20Provisions applicable to the Reserve Bank Service

20 Provisions applicable to the Reserve Bank Service

(1) The Reserve Bank shall, on the appointment to the Reserve Bank Service of a person under this Part, appoint that person at a rate of remuneration not less than the rate of remuneration to which he was entitled as an officer of the Commonwealth Bank Service immediately before the commencing date. (2) An officer appointed to the Reserve Bank Service under this Part shall not, except for incapacity or misconduct, be retired or dismissed from the Reserve Bank Service before the officer has attained the age of 60 years. (3) Provision shall be made: (a) in any terms and conditions of service of officers of the Reserve Bank Service determined by the Reserve Bank, or prescribed by regulations under the Reserve Bank Act 1959, that have reference to the length of service of officers; and (b) in any rules made for or in relation to the superannuation fund established under section seventy of that Act that have reference to the length of service of officers; for the recognition as service in the Reserve Bank Service by an officer appointed to that Service under this Part of: (c) service by him as an officer of the Commonwealth Bank of Australia under the Commonwealth Bank Act 1911, or under that Act as amended from time to time, or service by him in the Commonwealth Bank Service; and (d) service by him within three months after the commencing date in the Commonwealth Banking Corporation Service. (4) The reference in subsection (2) of section sixty‑six of the Reserve Bank Act 1959 to officers appointed under Part VII of that Act shall be read as including a reference to officers appointed to the Reserve Bank Service under this Part.