12Guarantee

12 Guarantee

12 Guarantee

(1) This clause applies to a person who is a contributor to the Benefits Fund when he or she becomes a transferred contributor and who:

(a) was qualified for additional death benefits and additional disablement benefits (within the meaning of Part 3B of the earlier Act), or

(b) if not so qualified, is subsequently accepted for additional benefit cover pursuant to section 12 of the Act.

(2) Notwithstanding any other provision of this Regulation, where:

(a) a benefit under the Act becomes payable to, or in relation to, a person to whom this clause applies, and

(b) in the opinion of the Board, a greater benefit would have been payable under section 15BN (4), 15BUC (3) or 15BUF (2) of the earlier Act if the person had not become a transferred contributor and those sections had applied to or in respect of the person,

the Board shall, instead of paying the benefit that became payable under the provisions of the Act, pay the same benefit as that which would have been payable under section 15BN (4), 15BUC (3) or 15BUF (2) of the earlier Act.

(3) Whenever the Board pays a benefit pursuant to subclause (2), the Board shall debit to the appropriate employer reserve established in the Fund under section 9 of the Act (certain accounts and reserves to be established) the difference between the amount of the benefit so paid and the amount that, but for subclause (2), would have been paid under the Act.