Victorian Consolidated Legislation

County Court Act 1958 - SECT 14AC

Actuary's second calculation after election of the judges to commute pensions and payment of lump sums

14AC. Actuary's second calculation after election of the judges to commute
pensions and payment of lump sums



(1) If an election under section 14AA is in operation, a former judge or, if
he or she has died, the judge's partner or eligible child must, within 60 days
after the day on which a superannuation contributions surcharge notice was
issued in respect of the judge's pension or his or her partner's or eligible
child'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 judge or his or her partner or eligible child 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 14AB(1); and

   (b)  subject to section 14AB(4), make any necessary adjustments to the
        determination and to the pension payable to the former judge and to
        any future entitlement of the former judge's partner or eligible child
        to a pension upon the judge's death.

(3) If an election under section 14AA 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.