New South Wales Consolidated Acts

STATE AUTHORITIES SUPERANNUATION ACT 1987 - SECT 15

15 Other accounts and reserves and assets portfolios

(1) STC may establish and maintain within the Fund such other accounts and reserves as, in the opinion of STC, are necessary or convenient for the administration of the Fund and this Act.

(2) Without limiting subsection (1), STC may establish separate asset portfolios, comprising assets of the Fund allocated by STC, for the purposes of the Fund.

(3) A contributor or former contributor may at any time lodge with STC an election to have the contributor or former contributor’s account, or part of the account, treated, for the purpose of allocating Fund earnings, as being invested as part of one or more particular asset portfolios nominated by STC to the contributor or former contributor. The contributor or former contributor may elect to revoke or vary any such election.

(4) STC may determine that a contributor’s or former contributor’s account, or part of an account, is to be treated, for the purpose only of allocating the income of the Fund, as being invested as part of one or more particular asset portfolios if the contributor or former contributor does not make an election or revokes an election without making another election.

(5) STC may treat an account (other than a contributor’s or former contributor’s account) or a reserve, or part of an account or reserve, for the purpose only of allocating Fund income, as being invested as part of one or more particular asset portfolios.