Commonwealth Consolidated Regulations

SUPERANNUATION (INTEREST) REGULATIONS - REG 5

For the purpose of ascertaining:

(a)

the accumulated basic contributions or the accumulated supplementary contributions of a person who has ceased to be an eligible employee (whether for the first time or otherwise); or

(b)

the amount that, by virtue of section 7A of the Act, is to be added to the amount that would, but for that section, be the amount of the accumulated basic contributions or accumulated supplementary contributions of a person who has ceased to be an eligible employee on an occasion earlier than his first day of service, or who, immediately before becoming an eligible employee, was an existing invalidity pensioner;

interest, calculated in accordance with regulation 6, is payable in respect of any amount that is a prescribed amount in relation to a person who has ceased to be an eligible employee in respect of the period commencing on the day that is the first day of interest in relation to the prescribed amount and ending on the day that is the termination day in relation to the person.