Commonwealth Numbered Regulations

1994 No. 211 SUPERANNUATION (PRODUCTIVITY BENEFIT) PENALTY INTEREST DETERMINATION No. 2 - REG 4

4. For the purposes of subsection 4g (1) of the Act, the interest fixed under
that section in relation to a fund on a day is to be calculated using the
formula:
Amount x 0.1045 x Days
365 where:

"Amount" means:

   (a)  the amount that should have been paid to a declared fund under
        paragraph 4e (a) of the Act on the day on which an interim arrangement
        employee became a member of a declared fund; or

   (b)  each amount that should have been paid to a declared fund under
        subsection 4f (1) of the Act on a day ascertained in accordance with
        subsection 4f (2) of the Act;

"Days" means the number of days in the period:

   (a)  commencing on the day on which the amount should have been paid; and

   (b)  ending on the day immediately before the day on which the amount was
        paid.