Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) In this section:
"notional interim benefit" , in relation to a person, means the amount of the interim benefit that, under section 8, would have been payable in respect of the person if he or she had ceased to be a qualified employee on 30 June 1990.
(2) The amount of interim benefit that accumulates in respect of service by an interim arrangement employee in the year commencing on 1 July 1990 or a subsequent year is the amount calculated using the formula:
where:
"Notional contributions" means the sum of what would have been the contributions made under paragraphs 4F(1)(a) and (aa) for the employee in respect of the employee's pay periods and quarters in the year if he or she had been a fund employee in the year.
"First factor" means the declared first interest factor for the year applied in relation to the employee.
"Second factor" means the declared second interest factor for the year applied in relation to the employee.
"Notional benefit" means the employee's notional interim benefit (if any).
"Past accumulations" means the amounts (if any) that accumulated under this subsection in respect of the employee in the preceding years.
(3) Where an interim benefit becomes payable in respect of a person in a financial year commencing on or after 1 July 1990, the amount of that benefit is the sum of:
(a) the person's notional interim benefit (if any); and
(b) the amount that accumulated in respect of service by the person under subsection ( 2) in respect of that year; and
(c) the amounts (if any) that accumulated under that subsection in respect of the person in the preceding years.