Document ID: chunk:federal_register_of_legislation:C2004A03971:section:50:p6
Version: federal_register_of_legislation:C2004A03971
Segment Type: section
Provision Reference: s 50 (pt 6/12)
Character Range: 233600–236217

for which the employee is paid;

'Full-time hours' means the number of hours that the employee would work in the pay period if he or she performed his or her duties on a full-time basis.

"(3) Where the Minister makes a declaration under section 3d in relation to a period, the Table set out in the Schedule has effect in relation to that period as if it had been varied in accordance with the declaration.

"(4) Where an amount that, but for this subsection, would be a continuing contribution for a fund employee for a pay period includes a part of a cent, then:

    (a) where the part is .5 of a cent or more—that part shall be taken to be 1 cent; and

    (b) in any other case—the part shall be disregarded.

Variation of Table

"3d. The Minister may, before the commencement of a period (which may be a period commencing on 1 July 1990), declare that the Table in the Schedule is to have effect in relation to the period as if amounts specified in the declaration were substituted for amounts specified in the Table (whether sums of money or percentages).

Interest factors

"3e. (1) For the purposes of section 8a, the Minister, before each financial year, is to declare:

    (a) the factor ascertained using a specified formula to be the declared first interest factor for that year; and

    (b) the factor ascertained using a specified formula to be the declared second interest factor for that year.

"(2) A formula:

    (a) is to involve the use of a rate specified in the declaration; and

    (b) may contain a variable that depends on the period, or another aspect, of the employment of the person in relation to whom the factor is to apply.

Qualified employees

"3f. (1) The Minister may declare that a specified class of persons is a class of persons who are qualified employees.

"(2) The Minister may declare that a specified class of persons is a class of persons who are not qualified employees.

"(3) A declaration under subsection (1) or (2) takes effect from such day, not earlier than 1 January 1988, as is specified in it.".

100. After section 4 of the Principal Act the following sections are inserted:

Arrangements for certain employees

"4a. (1) The Minister may declare that a specified class of qualified employees, not being scheme employees, is a class of employees who are neither fund employees nor interim arrangement employees.

"(2) The Minister may declare that specified arrangements about superannuation or similar benefits are to apply to a declared class.

"(3) A declaration under subsection (1) or (2) takes effect from such day, not earlier than 1 January 1988, as