SUPERANNUATION ACT 1916 - SECT 108 Payments to be made as if conversion ratio always applied
SUPERANNUATION ACT 1916 - SECT 108
Payments to be made as if conversion ratio always applied108 Payments to be made as if conversion ratio always applied
Where a conversion ratio applies to the currency of a country in which, immediately before the conversion ratio first applied to that currency, there was employed a foreign contributor to whom section 106 did not apply--
(a) STC may pay to the foreign contributor such amount or make such allowance in respect of future contributions payable by the contributor,
(b) the employer shall pay to the Fund such amount, and
(c) the foreign contributor shall pay to the Fund such amount,as in the opinion of STC would place the Fund, the foreign contributor and the employer of the foreign contributor in the financial position in which they would have been if the conversion ratio had always applied.