Document ID: chunk:federal_register_of_legislation:F2004C00170:reg:110sb:p1
Version: federal_register_of_legislation:F2004C00170
Segment Type: reg
Provision Reference: reg 110SB (pt 1/2)
Character Range: 48633–51785

110SB                 Omit paragraph (a) of the definition of notional accumulated SG contributions in subsection (1), substitute:

                               '(a) the amount worked out by:
                                   (i) multiplying the person's SG minimum contributions in relation to that period by the part-time factor; and
                                   (ii) reducing the amount worked out under subparagraph (i) by the amount worked out in accordance with subsection (1A); and'.

                      Insert after the definition of notional accumulated SG contributions in subsection (1):

                      'part-time factor means the factor:
                             where B and C have the meanings given by subsection (1B).'

                      Insert after subsection (1):

                            '(1A) The second-mentioned amount referred to in subparagraph (a) (ii) of the definition of notional accumulated SG contributions, being the amount by which the amount worked out under subparagraph (a) (i) is to be reduced, is:
                               (a) if, under subsection (5), the Australian Government Actuary has determined an amount or a method of calculation that applies only to approved part-time employees — the amount specified in, or worked out in accordance with, that determination; or
                               (b) if, under subsection (5), the Australian Government Actuary has determined an amount or a method of calculation that applies to eligible employees generally — the amount worked out by multiplying the amount specified in, or worked out in accordance with, that determination by the part-time factor.
                            '(1B) In the definition of part-time factor in subsection (1), in relation to a person:
                      B is:
                               (a) except if paragraph (b) of this definition applies — the total number of hours that, in accordance with the terms and conditions of employment applying from time to time to the person, were the normal hours of duty of the person during the period of 1 year immediately preceding the most recent anniversary of the birth of the person; or
                               (b) if the person became an approved part-time employee on his or her first day of service and the most recent anniversary of the birth of the person occurred before that day — the number of hours that, in accordance with the terms and conditions of employment applying in relation to the person on his or her first day of service, were the normal hours of duty of the person for the period that was the basic work period in relation to the person;
                      C is:
                               (a) except if paragraph (b) of this definition applies — the total number of hours that would have been the normal hours of duty of the person during the period referred to in paragraph (a) of the definition of factor B in relation to the person if, during the whole of that period, the person had performed his or her work or duties on a full-time basis; or
                               (b) if the person became