Western Australian Consolidated Acts Western Australian Consolidated Acts (1) Where a
contributor under this Act is at the time when he becomes a contributor liable
to contribute to the Railway Death Benefit and Endowment Fund, and, as
provided for in section 33, he continues, after he has become a
contributor under this Act, to contribute to the Railway Death Benefit and
Endowment Fund, such contributor under this Act may, at any time with the
consent of the Board, and notwithstanding any law, regulation or by-law
regulating or affecting the Railway Death Benefit and Endowment Fund to the
contrary, transfer or assign his rights (if any) as a contributor to the
Railway Death Benefit and Endowment Fund to the Board and request the Board to
continue payment of contributions to such Fund for and on behalf of the
contributor.
(2) Where a transfer
or assignment is made under subsection (1) the Board shall duly pay the
contributions necessary to protect and preserve the rights transferred or
assigned, and upon such rights maturing or accruing shall pay to the
contributor or to his legal representatives to be administered as part of his
estate any sums received by the Board in satisfaction of the rights
transferred or assigned, less the amount of the contributions paid by the
Board with compound interest thereon at the rate of 4% per annum from the
respective dates of payment.
(3) This section shall
not apply where the contributor has, in accordance with the regulations or
by-laws relating to the Railway Death Benefit and Endowment Fund, nominated
some person or persons other than himself to receive from such Fund the
benefits attributable to the contributions credited by the contributor to such
Fund unless and until such person or persons join with the contributor in the
transfer or assignment to the Board of the rights referred to in
subsections (1) and (2).
[Section 83 8 amended by No. 106 of 1965
s.15; No. 49 of 1996 s.64.]
[Heading inserted by No. 50 of 1961 s.6.]
[Heading inserted by No. 50 of 1961 s.6.]