Commonwealth Numbered Regulations

1989 No. 306 SUPERANNUATION (FORMER ELIGIBLE EMPLOYEES) REGULATIONS (AMENDMENT) - REG 4

4. The Principal Regulations are amended by adding at the end the following
Schedule:
SCHEDULE 4
Regulation 7
MODIFICATIONS-EMPLOYEES OF AIDC LTD.
Section    Modifications 137        Omit subsections (3) and (4). 138 Omit the

section. 139        Omit subsection (1), substitute the following subsection:


"(1) Where a person:

   (a)  who was, immediately before 20 November 1989, an eligible
employee, being employed by AIDC Ltd; and

   (b)  who, on or after that date but before 22 December 1989,
becomes a member of either of the following superannuation schemes,
namely:

        (i)    The Australian Industry Development Corporation Executive
Superannuation Plan; or

        (ii)   The Australian Industry Development Corporation Staff
Superannuation Plan;
and thereby ceases to be an eligible employee;
makes an election under section 137 as a consequence of so ceasing to
be an eligible employee, deferred benefits are, subject to this
Division, applicable in respect of the person if, at the time when
the person so ceased to be an eligible employee, he or she had
completed one year of eligible employment.".
           Insert in subsection (2) "referred to in subsection (1)" after "a

person".
Omit paragraph (2) (b), substitute the following paragraph:

"(b) the date of his or her death;".
Insert in paragraph (2) (c) "when the person has ceased to be
           employed by AIDC Ltd. and" after "being a date".

Omit paragraph (2) (d), substitute the following paragraphs:

"(d) if the person is not employed by AIDC Ltd. on the day on
which he or she attains the age of 65 years-the day on which the
person attains that age; or

   (e)  if the person is employed by AIDC Ltd. on the day on which he
or she attains the age of 65 years-the day immediately following the
day on which he or she ceases to be so employed.".
Omit subsections (3), (4), (6) and (7).
141        Omit the section.