Document ID: chunk:federal_register_of_legislation:F2021C00237:reg:5
Version: federal_register_of_legislation:F2021C00237
Segment Type: reg
Provision Reference: reg 5
Character Range: 10382–11667

5  Operation of the PSSAP Fund

      5.1 All contributions and other moneys paid to CSC for the purposes of PSSAP, or as directed by CSC, shall be held in trust by CSC in the PSSAP Fund.  The PSSAP Fund shall be managed and invested by CSC in accordance with the Act and the Deed.
      5.2 The PSSAP Fund shall comprise:
         (a) contributions made by members;
         (b) contributions made by employers pursuant to the Act and the Deed;
         (c) any other moneys paid or transferred to CSC pursuant to the Act and the Deed or which become subject to the trusts of the Deed;
         (d) the income arising or derived from investments held within the PSSAP Fund; and
         (e) any accretions to or profits on realisation of investments held within the PSSAP Fund.
      5.3 CSC must pay the following out of the PSSAP Fund:
         (a) benefits in respect of PSSAP members;

         (b) costs of the administration of the Act and this Deed;

         (c) taxes relating to PSSAP and the PSSAP Fund.

Note:

    The costs of the administration of the Act and this Deed include the costs of and incidental to both the management of the PSSAP Fund by CSC and the investment of money from the PSSAP Fund.
         Subclauses 5.4 and 5.5 deleted in the 5th amending deed.