Commonwealth Numbered Acts

SUPERANNUATION AMENDMENT ACT 1976 No. 32, 1976 - SECT 58

58. Section 90 of the Principal Act is amended by adding at the end thereof
the following sub-section:-

''(5) Sub-section (4) of this section does not apply to the making of a
regulation prescribing the rate of interest in respect of the financial year
ending on 30 June 1976, but the Governor-General shall not make such a
regulation unless the Superannuation Fund Investment Trust has furnished a
report to the Treasurer specifying-

   (a)  the average rate of interest that is determined by the Trust to have
        been earned by the Fund in that financial year; and

   (b)  the rate of interest that, in the opinion of the Trust, should, having
        regard to the average rate of interest and to such other matters as
        the Trust thinks relevant, be prescribed in respect of that financial
        year.''.