Commonwealth Consolidated Acts

SUPERANNUATION ACT 1990 - SECT 14A

             (1)  If the designated employer of a member deducts from the member's salary an amount that the employer is permitted by subsection 14(1) to deduct from that salary:

                     (a)  the employer is to pay the amount deducted to the Board; and

                     (b)  if an amount deducted is not paid to the Board on the day on which it is deducted and the Board directs that this paragraph is to apply in relation to the amount--the employer is to pay to the Board interest on the amount, at any rate that the Board determines from time to time, in respect of the period beginning on the day on which the amount is deducted and ending on the day immediately before the day on which the amount is paid.

             (2)  The Board is to pay to the PSS Fund any interest paid to the Board under paragraph (1)(b).