Document ID: chunk:federal_register_of_legislation:C2024C00825:section:107m:p3
Version: federal_register_of_legislation:C2024C00825
Segment Type: section
Provision Reference: s 107M (pt 3/4)
Character Range: 293095–295589

subsection applies in relation to the employee; and
 (c) if the employee would, under the law in force in the State on the day immediately before the relevant date, have been entitled to be paid from the State Fund upon ceasing to be a contributor to that Fund upon attaining the age for his retirement an amount ascertained by multiplying the amount of his interest in that account by a particular factor:
 (i) this paragraph applies in relation to the part of the amount so paid that is based on his interest in that account; and
 (ii) that factor is the factor applicable, for the purposes of subparagraph (i) of paragraph (d) of subsection (5), in relation to that part of the amount so paid.
 (8) In paragraphs (c), (d) and (e) of subsection (5), a reference to compound interest on an amount, or a part of an amount, paid to the Provident Account, or to the new Superannuation Fund, in respect of a prescribed employee under paragraph (a) of subsection (4) is a reference to compound interest on that amount, or on that part of that amount, as the case requires, 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 pursuance of subsection (2) 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.
 (9) 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, so much of the amount paid by him to the Board in pursuance of subsection (2) 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.
 (10) Where an amount payable out of the Provident Account is greater than the amount that, but for subsection (5), would be payable, there is payable to the Provident Account by the Commonwealth an amount equal to the difference between the amounts.
 (11) Where an amount is payable out of the Provident Account under subsection (9), an amount equal