Commonwealth Consolidated Acts

SUPERANNUATION ACT 1990 - SECT 14A

  (1)   If the designated employer of a member deducts from the member's salary an amount that the employer is permitted by subsection   14(1) to deduct from that salary:

  (a)   the employer is to pay the amount deducted to CSC; and

  (b)   if an amount deducted is not paid to CSC on the day on which it is deducted and CSC directs that this paragraph is to apply in relation to the amount--the employer is to pay to CSC interest on the amount, at any rate that CSC determines from time to time, in respect of the period beginning on the day on which the amount is deducted and ending on the day immediately before the day on which the amount is paid.

  (2)   CSC is to pay to the PSS Fund any interest paid to CSC under paragraph   (1)(b).