Document ID: chunk:federal_register_of_legislation:F2005C00642:reg:111:p3
Version: federal_register_of_legislation:F2005C00642
Segment Type: reg
Provision Reference: reg 111 (pt 3/16)
Character Range: 43762–46335

paid by the Commissioner into the Superannuation Fund, and, for the purposes of this Act, the amount so paid by the Commissioner into the Superannuation Fund shall, subject to subsection (3), be deemed to be basic contributions paid by the person to the Commissioner under this Act; and
          (b) so much of the transferred amount as is equal to the employer component of the transfer value shall be paid by the Commissioner to the Commonwealth.

          '(3) If, upon the person ceasing to be a relevant eligible employee, a lump sum benefit becomes payable to or in respect of that person under or in accordance with subsection 62 (2), 62 (2A), 69 (2), 72 (2), 73 (2), 84 (2), 87 (2), 88 (1), 99 (2) or 101 (2), then, for the purpose of calculating the amount of that benefit, the amount of his or her accumulated basic contributions shall be deemed to be the amount that would have been the amount of his or her accumulated basic contributions if the amount paid into the Superannuation Fund in respect of the person under paragraph (2) (a) had been an amount equal to two-sevenths of the transferred amount.

          '(4) If, on the person ceasing to be an eligible employee:
          (a) a lump sum benefit becomes payable to or in respect of the person under section 80 or 111; and
          (b) the amount, or part of the amount, paid to the Commonwealth in respect of the person under paragraph (2) (b) is an amount that was payable to the person on the termination of his or her State employment under the State scheme;
         there is payable to or in respect of the person an additional lump sum benefit of an amount equal to the total of:
          (c) the amount referred to in paragraph (b); and
          (d) the amount that would have accrued by way of interest on that amount if it had been paid into the Fund on the day on which that amount was paid to the Commonwealth by the Commissioner.

          '(5) There shall be added to the period that, but for this subsection, would be the person's period of contributory service, the period that, for the purposes of section 28B of the State Act as amended and in force immediately before the transfer day, would have been his or her period of contributory service if he or she had retired from his or her State employment on 30 March 1977.

          '(6) For the purposes of this section:
          (a) the employee component of the transfer value payable to or in respect of a person is the part of that transfer value that was based upon contributions made by the person; and
          (b) the