Document ID: chunk:federal_register_of_legislation:C1971A00046:body:0:p22
Version: federal_register_of_legislation:C1971A00046
Segment Type: other
Provision Reference: 
Character Range: 50080–52720

as at the date of the termination of the employment shall be taken to be the amount of the transfer value.

"(4.) Where a transfer value is, by virtue of the last preceding sub-section, to be deemed, for the purposes of this Division, to have become payable in respect of a person upon the termination of any employment by reason that, upon the termination of that employment, he had the legal title to a life policy, or was entitled to have the legal title to a life policy assigned to him, a transfer value shall not be deemed, for those purposes, to have become payable in respect of the person upon the termination of any previous employment by reason that, upon the termination of that previous employment, he had the legal title to that policy, or was entitled to have the legal title to that policy assigned to him.

Pension payable in respect of previous employment.
"119e. In this Division—
     (a) a reference, in relation to an employee, to a prescribed pension payable to the employee under a superannuation scheme applicable in relation to any employment in which he was employed at any time before the date on which he became an employee is a reference—
          (i) in the case of the superannuation scheme constituted by the provisions of this Act relating to the Fund—to a pension payable to the employee under this Act; and
          (ii) in the case of any other superannuation scheme—to a pension payable to the employee under that scheme that was based wholly upon contributions under the scheme by the employer or was based partly upon such contributions and partly upon contributions by the employee,
     but does not include a reference to a pension the payment of which was deferred; and
     (b) where a pension referred to in the last preceding paragraph was commuted, in whole or in part, for a lump sum after the pension became payable and before the date on which the person to whom the pension was payable became an employee, the pension shall, for the purposes of this Division, be treated as not having been so commuted.

Deferred benefits applicable in respect of previous employment.
"119f. In this Division, a reference, in relation to an employee, to deferred benefits applicable in respect of the employee under a superannuation scheme applicable in relation to any employment in which he was employed at any time before the date on which he became an employee is a reference—
     (a) in the case of the superannuation scheme constituted by the provisions of this Act relating to the Fund or by the provisions of this Act relating to the Provident Account—to deferred benefits applicable in respect