Western Australian Consolidated Regulations Western Australian Consolidated Regulations (1) Subject to
subregulation (4) and regulation 44(2) and (3), where an
employer —
(a) is
wound up or dissolved; or
(b)
amalgamates with or transfers the whole of its engagements to any other person
or body,
the interest in the
Fund of that employer and the members in service with it at the time of the
winding up, dissolution, amalgamation or transfer, as the case may be, shall
be ascertained by the Board on the advice of the actuary and applied by the
Board in the manner set out in subregulation (2).
(2) Where
subregulation (1) applies in relation to an employer the interest in the
Fund referred to in subregulation (1) shall be applied by the Board in
the following order —
(a) in
providing as far as possible through the Fund or otherwise the benefits to
which the members referred to in subregulation (1) would have been
entitled had they voluntarily left service with that employer; and
(b) by
distributing any balance then remaining for the benefit of those members in
such manner as the Board on the advice of the actuary considers equitable.
(3) The benefits
referred to in subregulation (2) shall be —
(a) in
such form and provided by such arrangements as are determined by the Board;
and
(b) paid
to the members referred to in subregulation (1) in full discharge of all
claims by or in respect of them in relation to any rights or benefits under
these regulations or in connection with or arising out of the Fund.
(4) Where a member
referred to in subregulation (1) enters service with another employer as
from the time of the winding up, dissolution, amalgamation or transfer of
engagements of the previous employer this regulation does not apply to or in
relation to that member.
[Regulation 35 amended in Gazette
14 May 1996 p. 2035.]