18AUSCOAL Superannuation Fund (the Amalgamated Fund)

18 AUSCOAL Superannuation Fund (the Amalgamated Fund)

18 AUSCOAL Superannuation Fund (the Amalgamated Fund)

(1) On the commencement of Schedule 2 to the Coal and Oil Shale Mine Workers (Superannuation) Further Amendment Act 1994—

(a) the COSAF Fund is amalgamated with the Coal and Oil Shale Mine Workers Superannuation Fund (as established under this section as in force before that commencement), and

(b) the fund so established is continued with the name COALSUPER Retirement Income Fund (“the Amalgamated Fund”).

(2) The Amalgamated Fund is to consist of—

(a) all money that, immediately before the commencement of Schedule 2 to the Coal and Oil Shale Mine Workers (Superannuation) Further Amendment Act 1994, was credited to the Coal and Oil Shale Mine Workers Superannuation Fund and the COSAF Fund, and

(b) money that is required or authorised to be paid to the Amalgamated Fund by or under this or any other Act or by the COALSUPER Trust Deed.

Note.

The Amalgamated Fund has been renamed the AUSCOAL Superannuation Fund by amendment of the Trust Deed and Rules.

(3) The following reserves and accounts are to be established in the Amalgamated Fund—

(a) a reserve in respect of Part 2 of the Fund, comprising—

(i) the mine workers’ special accounts, and

(ii) the mine workers’ transferred benefits account, and

(iii) the mine workers’ special salary sacrifice account,

(b) a reserve in respect of Part 3 of the Fund, including (but not limited to)—

(i) the pension account, and

(ii) the dormant members’ account,

(c) such other accounts and reserves as may be established by the Corporate Trustee for the efficient management of the Fund.

s 18: Am 1947 No 39, sec 2 (1) (c). Subst 1951 No 52, sec 5 (1) (b). Am 1957 No 54, sec 5 (1) (b); 1971 No 17, sec 7 (1) (a); 1978 No 28, Sch 1 (27); 1983 No 150, Schs 1 (2), 2 (6); 1992 No 81, Sch 1 (2). Subst 1994 No 85, Sch 2 (19). Am 1994 No 85, Sch 3 (23); 2000 No 17, Sch 1 [6]; 2008 No 35, Sch 1 [12].