Commonwealth Numbered Acts

SUPERANNUATION LEGISLATION AMENDMENT ACT 1990 No. 40, 1990 - SECT 39

39. Section 47 of the Principal Act is amended:
(a) by omitting from subsection (1) "to be that highest rate" and substituting
the following words and paragraphs: "to be:

   (a)  where paragraph (b) does not apply - that highest rate; or

   (b)  where, if:

   (i)  there had not been any decrease in his annual rate of salary during
        the period commencing immediately after the last day on which that
        highest annual rate of salary was payable to him and ending on the
        relevant anniversary; and

   (ii) account were taken of any increase in salary that he would have
        received during that period other than an increase resulting from his
        progressing to a higher level of salary within a graduated range of
        salaries applicable to the office held by him or the employment in
        which he was employed; the annual rate of salary of the eligible
        employee on the relevant anniversary (in this paragraph called the
        'imputed annual rate of salary') would be higher than that highest
        annual rate of salary - that imputed annual rate of salary.";

   (b)  by omitting from subsection (3) "to be that highest rate" and
        substituting the following words and paragraphs: "to be:

   (c)  where paragraph (d) does not apply - that highest rate; or

   (d)  where, if:

   (i)  there had not been any decrease in his annual rate of salary during
        the period commencing immediately after the last day on which that
        highest annual rate of salary was payable to him and ending on the
        relevant anniversary; and

   (ii) account were taken of any increase in salary that he would have
        received during that period other than an increase resulting from his
        progressing to a higher level of salary within a graduated range of
        salaries applicable to the office held by him or the employment in
        which he was employed; the annual rate of salary of the eligible
        employee on the relevant anniversary (in this paragraph called the
        'imputed annual rate of salary') would be higher than that highest
        annual rate salary - that imputed annual rate of salary.".