Commonwealth Consolidated Regulations

SUPERANNUATION (RESOLUTION OF COMPLAINTS) REGULATIONS 1994 - REG 7

                For the purposes of subparagraph 37A (3) (a) (iii), paragraph 37A (4) (c) and subparagraphs 37B (2) (a) (iii), 37D (3) (a) (iv), 37D (5) (a) (iv), 37F (3) (a) (iv) and 37F (5) (a) (iv) of the Act, interest on any:

                (a)    money received under a life policy; or

               (b)    money received in relation to a life policy fund; or

                (c)    money received under an annuity policy; or

               (d)    money received under an RSA; or

                (e)    money received under a contract of insurance, the premiums for which are paid from an RSA;

that is required by the Tribunal to be repaid is to be worked out in accordance with the formula:

where:

"p" is the amount of money received in a particular calendar month.

"n" is the number of whole calendar months since the end of that calendar month to the date of the repayment; and

"i" is 0.05 / 12, worked out to 5 decimal places.