Document ID: chunk:federal_register_of_legislation:C1971A00046:body:0:p55
Version: federal_register_of_legislation:C1971A00046
Segment Type: other
Provision Reference: 
Character Range: 127581–130176

the Board, within the period referred to in that sub-section, the life policy or life policies referred to in paragraph (b) of sub-section (1.) of this section free from any mortgages, charges or other encumbrances.
"(4.) If—
     (a) the salary of the person upon his becoming an employee was greater than the annual remuneration that was payable to him in respect of the last employment in which he was employed and to which a superannuation scheme referred to in sub-section (1.) of this section related; or
     (b) after the person became an employee his salary is increased,
the Board shall so far as is practicable arrange for the amount or amounts of any life policy or life policies assigned to the Board by the person to be increased by the amount or amounts by which the life policy or life policies would have been increased under that scheme, or for the issue of such additional life policy or life policies in relation to the person as would have been issued under that scheme, if he had remained a member of the scheme and had been in receipt of an annual remuneration equal to that salary or that increased salary, as the case may be.
"(5.) Subject to sub-section (14.) of this section, so much of any premium payable in respect of any life policy assigned to the Board in accordance with sub-section (3.) of this section or issued in accordance with the last preceding sub-section as relates to a period during which the person is an employee shall be paid by the Commonwealth out of the Consolidated Revenue Fund, which is appropriated accordingly.
"(6.) Where the person is a contributor to the Fund and the amount of the fortnightly contributions payable by him to the Fund at any time is less than the amount that is the prescribed amount in relation to him at that time, he is liable to pay to the Commonwealth an amount equal to the difference.
"(7.) Where the person (in this sub-section referred to as 'the former contributor') makes an election under sub-section (1.) of section one hundred and nineteen u of this Act and, within the period that is the prescribed period in relation to him for the purposes of Division 3

of this Part, he becomes employed in employment in respect of which a superannuation scheme referred to in paragraph (a) of sub-section (1.) of this section is applicable and becomes a member of that scheme, then—
     (a) subject to paragraph (c) of this sub-section, Division 3 of this Part has effect in relation to him as if that employment were public employment and that superannuation scheme were an eligible superannuation scheme;
     (b)