Document ID: chunk:federal_register_of_legislation:C1950A00076:body:0:p4
Version: federal_register_of_legislation:C1950A00076
Segment Type: other
Provision Reference: 
Character Range: 11198–13842

paid to a contributor to the Provident Account a sum equal to one-half of the amount of the contributions paid by him to the Provident Account after the date of commencement of this section, but not including so much of any fortnightly contribution as exceeds Eighteen shillings, together with compound interest at the rate of Three pounds per centum per annum, calculated from that date, on that sum.
"(3.) Where the aggregate of the sums payable under the preceding provisions of this section is less than one-half the annual rate of salary payable to the contributor to the Provident Account at the date of his retirement, there shall be paid to the contributor, in lieu of the sums payable under those provisions, a sum equal to one-half the annual rate of salary payable to him at that date.
"(4.) The last preceding sub-section does not apply in relation to a person who has become or becomes a contributor to the Provident Account after the commencement of the Superannuation Act 1946 and retires or is retired on or after reaching the age of sixty years.
"(5.) Where a contributor to the Provident Account has been paid a sum under sub-section (3.) of this section and he again becomes a contributor to the Provident Account, that sub-section shall not apply to any subsequent payment to which he becomes entitled under this section.

Payments on death of contributor with dependants.
"60z.—(1.) On the death of a male contributor to the Provident Account before retirement, there shall be paid to his widow a sum equal to two and one-half times the following amount, namely, the aggregate of his contributions to the Provident Account, together with compound interest on those contributions at the rate of Three pounds per centum per annum.
"(2.) In addition to the sum payable under the last preceding sub-section, there shall be payable to the widow of a deceased male contributor to the Provident Account, a sum equal to one-half of the amount of the contributions paid by him to the Provident Account after the date of commencement of this section, but not including

F.630.—17

so much of any fortnightly contribution as exceeds Eighteen shillings, together with compound interest at the rate of Three pounds per centum per annum, calculated from that date, on that sum.
"(3.) Where the aggregate of the sums payable under the preceding provisions of this section is less than one-half the annual rate of salary payable to the contributor to the Provident Account at the date of his death, the sum payable to his widow shall be a sum equal to one-half of that annual rate of salary.
"(4.) Where a male contributor to the Provident