Document ID: chunk:federal_register_of_legislation:C1959A00102:front:0:p20
Version: federal_register_of_legislation:C1959A00102
Segment Type: other
Provision Reference: 
Character Range: 47021–49748

In respect of contributions referred to in the last preceding sub-section, and in respect of contributions that become payable after the thirtieth day of June, One thousand

nine hundred and sixty, the rate is, subject to the next succeeding sub-section, Three pounds fifteen shillings per centum per annum in respect of any period commencing after that date.
"(4.) The Governor-General may, from time to time, by order published in the Gazette, fix a rate lower than Three pounds fifteen shillings per centum per annum, to have effect in respect of a period commencing on a date specified in the order, but such an order shall not increase the rate in force immediately before the order.

Commencement of benefit.
"60adb.—(1.) Where, in pursuance of this Part, an employee becomes liable to contribute to the Provident Account, he shall be deemed to be such a contributor as from the date when he becomes liable so to contribute, but if any benefit becomes payable to or in respect of that contributor before he has actually commenced to make contributions or additional contributions, there shall be deducted from the benefit such contributions as are due by him or, if a pay-day has not occurred before the benefit becomes payable, one fortnightly contribution.
"(2.) Where a contribution is, or contributions are, required to be deducted from a benefit under the last preceding sub-section, that contribution or those contributions shall, for the purposes of determining the amount of that benefit, be deemed to be a contribution or contributions made to the Provident Account.".

Payments by Commonwealth.
50. Section sixty ae of the Principal Act is amended by omitting sub-sections (3.) and (4.).

51. After section sixty ae of the Principal Act the following section is inserted in Part IVb.:—

Determination of annual salary.
"60aea.—(1.) For the purposes of this Part, other than paragraph (b) of sub-section (1.) of section sixty w of this Act, the salary of a contributor to the Provident Account shall be taken to be his annual salary.
"(2.) In ascertaining the annual salary of a contributor to the Provident Account for the purposes of this section—
       (a) subject to the next succeeding paragraph, if he is not receiving remuneration at the maximum rate applicable to his office or position, he shall be deemed to be receiving remuneration at that maximum rate; and
       (b) if he has not attained the age of twenty-one years and occupies an office or position in respect of which the remuneration varies according to the age of the

    occupant, the last preceding paragraph does not apply, but, in the case of such a contributor to the Provident Account who has not attained the age of twenty years, he