Document ID: chunk:federal_register_of_legislation:F2011C00507:reg:136:p1
Version: federal_register_of_legislation:F2011C00507
Segment Type: reg
Provision Reference: reg 136 (pt 1/18)
Character Range: 16374–19633

136          Omit 'subject to this Division' from subsection (1), substitute 'subject to this Division and Division 9 of Part XII'
             Insert after subsection (2):
                 '(2AA) If a deferred benefit by way of lump sum benefit is payable in accordance with section 197, 200 or 201 to a person other than a former eligible employee with benefits from previous employment, the amount of the benefit is an amount equal to the sum of:
                    (a) 3 times the person's accumulated basic contributions; and
                    (b) the person's accumulated supplementary contributions (if any); and
                    (c) if:
                        (i) an event mentioned in subsection 139AA (2) has happened in relation to the person before the day on which the deferred benefit becomes payable, or happens on that day; or
                        (ii) the amount of the person's accumulated employer contributions is less than $500;
                 the person's accumulated employer contributions (if any).
             Omit 'or invalidity benefit' from subsection (2A), substitute
                 ', invalidity benefit, or lump sum benefit in accordance with section 197, 200 or 201'
             Insert 'or (2AA)' after 'subsection (2)' in paragraph (2A) (a)
             Insert after subsection (2B):
                 '(2BAA) Where a deferred benefit by way of lump sum benefit is payable in accordance with section 204, 205, 209 or 210, the amount of the benefit is an amount equal to the sum of:
                    (a) 3 times the deceased person's accumulated basic contributions; and
                    (b) the deceased person's accumulated employer contributions (if any); and
                    (c) the deceased person's accumulated supplementary contributions (if any).'
             Insert 'or (2BA)'  after 'subsection (2B)' in paragraph (2D) (c)
             Omit paragraph (2E) (a), substitute:
                    '(a) at any time:
                        (i) a deferred benefit by way of orphan benefit is payable; or
                         (ii) a lump sum benefit under Part XII is payable to or on behalf of an orphan;
                 in respect of a person other than a former eligible employee with benefits from previous employment; and'
             Omit from paragraph (2E) (c) '99 or 101', substitute '99, 101, 209 or 210'
             Omit 'or orphan benefit' from subsection (2F), substitute ', orphan benefit, or lump sum benefit in accordance with section 204, 205, 209 or 210.'.
Part XII     Add the following Divisions:

                            'Division 7 Optional and other benefits payable to or in relation to Former Provident Account Contributors

                   '196 (1) In this Division, unless the contrary intention appears, prescribed eligible employee means an eligible employee, being an eligible employee referred to in paragraph (a) of the definition of eligible employee in subsection 3 (1), who, immediately before the commencing day, was a contributor to, or was liable to contribute to, the Provident Account established under the superseded Act.
                 '(2) A reference in this Act to the adjusted final salary amount in relation to a person who is, or has