{"id":"F2008B00173","name":"Superannuation (Productivity Benefit) 1998-99 Second Interest Factor Declaration","slug":"superannuation-productivity-benefit-1998-99-second-interest-factor-declaration","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":"172 of 1998","makingDate":null,"administeringDepartment":null,"currentVersion":{"id":72776,"registerId":"commonwealth-F2008B00173-current","compilationNumber":null,"startDate":"2026-04-02","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Superannuation (Productivity Benefit) 1998-99 Second Interest Factor Declaration","content":"![](image.001.png)\n\nStatutory Rules 1998 No. 1721\n\n\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\n\nSuperannuation (Productivity Benefit) 1998-99 Second Interest Factor Declaration\n\nI, JOHN JOSEPH FAHEY, Minister for Finance and Administration, make the following Declaration under paragraph 3E (1) (b) of the Superannuation (Productivity Benefit) Act 1988.\n\nDated 22 June 1998.\n\nJOHN FAHEY\n\nMinister for Finance and Administration\n\n\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\n\nCitation:\n\n1. This Declaration may be cited as the Superannuation (Productivity Benefit) 1998-99 Second Interest Factor Declaration.\n\n> Note This Declaration commences on gazettal: see Acts Interpretation Act 1901, ss 46A and 48.\n\nInterpretation\n\n2. In this Declaration:\n\n“Act” means the Superannuation (Productivity Benefit) Act 1988;\n\n“Days” means:\n\na. in the case of an employee who becomes a fund employee during the financial year starting on 1 July 1998—the number of days in the period:\n\n(i) starting on the day following the last day of the last pay period of the employee ending before 1 July 1998; and\n\n(ii) ending at the end of the day on which an amount first becomes payable under section 4F of the Act; or\n\nb. in the case of an employee in respect of whom an interim benefit becomes payable under section 6 of the Act during the financial year starting on 1 July 1998—the number of days between:\n\n(i) the day following the last day of the last pay period of the employee ending before 1 July 1998; and\n\n(ii) the day on which the interim benefit became payable; or\n\nc. in the case of an employee who does not become a fund employee during the financial year starting on 1 July 1998 and in respect of whom an interim benefit does not become payable during that year—the number of days between:\n\n(i) the day following the last day of the last pay period of the employee ending before 1 July 1998; and\n\n(ii) 30 June 1999.\n\nDeclared second interest factor\n\n3. For section 8A of the Act, the declared second interest factor for the financial year starting on 1 July 1998 is:\n\n0.0589 x Days\n\n365\n\n\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\n\n> Note: NOTE\n\n> Note: 1. Notified in the Commonwealth of Australia Gazette on 29 June 1998.","sortOrder":0}],"analysis":{"kimi_summary":{"content_quality":"ok","complexity_score":2,"scope_assessment":{"changed":false,"description":"This declaration performs exactly the narrow, technical function it was designed for: setting a specific interest factor for a single financial year under the parent Act. There is no scope creep."},"complexity_factors":["Very short document (3 operative sections plus notes)","Only 2 defined terms ('Act' and 'Days')","Simple mathematical formula with one variable","No cross-references to other legislation beyond the enabling Act","Straightforward conditional logic with 3 mutually exclusive scenarios for calculating 'Days'","No nested exceptions or sub-delegations"],"plain_english_summary":"This declaration sets the \"second interest factor\" at 5.89% (0.0589) for the 1998–99 year to calculate interest on certain Superannuation (Productivity Benefit) Act 1988 benefits. \n\nIt affects Commonwealth public sector employees whose employment status changed that year (joining, leaving, or receiving interim payments), producing a daily‑adjusted interest amount based on relevant days."},"flash_summary":{"complexity_score":3,"scope_assessment":{"changed":false,"description":"This Declaration does not change who is covered by the Act or amend substantive eligibility rules. It only sets the numeric second interest factor and specifies how to calculate \"Days\" for the 1998–99 year, thereby altering the arithmetic used to compute certain payable amounts under the Act (ss 4F, 6, 8A)."},"complexity_factors":["Simple arithmetic formula (0.0589 × Days / 365) but requires day‑count computation.","Three alternative definitions of \"Days\" with date calculations tied to last pay‑period end, benefit payment dates, or 30 June 1999.","Cross‑references to provisions of the Act (ss 4F, 6, 8A) to determine when the factor applies.","Timing and commencement detail (commences on gazettal; applies to financial year starting 1 July 1998).","Low administrative discretion — numeric declaration made by the Minister but operationalised by paying/administrating bodies."],"plain_english_summary":"**What it does:** Declares the numerical \"second interest factor\" used to calculate productivity benefit payments under the Superannuation (Productivity Benefit) Act 1988 for the 1998–99 financial year. It sets the factor as 0.0589 × Days / 365 and defines how to count \"Days\" in three situations tied to pay‑period end dates and the dates benefits become payable (see ss 4F, 6, 8A). The Minister (John Fahey) made the declaration; it mechanically changes the interest portion applied to specified superannuation payments."},"flash_summary_failed":{"failed":true,"reason":"Unauthenticated. Configure AI_GATEWAY_API_KEY or use a provider module. Learn more: https://ai-sdk.dev/unauthenticated-ai-gateway","source":"analysis-cron"}},"importantCases":[],"_links":{"self":"/api/acts/superannuation-productivity-benefit-1998-99-second-interest-factor-declaration","history":"/api/acts/superannuation-productivity-benefit-1998-99-second-interest-factor-declaration/history","analysis":"/api/acts/superannuation-productivity-benefit-1998-99-second-interest-factor-declaration/analysis","conflicts":"/api/acts/superannuation-productivity-benefit-1998-99-second-interest-factor-declaration/conflicts","importantCases":"/api/acts/superannuation-productivity-benefit-1998-99-second-interest-factor-declaration/important-cases","documents":"/api/acts/superannuation-productivity-benefit-1998-99-second-interest-factor-declaration/documents"}}