New South Wales Repealed Regulations

This legislation has been repealed.

SUPERANNUATION (FIRST STATE COMPUTING EMPLOYEES) TRANSITIONAL REGULATION 1992 - REG 4

4 Transfer of preserved benefit to First State Computing Superannuation Fund

(1) If:

(a) a contributor exercises the contributor's entitlement to make provision for a preserved benefit in the State Fund, and

(b) the contributor is therefore entitled to be paid the actuarially calculated lump sum value of that benefit in accordance with clause 3 (1) of Schedule 23 to the Act on ceasing to be a contributor, and

(c) the contributor exercises that entitlement within 3 months after the commencement of this Regulation,

the Board is required to pay an amount equal to that lump sum value to the First State Computing Superannuation Fund.

(2) The payment must be made as soon as practicable after the exercise of the entitlement.

(3) The exercise of an entitlement to make provision for a preserved benefit within 3 months after the commencement of this Regulation is taken to have had effect on and from 31 July 1992.