Document ID: chunk:federal_register_of_legislation:F2022C00997:reg:124
Version: federal_register_of_legislation:F2022C00997
Segment Type: reg
Provision Reference: reg 124
Character Range: 152007–154769

124  Saving of existing contributions
 (1) Where, immediately before the commencement of these Regulations, a person was contributing to the Superannuation Fund for a number of units of pension determined under the Superannuation Ordinance at a rate or rates calculated under that Ordinance, he shall, after the commencement of these Regulations, and subject to these Regulations, continue to contribute for that number of units at that rate or rates.
 (2) Where, immediately before the commencement of these Regulations, a person was contributing to the Reserve Units of Pension Account for a number of reserve units of pension in respect of which he had made an election under section 31 of the Superannuation Ordinance at a rate or rates calculated under that Ordinance, he shall, after the commencement of these Regulations, and subject to these Regulations, continue to contribute for that number of reserve units at that rate or rates.
 (4) Where, immediately before the commencement of these Regulations, a number of non‑contributory units was applicable to a contributor under the Superannuation Ordinance, that number of non‑contributory units shall, after the commencement of these Regulations, and subject to these Regulations, continue to be applicable to that contributor.
 (5) Where, immediately before the commencement of these Regulations, a person was paying additional contributions to the Superannuation Fund pursuant to subsection 29C(2) of the Superannuation Ordinance, he shall, after the commencement of these Regulations, and subject to these Regulations, continue to pay those additional contributions.
 (6) Where, immediately before the commencement of these Regulations, contributions payable by a person to the Superannuation Fund were in arrear and interest on those arrears had not been waived by the Board under section 85A of the Superannuation Ordinance, the amount of those arrears and the amount of interest on those arrears shall, after the commencement of these Regulations, and subject to these Regulations, continue to be payable by that person.
 (7) Amounts paid, before the commencement of these Regulations, by way of:
 (a) contributions to the Superannuation Fund for a number of units of pension determined under the Superannuation Ordinance;
 (b) contributions to the Reserve Units of Pension Account for a number of reserve units of pension in respect of which he had made an election under section 31 of the Superannuation Ordinance; and
 (d) additional contributions to the Superannuation Fund pursuant to subsection 29C(2) of the Superannuation Ordinance;
by a person who is a contributor under these Regulations shall, for the purposes of these Regulations, be deemed to have been paid under these Regulations.