Western Australian Consolidated Acts Western Australian Consolidated Acts (1) The Treasurer may,
by order published in the Gazette , fix the transfer time.
(2) The Treasurer must
not make an order under subsection (1) unless the Treasurer has received
from an actuary a certificate —
(a)
given not more than 30 working days before the time to be fixed as the
transfer time; and
(b)
certifying that the actuary considers that if the transfer time were the time
when the certificate is given, the assets assigned by operation of
section 58 to TrustCo as trustee of GESB Superannuation would be
sufficient and appropriate to enable TrustCo to meet its obligations as
trustee of GESB Superannuation.
(3) In giving a
certificate for the purposes of subsection (2) an actuary is to have
regard to —
(a) the
type and value of the assets and liabilities to be assigned by operation of
section 58 to TrustCo as trustee of GESB Superannuation; and
(b) the
investment options selected by members of the statutory schemes; and
(c) the
level of reserves the actuary reasonably considers a prudent trustee of GESB
Superannuation would, in the ordinary course of the prudent management of the
fund, maintain.
(4) The Treasurer is
to cause a copy of —
(a) the
transfer order; and
(b) the
actuarial certificate referred to in subsection (2); and
(c) any
other actuarial advice received by the Treasurer in relation to the assets and
liabilities to be assigned by operation of section 58; and
(d) the
order made under subsection (1),
to be laid before each
House of Parliament or dealt with under section 78 within 3 working days
after the order made under subsection (1) is published in the Gazette .
[Section 56 inserted by No. 25 of 2007
s. 16.]