Victorian Consolidated Legislation

Constitution Act 1975 - SECT 7D

Actuary's second calculation after Governor's election to commute pensions and payment of lump sum

7D. Actuary's second calculation after Governor's election to commute pensions
and payment of lump sum



(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-

   (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

   (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.