which he ceased to be employed in public employment and, on and after 1 July 1976, the prescribed rate of interest referred to in section 85 is the rate at which interest is from time to time calculated in accordance with regulations made for the purposes of the definition of accumulated basic contributions in subsection (1) of section 3 of the Superannuation Act 1976.
 (9) In this section, relevant retiring age, in relation to a person, means the age that would have been the person's minimum retiring age for the purposes of the Superannuation Act 1976 if the person:
 (a) had not ceased to be a contributor to the Fund or to the Provident Account;
 (b) had become an eligible employee for the purposes of that Act on 1 July 1976 by virtue of paragraph (a) of the definition of eligible employee in subsection 3(1) of that Act; and
 (c) had continued to occupy the position held immediately before ceasing to be a contributor to the Fund or to the Provident Account.