New South Wales Repealed Regulations

This legislation has been repealed.

SUPERANNUATION (AUSTRALIAN SECURITIES COMMISSION EMPLOYEES) SAVINGS AND TRANSITIONAL REGULATION 1991 - REG 4

4 Preservation of accrued benefit without transferring it to the Commonwealth Fund

(1) If, on being accepted as a member of the Commonwealth Fund, a transferred contributor:

(a) elects to preserve his or her accrued benefit in the State Fund as provided by Division 3A of Part 4 of the State Act, and

(b) does not exercise the entitlement conferred by clause 3 of Schedule 23 to that Act,

the benefit is to be preserved in accordance with that Division as from and including the day on which the election was made.

(2) However, such a transferred contributor may subsequently exercise that entitlement (but no later than 31 July 1993) in which case clause 5 applies to the contributor's preserved benefit.