Document ID: chunk:federal_register_of_legislation:C2017C00101:section:3:p6
Version: federal_register_of_legislation:C2017C00101
Segment Type: section
Provision Reference: s 3 (pt 6/7)
Character Range: 15773–18344

qualified employee in that year in respect of that benefit (including any period during which the person was on leave without pay); and
PP is the number of pay periods ending in that year.
yearly pay period value, in relation to the year commencing on 1 January 1988 or a subsequent year in relation to a person in respect of whom an interim benefit is payable, means the number obtained by dividing the sum of the qualifying pay period values of the person for that year in respect of that benefit by the number of pay periods ending in that year.
 (2) For the purposes of this Act, a former qualified employee shall be taken to have retired voluntarily if:
 (a) the person retired after attaining the maximum retiring age applicable to the person; or
 (b) the person was retired at his or her own request or resigned his or her office, position or employment and had, at that time, attained the minimum retiring age applicable to the person.
 (3) Where:
 (a) an interim benefit is payable in respect of a person in a year; and
 (b) the benefit became payable in a pay period that ends in the following year;
the pay period shall, for the purpose only of determining the number of pay periods ending during the person's period of employment as a qualified employee in the first‑mentioned year in respect of that benefit, be taken to end in the first‑mentioned year.
 (4) For the purposes of the definitions of annual rate of contribution and average annual rate of contribution in subsection (1), if a person's annual rate of salary on a particular day is later adjusted with retrospective effect to that day, that adjustment shall be taken into account.
 (5) For the purposes of this Act:
 (a) no account shall be taken of overtime worked by a person; and
 (b) if the pay periods of a person during a year are not all of the same length, the person shall be taken to have been paid during the year on the basis of pay periods of a length that is the shorter or shortest of the person's pay periods.
 (6) The Superannuation Benefits (Supervisory Mechanisms) Act 1990 does not apply to:
 (a) benefits payable because of contributions payable under this Act into a declared fund; and
 (b) arrangements applying because of a declaration under subsection 4A(2) and benefits payable under such arrangements; and
 (c) interim benefits;
and the provision of benefits referred to in paragraph (a), (b) or (c) is not taken to be the provision of a superannuation scheme for the purposes of regulations or determinations under the Superannuation Act or the new Superannuation Act.