Document ID: chunk:federal_register_of_legislation:C2024C00825:section:100l:p2
Version: federal_register_of_legislation:C2024C00825
Segment Type: section
Provision Reference: s 100L (pt 2/2)
Character Range: 262487–264609

applicable for the purposes of Part V;
  and an amount ascertained by multiplying by the factor applicable in relation to the employee in accordance with subsection (5) the aggregate of the amount paid by the employee to the Board under subsection (1) and compound interest on that amount, in respect of the period that commenced on the date on which the employee paid an amount equal to the prescribed amount to the Board in accordance with subsection (1) and ended on the date on which he ceased to be a contributor to the Provident Account, at the rate or rates applicable for the purposes of Part V.
 (5) For the purpose of subsection (4), the factor applicable in relation to a prescribed employee is a factor determined by the Board to be the appropriate factor having regard to the rules of the superannuation scheme applicable to the employee immediately before the relevant date.
 (6) Where a prescribed employee ceases to be a contributor to the Provident Account in such circumstances that an amount equal to the contributions paid by him to the Provident Account together with compound interest on the amount of those contributions is payable to or in respect of him under this Act, so much of the amount paid by him to the Board in accordance with subsection (1) as was paid by the Board to the Commonwealth, together with compound interest, in respect of the period that commenced on the date on which the employee paid that amount to the Board and ended on the date on which he ceased to be a contributor to the Provident Account, at the rate or rates applicable for the purposes of Part V is payable to or in respect of him out of the Provident Account.
 (7) Where an amount payable out of the Provident Account is greater than the amount that, but for subsection (4), would be payable, there is payable to the Provident Account by the Commonwealth an amount equal to the difference between the amounts.
 (8) Where an amount is payable out of the Provident Account under subsection (6), there is payable to the Provident Account by the Commonwealth an amount equal to that amount.

Division 4—Miscellaneous