Commonwealth Numbered Regulations

1994 No. 57 SUPERANNUATION INDUSTRY (SUPERVISION) REGULATIONS - REG 9.32

9.32. Subject to regulation 9.33, an actuarial report required under
regulation 9.30 that relates to a public sector superannuation scheme that is
not fully funded must contain, in addition to any other matter:

   (a)  a statement of the value of the assets of the fund at the valuation
        date; and

   (b)  if the actuary considers it appropriate, taking into account the
        proportion of the liabilities of the fund that are being funded-a
        statement recommending, in respect of the 3-year period immediately
        following the valuation date, the rate at which, or the range of rates
        within which, the actuary considers employer contributions should be
        made or, where the actuary considers employer contributions should be
        made at different rates, or within different ranges, in respect of 2
        or more periods within the 3-year period, such different rates or
        ranges or rates; and

   (c)  a statement regarding the adequacy of the funding of the liabilities
        of the fund, having regard to any guarantee given by the Commonwealth
        or by a State or Territory regarding the payment of benefits to
        members and taking into account any appropriations in respect of the
        fund; and

   (d)  if, under section 342 of the Act, a pre-1 July 1988 funding credit has
        been granted or, under Part 12 of these Regulations, has been obtained
        by transfer and a prescribed event referred to in paragraph 342 (4)
        (a) of the Act has occurred-a statement that the prescribed event has
        occurred.