CONSTITUTION ACT 1975 - SECT 7D Actuary's second calculation after Governor's election to commute pensions and payment of lump sum

CONSTITUTION ACT 1975 - SECT 7D

S. 7D(1) amended by No. 23/2008 s. 4(2)(3).

    (1)     If an election under section 7B is in operation, the former Governor or, if he or she has died, the former Governor's partner must, within 60 days after the day on which a superannuation contributions surcharge notice was issued in respect of the former Governor's pension or his or her partner's pension, lodge with the Minister—

S. 7D(1)(a) amended by No. 23/2008 s. 4(2).

        (a)     a notice that authorises the Minister to pay the lump sum that is equal to the superannuation contributions surcharge on behalf of the former Governor or his or her partner to the Commissioner of Taxation to be applied wholly towards payment of the superannuation contributions surcharge; and

        (b)     a copy of the superannuation contributions surcharge notice.

    (2)     Within 10 days after the day on which the Minister received the authorisation and a copy of the superannuation contributions surcharge notice under subsection (1), the Minister must cause an actuary—

        (a)     to review the determination made under section 7C(1); and

S. 7D(2)(b) amended by No. 23/2008 s. 4(2).

        (b)     subject to section 7C(4), make any necessary adjustments to the determination and to the pension payable to the former Governor and to any future entitlement of the former Governor's partner to a pension upon the former Governor's death.

    (3)     If an election under section 7B is in operation and the Minister has received an authorisation under subsection (1), the Minister must cause the amount of the lump sum to be paid to the Commissioner of Taxation within the period stated in the superannuation contributions surcharge notice to be applied towards payment of the superannuation contributions surcharge.

S. 7E

inserted by No. 19/2001 s. 6.