New South Wales Consolidated Acts

HUNTER DISTRICT WATER BOARD EMPLOYEES' PROVIDENT FUND (SPECIAL PROVISIONS) ACT 1987 - SECT 4

4 Transfer from the Provident Fund to the Retirement Fund of transferred contributor’s contributions

(1) The transfer to the Retirement Fund on or after the relevant day of contributions made to the Provident Fund by a transferred contributor shall be taken to have been done lawfully and not in breach of trust.

(2) On the relevant day, each transferred contributor shall be taken to have:

(a) elected to have become a contributor to the Retirement Fund,

(b) withdrawn from membership of the Provident Fund,

(c) directed that the whole of any benefit payable to the contributor from the Sub-accounts 1 and 2 of the contributor’s member’s account in the Provident Fund be paid to the Retirement Fund, and

(d) on payment from the Provident Fund of the benefit referred to in paragraph (c)-surrendered all rights of membership and all benefits in respect of the Provident Fund.