Document ID: chunk:federal_register_of_legislation:C2004A01463:body:0:p27
Version: federal_register_of_legislation:C2004A01463
Segment Type: other
Provision Reference: 
Character Range: 61614–64162

by section 20 of this Act to contribute to the Fund does not exceed the number of units of pension (including, where necessary, a fraction of a unit) determined by the Board to be the number of units of pension that would entitle that employee to benefits equivalent to the benefits to which he would be entitled under the superannuation scheme applicable to him immediately before the relevant date if he had continued to be a member of that scheme, the employee shall not be required or permitted to contribute to the Fund at that time in respect of units of pension.

"(3) If at any time the number of units of pension for which a relevant employee to whom this section applies would, but for this section, be required by section 20 of this Act to contribute to the Fund exceeds the number of units of pension determined by the Board for the purposes of sub-section (2) of this section, the employee shall not be required or permitted to contribute to the Fund at that time in respect of a number of units of pension greater than the excess.

"(4) In the application of Division 2 of Part Xa to and in relation to a relevant employee to whom this section applies, a reference in that Division to the number of units of pension for which he would, but for that Division, be required to contribute to the Fund shall be read as a reference to the number of units of pension ascertained by subtracting from the number of units of pension for which he would, but for this section and for that Division, be required to contribute to the Fund, the number of units of pension determined by the Board for the purposes of sub-section (2) of this section.

"Division 3—The Provident Account

Definition.
"100k. In this Division, 'prescribed employee' means a relevant employee who has made an election, and a payment to the Board, in accordance with section 100l of this Act.

Contributions by certain relevant employees to Provident Account.
"100l. (1) A relevant employee, other than a relevant employee to whom section 100b or 100j of this Act applies may elect, within 3 months after the relevant date or within such further period as the Board allows, to contribute to the Provident Account in accordance with this section, and may pay to the Board an amount equal to the prescribed amount within that period or within such further period as the Board allows, but any election made after the pay-day last preceding 1 July 1976 shall be deemed to have been made on that pay-day.

"(2) Notwithstanding section 5 of this Act, a prescribed employee shall