Commonwealth Numbered Acts

SUPERANNUATION LEGISLATION AMENDMENT ACT 1991 No. 130, 1991 - SECT 63

63. After section 242 of the Principal Act the following Part is inserted:

"PART XIIIA - TRANSFERS TO AUTHORISED SUPERANNUATION SCHEMES Holders of
statutory offices

"242A. For the purposes of this Part, the holder of a statutory office whose
remuneration is paid by an authority or body is taken to be employed by that
authority or body. Authorisation of superannuation schemes

"242B. The Minister may, in writing, declare a superannuation scheme that
provides benefits for persons who are employed by, or are members of the staff
of, an authority or body to be an authorised superannuation scheme for the
purposes of this Part. Deferred benefits - eligible employee transferring to
an authorised superannuation scheme

"242C. (1) Subject to subsection (2), where a person who:

   (a)  is an eligible employee; and

   (b)  is employed by, or is a member of the staff of, an authority or body;
        ceases, within such period as is determined by the Minister in
        relation to the person, to be an eligible employee because the person
        becomes a member of a superannuation scheme declared by the Minister
        under section 242B to be an authorised superannuation scheme for the
        purposes of this Part, deferred benefits are applicable in respect of
        the person.

"(2) Subsection (1) does not apply in relation to a person who, when ceasing
to be an eligible employee, had completed a period of eligible employment as
mentioned in subsection 132 (1) of less than one year.

"(3) Where, under subsection (1), deferred benefits are applicable in relation
to a person, the person is not entitled to be paid benefits under this Act
other than benefits under Part VI, subsection 110S (2) or section 111.

"(4) A determination of the Minister for the purposes of subsection (1) is a
disallowable instrument. Deferred benefits under this Part

"242D. (1) The deferred benefits applicable in respect of a person under
section 242C are deferred benefits of the kind mentioned in subsection 136 (1)
and, subject to section 242E, this Act (other than section 139 and subsection
141 (1)) applies in respect of those benefits as if they had become applicable
in relation to the person under Division 3 of Part IX.

"(2) This Act in its application in respect of deferred benefits applicable in
respect of a person under section 242C has effect as if the reference in
subsections 143 (1) and (3) to paragraph 139 (2) (a) were a reference to
paragraph 242E (1) (c).
Circumstances in which deferred benefits become payable   "242E. (1) Subject
to subsection (2), deferred benefits that are applicable in respect of a
person under section 242C become payable on the day immediately after the
earliest of the following dates:

   (a)  if the person, by notice in writing given to the Commissioner, selects
        a date for the commencement of the payment of the deferred benefits,
        being a date not earlier than:

   (i)  the date on which the person attains the age that would have been the
        person's minimum retiring age for the purposes of this Act if the
        person had not ceased to be an eligible employee and had continued to
        occupy the position held by the person immediately before so ceasing;
        and

   (ii) the date on which the notice is given;
the date so selected;

   (b)  the date on which the person attains the age of 65 years;

   (c)  the date the Commissioner is satisfied that the person has, by reason
        of invalidity or physical or mental incapacity, become totally and
        permanently incapacitated within the meaning of Part IVA;

   (d)  the date of the person's death.

"(2) If, on a date worked out under paragraph (1) (a) or (b), the person has
not ceased to be employed by, or to be a member of the staff of, the authority
or body, that paragraph applies as if the date mentioned in the paragraph were
the date on which the person so ceased to be employed by, or to be a member of
the staff of, the authority or body, as the case may be.".