Western Australian Consolidated Regulations

COAL INDUSTRY SUPERANNUATION REGULATIONS 1990 - REG 7

7 .         Benchmark amount

        (1)         Subject to subregulations (2) and (3), in these regulations —

        benchmark amount means —

            (a)         until 1 July 1999, $31 452; and

            (b)         on and after that date, the benchmark amount on the previous 30 June increased by —

                  (i)         either —

                        (A)         an amount equal to the increase (if any) in the index of Average Weekly Ordinary Time Earning for full-time adults published by the Australian Statistician for the year ending on the previous 31 March; or

                        (B)         such lesser amount as is determined by the Board on the recommendation of the actuary;

                and

                  (ii)         any additional amount agreed between the Board and all employers.

        (2)         The Board may, on the recommendation of the actuary, determine that benchmark amount is to be increased quarterly on 1 January, 1 April, 1 July and 1 October each year instead of annually on 1 July.

        (3)         If the Board makes a determination under subregulation (2), the increase to be effected under subregulation (1)(a)(i) is to be equal to the increase (if any) in the index of Average Weekly Ordinary Time Earning for full-time adults published by the Australian Statistician for the quarter ending on the previous 31 September, 31 December, 31 March or 31 June respectively.

        [Regulation 7 inserted in Gazette 14 May 1996 p. 2027; amended in Gazette 8 Sep 1998 p. 4908-9.]

[ 8.         Deleted in Gazette 14 May 1996 p. 2027.]

[ 9.         Deleted in Gazette 21 Aug 2009 p. 3266.]