Commonwealth Numbered Acts

SUPERANNUATION ACT 1990 No. 38, 1990 - SECT 16

16. (1) Subject to subsection (2), where benefits (other than a preserved
benefit) become payable under the Rules to, or in respect of, a person who has
ceased to be a member:

   (a)  the Board must pay to the Commonwealth out of the Fund
an amount equal to the person's accumulated funded
contributions; and

   (b)  the Commonwealth must pay to the Board:

        (i)    an amount equal to any lump sum benefit that is payable to,
or in respect of, the person under the Rules; and

        (ii)   if a pension is payable to the person, or to a spouse or child
of the person, under the Rules - an amount equal to each
instalment of that pension that is payable under the Rules.

(2) Where the only benefit that is payable under the Rules to, or in respect
of, a person who has ceased to be a member is a lump sum benefit that does not
exceed the person's accumulated funded contributions, subsection (1) does not
apply in relation to the member.

(3) Where partial invalidity pension is payable to a person who is a member:

   (a)  the Commonwealth must pay to the Board an amount equal
to each instalment of partial invalidity pension payable under the
Rules to the person; and

   (b)  if, immediately before partial invalidity became payable to
the person, the person was an invalidity pensioner - the
Commonwealth must also pay to the Board:

        (i)    where, on the person's becoming an invalidity pensioner, a
pension only became payable to him or her - an amount equal to
the person's accumulated funded contributions at the time when
he or she became an invalidity pensioner; or

        (ii)   where, on the person's becoming an invalidity pensioner, the
person was entitled to receive a lump sum benefit and a
pension - an amount equal to the difference between:

                (A)  the person's accumulated funded contributions at the time
when he or she became an invalidity pensioner; and

                (B)  the amount of the lump sum benefit.

(4) Subject to subsection (5), where a preserved benefit applicable to a
person is payable under the Rules:

   (a)  the Board must pay to the Commonwealth an amount equal
to the balance of the person's accumulated funded contributions
remaining in the Fund; and

   (b)  the Commonwealth must pay to the Board:

        (i)    an amount equal to so much of the preserved benefit as is
payable in a lump sum to, or in respect of, the person; and

        (ii)   if any part of the preserved benefit has been converted into a
pension - an amount equal to each instalment of that pension that
is payable under the Rules.

(5) Where the preserved benefit payable to or in respect of a person under the
Rules consists only of a lump sum benefit that does not exceed the balance of
the person's accumulated funded contributions remaining in the Fund,
subsection (4) does not apply in relation to the person.

(6) The Board must pay into the Fund any amount paid to it under paragraph (1)
(b), subsection (3) or paragraph (4) (b).