New South Wales Repealed Regulations

This legislation has been repealed.

SUPERANNUATION (AUSTRALIAN SECURITIES COMMISSION EMPLOYEES) SAVINGS AND TRANSITIONAL REGULATION 1991 - REG 6

6 Obligations of the State Board with respect to the disposition of a preserved benefit

If a transferred contributor has, in accordance with clause 5 (1), directed his or her preserved benefit to be paid to the Commonwealth Fund, the State Board must, before paying the benefit to the Commonwealth Board, satisfy itself that the trust deed relating to the Commonwealth Fund includes provisions that adequately provide for the disposition of amounts paid from superannuation schemes to the Commonwealth Board and that those provisions:

(a) reflect the amount of the preserved benefit paid to that Board, and

(b) take into account the period of service of the transferred contributor as a contributor to the State Fund.