Document ID: chunk:federal_register_of_legislation:C2004A01463:body:0:p40
Version: federal_register_of_legislation:C2004A01463
Segment Type: other
Provision Reference: 
Character Range: 92049–94601

his retirement, an amount calculated by reference, among other things, to the amount ascertained by multiplying the sum of his contributions to the State Fund by a particular factor—

(a) this sub-section applies in relation to the employee; and
    (b) that factor is the factor applicable in relation to the employee for the purposes of paragraph (c) of sub-section (5) of this section.

"(7) Where the amount paid to the Provident Account, or to the new Superannuation Fund, in respect of a prescribed employee under paragraph (a) of sub-section (4) of this section was based on the employee's interests in 2 or more separate accounts forming part of the State Fund—

    (a) the amount so paid by the Board shall, for the purposes of this section, be deemed to consist of parts each of which comprises the part of the amount so paid that is based on his interest in 1 of those accounts;
(b) this sub-section applies in relation to the employee; and
    (c) if the employee would, under the law in force in the State on the day immediately before the relevant date, have been entitled to be paid from the State Fund upon ceasing to be a contributor to that Fund upon attaining the age for his retirement an amount ascertained by multiplying the amount of his interest in that account by a particular factor—
       (i) this paragraph applies in relation to the part of the amount so paid that is based on his interest in that account; and
       (ii) that factor is the factor applicable, for the purposes of sub-paragraph (i) of paragraph (d) of sub-section (5) of this section, in relation to that part of the amount so paid.
"(8) In paragraphs (c), (d) and (e) of sub-section (5) of this section, a reference to compound interest on an amount, or a part of an amount, paid to the Provident Account, or to the new Superannuation Fund, in respect of a prescribed employee under paragraph (a) of sub-section (4) of this section is a reference to compound interest on that amount, or on that part of that amount, as the case requires, in respect of the period that commenced on the date on which the employee paid an amount equal to the prescribed amount to the Board in pursuance of sub-section (2) of this section and ended on the date on which he ceased to be a contributor to the Provident Account, at the rate or rates applicable for the purposes of Part V.

"(9) Where a prescribed employee ceases to be a contributor to the Provident Account in such circumstances that an amount equal to the contributions paid by him to the Provident Account