Commonwealth Numbered Acts

SUPERANNUATION LAWS AMENDMENT ACT 1994 No. 96, 1994 - SECT 7

7. Section 18 of the Principal Act is amended:

   (a)  by omitting paragraph (2)(b) and substituting the following paragraph:

"(b) in any other case - the greater of the following:

        (i)    a refund of his or her contributions together with a payment of
               the Commonwealth supplement;

        (ii)   the superannuation guarantee safety-net amount.";

   (b)  by inserting after subsection (2) the following subsection:

"(2AA) If the amount referred to in subparagraph (2)(b)(i) is equal to the
amount referred to in subparagraph (2)(b)(ii), paragraph (2)(b) has effect as
if the amount referred to in subparagraph (2)(b)(i) were greater than the
amount referred to in subparagraph (2)(b)(ii).";

   (c)  by omitting from subsection (4) all the words after "shall be" and
        substituting the following words and paragraphs:

"the greater of the following:

   (a)  a refund of his or her contributions together with a payment of 50% of
        the Commonwealth supplement;

   (b)  the superannuation guarantee safety-net amount.";

   (d)  by inserting after subsection (4) the following subsection:

"(5) If the amount referred to in paragraph (4)(a) is equal to the amount
referred to in paragraph (4)(b), subsection (4) has effect as if the amount
referred to in paragraph (4)(a) were greater than the amount referred to in
paragraph (4)(b).".