Australian Capital Territory Consolidated Acts Australian Capital Territory Consolidated Acts(1) The Territory must pay the prescribed amount for a member to the relevant fund for the member.
(2) In this section:
"designated percentage" means—
(a) 14%; or
(b) if another percentage is prescribed by regulation—the prescribed percentage.
"prescribed amount", in relation to a member, means—
(a) if the member has made an election under section 18A (Members may transfer to choice of funds scheme) and a discontinuance is taken not to apply to the member after the election was made—an amount equal to 24% of the member's salary for each year, or part of a year, that the member is a member of the Legislative Assembly; or
(b) in any other case—
(i) an amount equal to the designated percentage of the member's salary for each year, or part of a year, that the member is a member of the Legislative Assembly; and
(ii) if, for a period, the member contributes to the member's relevant fund at the rate of 3% or more of the member's salary for the period—an additional amount equal to 1% of the member's salary for the period.
"relevant fund", in relation to a member, means—
(a) if a choice under section 18A (Members may transfer to choice of funds scheme) or section 23 (Choice of fund by members) has been made by the member—the chosen fund; or
(b) in any other case—the
default fund.