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STATUTES AMENDMENT (MEMBERS' BENEFITS) ACT 2010 (NO 15 OF 2010) - SECT 9

9—Insertion of section 7G

After section 7F insert:

7G—Special provisions relating to salary sacrifice by members

        (1)         The Board must, on application under this section, permit a PSS 1 or PSS 2 member who has elected to make a superannuation salary sacrifice to become a PSS 3 member in order to establish a Government contribution account for the member under this Act.

        (2)         If a PSS 1 or PSS 2 member who has elected to make a superannuation salary sacrifice is, before making the election, a member of PSS 3 by virtue of section 7F, the member will be taken for the purposes of this Act to be a member of PSS 3 by virtue of both section 7F and this section.

        (3)         The following provisions apply in connection with the operation of subsection (1):

            (a)         Part 3 Division 3 and section 14C(1) will not apply to a PSS 1 or PSS 2 member who is a PSS 3 member by virtue of this section;

            (b)         a PSS 1 or PSS 2 member who is a PSS 3 member by virtue of this section will not be entitled to either of the following under Part 4 Division 2A:

                  (i)         a member-funded component of benefits;

                  (ii)         an invalidity/death insurance benefit;

            (c)         the Governor may, by regulation, make any other provision as the Governor thinks fit, including by providing that other provisions of this Act do not apply to a PSS 1 or PSS 2 member who is a PSS 3 member by virtue of this section, or apply to such a member subject to any modifications prescribed by the regulations.



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