New South Wales Consolidated Acts

SUPERANNUATION ADMINISTRATION ACT 1996 - SECT 81

81 Amalgamation of funds and adjustment of accounts

(1) The STC funds amalgamated as one fund under the Superannuation Administration Act 1991 continue to be amalgamated.

(2) STC is to maintain separate accounts in the amalgamated fund in relation to each STC scheme concerned.

(3) A reference in any provision of this Act or the regulations or any other Act or other instrument (other than this section) to an STC fund is taken to be a reference to that part of the amalgamated fund that is maintained for the purposes of the relevant STC scheme.

(4) STC may, at the request of an employer, from time to time adjust the amounts credited to the employer’s reserve in an account established under this section by debiting an amount and crediting that amount to the employer’s reserve in another account established in the amalgamated fund in relation to another STC scheme.

(5) STC may, at the request of the Treasurer, adjust the amounts credited to an employer’s reserve (being an employer for whom the Crown makes contributions to the amalgamated fund) in an account established under this section by debiting an amount and crediting that amount to the employer’s reserve, or the employer reserve of another employer for whom the Crown makes contributions to the amalgamated fund, in the same or another account established under this section.