Document ID: chunk:federal_register_of_legislation:C2007A00183:clause:1_45uic
Version: federal_register_of_legislation:C2007A00183
Segment Type: clause
Provision Reference: sch 1 cl 45UIC
Character Range: 18431–19773

45UIC  Top up of pension bonus in specified circumstances

 (1) The Commission may determine (a top up determination) that a person's pension bonus is to be increased if:
 (a) the Commission makes a determination (a rate determination) increasing the rate of the person's designated pension; and
 (b) the rate of the designated pension is increased in circumstances specified in an instrument made under subsection (6).

 (2) The person's pension bonus is increased by the amount specified by the Commission in the top up determination.

 (3) The Commission must not specify an increase that would be greater than the difference between:
 (a) the person's amount of pension bonus on the day on which the determination granting the bonus takes effect; and
 (b) the amount that would have been the person's amount of pension bonus on that day if the rate of the person's designated pension on that day had been the rate specified in the rate determination.

 (4) A top up determination takes effect on the day on which the determination is made or on any earlier or later day specified in the determination.

 (5) A top up determination is not a legislative instrument.

 (6) The Commission may, by legislative instrument, specify circumstances (other than circumstances specified in subsection 45UIB(1)) for the purposes of paragraph (1)(b).