Document ID: chunk:federal_register_of_legislation:C2004A01463:body:0:p15
Version: federal_register_of_legislation:C2004A01463
Segment Type: other
Provision Reference: 
Character Range: 33063–35768

1976, and any election made after the pay-day last preceding 1 July 1976 and on or before 31 July 1976 shall be deemed to have been made on that pay-day.".

Exchange of pension rights for equivalent rights under this Act.
42. Section 71 of the Principal Act is amended by omitting sub-section (3) and substituting the following sub-section:—

"(3) Notwithstanding anything in the preceding provisions of this section, an employee is not entitled to make an application under sub-section (1c) of this section after 31 July 1976 and—

    (a) any application made under that sub-section on or after 1 July 1976 and on or before 31 July 1976 shall be made to the Commissioner for Superannuation and this section shall have effect in relation to the application as if references in this section to the Board were references to the Commissioner for Superannuation; and

    (b) any application made under that sub-section after the pay-day last preceding 1 July 1976 and on or before 31 July 1976 shall be deemed to have been made on that pay-day.".

Employee having right to refund or gratuity under other law may exchange his rights for equivalent rights under this Act.
43. Section 72 of the Principal Act is amended by omitting sub-section (2) and substituting the following sub-section:—

"(2) Notwithstanding anything in the preceding provisions of this section, an employee is not entitled to make an application under sub-section (1c) of this section after 31 July 1976 and—
    (a) any application made under that sub-section on or after 1 July 1976 and on or before 31 July 1976 shall be made to the Commissioner for Superannuation and this section shall have effect in relation to the application as if references in this section to the Board were references to the Commissioner for Superannuation; and
    (b) any application made under that sub-section after the pay-day last preceding 1 July 1976 and on or before 31 July 1976 shall be deemed to have been made on that pay-day.".

Transfer of policies to Board.
44. Section 74 of the Principal Act is amended—
    (a) by omitting from sub-section (4) the words "or such lower rate as the Board" and substituting the words "or such rate as the Superannuation Fund Investment Trust"; and
    (b) by adding at the end thereof the following sub-sections:—
    "(5) Sub-section (1) of this section ceases to have effect on and from 1 July 1976.
    "(6) Upon the commencement of the Superannuation Act 1976, a policy that has been transferred to the Board and has not been retransferred by the Board shall, by force of this sub-section, be transferred to the Superannuation Fund Investment Trust and, after the commencement of that Act, any reference