17Refund of deductions

17 Refund of deductions

17 Refund of deductions

(1) Subject to this section, where a member of the police force resigns, or is dismissed, or a probationary member, not being entitled to be granted a gratuity or annual superannuation allowance under this Act, is discharged, there shall be paid to that member from the Fund a lump sum equal to the difference between—

(a) the total of all amounts deducted under this Act from that member’s salary of office, with the addition of interest on those amounts—

(i) in the case of a member who resigned or was discharged (but not in the case of a member who was dismissed)—at the rate of 4.5 per cent per annum compounded on 30 June in each year of that member’s service during the period beginning with 23 November 1984 and ending with 30 June 1990, and also compounded on the date of the member’s resignation or discharge if it occurred during that period, and

(ii) in the case of all members—at the rate from time to time fixed by STC under section 16 of the State Authorities Superannuation Act 1987, compounded on 30 June in each year of the member’s service from and including 1 July 1990, and also compounded on the date of that member’s resignation, dismissal or discharge if it occurs on or after 1 July 1990, and

(b) any amount received by that member as superannuation allowance or gratuity before his or her resignation, dismissal or discharge.

(1A) For the purposes of subsection (1) (a) (ii)—

(a) interest shall not be paid in respect of any period before the day appointed and notified under section 2 (2) of the Police Regulation (Superannuation) Amendment Act 1984, and any amounts deducted from the salary of office of a member of the police force before that day shall be deemed to have been so deducted on that day, and

(b) interest on amounts deducted at different times during the period in respect of which the interest is to be calculated shall, subject to subsection (1) (a) (ii), be calculated in a manner determined by STC.

(2) The amount payable to a member or probationary member of the police force under subsection (1) shall be not less than the amount of deductions made from the member’s salary of office after any amount was last received by the member under this Act as superannuation allowance or gratuity.