New South Wales Repealed Acts

This legislation has been repealed.

ELECTRICITY (PACIFIC POWER) ACT 1950 - SECT 72O

72O Election to contribute to New South Wales Retirement Fund

(1) The Minister may, by order published in the Gazette, declare that a specified date that is not earlier than 3 months later than the publication of the order is the election date for the purposes of this Subdivision.

(2) A prescribed person may, by notice in writing given to the New South Wales Retirement Board on or before the election date, elect to become a contributor to the New South Wales Retirement Fund established under the New South Wales Retirement Benefits Act 1972 .

(3) Where the New South Wales Retirement Board receives an election under subsection (2), it shall forthwith notify the Local Government Superannuation Board and the Commission accordingly.

(4) Where a prescribed person makes an election under subsection (2):

(a) he or she ceases to participate in the prescribed superannuation scheme by reason of which he or she is a prescribed person, and

(b) he or she becomes a contributor under the New South Wales Retirement Benefits Act 1972 ,

on the election date and he or she shall commence to contribute under that Act on and from a later date determined by the New South Wales Retirement Board and notified to the Commission.

(5) A person who becomes a contributor pursuant to subsection (4) ceases to be entitled to any rights, benefits or privileges that, but for this section, would have accrued to the person under or in connection with the superannuation scheme in which, pursuant to that subsection, the person ceases to participate, except to the extent that the person benefits under this subdivision.