23Superannuation

23 Superannuation

(1) Subject to the next succeeding subsection, the superannuation fund of the Commonwealth Bank of Australia existing immediately before the commencing date under section one hundred and ninety‑one of the Commonwealth Bank Act 1945‑1953 shall form part of the superannuation fund established by section one hundred and ten of the Commonwealth Banks Act 1959. (2) For the purpose of making provision in respect of persons who: (a) immediately before the commencing date, were members of the superannuation fund of the Commonwealth Bank of Australia existing under section one hundred and ninety‑one of the Commonwealth Banks Act 1945‑1953; and (b) on, or within three months after, the commencing date, become members of the superannuation fund established by section seventy of the Reserve Bank Act 1959; there shall be paid out of that first‑mentioned superannuation fund into that last‑mentioned superannuation fund such amount as is determined, in accordance with principles approved by the Treasurer, by an actuary appointed by the Governor and the Managing Director.