13Transfer of former contributors under earlier Act

13 Transfer of former contributors under earlier Act

13 Transfer of former contributors under earlier Act

(1) In this clause:

exit date, in relation to a former employee, means the day on which the former employee ceased employment with an employer, that cessation of employment being:

(a) the only such cessation of employment of the former employee, or

(b) where there was more than one such cessation of employment of the former employee—the later or latest of those cessations of employment,

or, if the former employee attained the age of 65 years before any such cessation of employment, the day on which the former employee attained that age.

former employee means a person who, immediately before 1 July 1985, was the holder of a current insurance policy or was a contributor to the Provident Fund or the Benefits Fund and:

(a) who ceased to be such a holder or contributor before the commencement of this Regulation, or

(b) who, having made a valid election in accordance with clause 4, 5 or 6 before 1 January 1987, ceased to be such a holder or contributor before the election took or takes effect.

(2) This clause does not apply to any former employee who was the holder of a current insurance policy or was a contributor to the Provident Fund or the Benefits Fund and who resigned from his or her employment if, in the opinion of the Board, the former employee will be paid, or has been paid, a supplementary benefit:

(a) specified under an industrial award or agreement, or

(b) at the discretion of the former employee’s employer.

(3) A former employee shall be deemed to have made an election under section 11 of the Act (election to contribute to the Fund) which took effect on the day immediately preceding his or her exit date and, with respect to such an election, section 11 of the Act shall be construed as if subsections (2) and (3) of that section had not been enacted.

(4) A former employee is not entitled to apply for or be granted additional benefit cover under section 12 of the Act (additional benefit).

(5) Where, by virtue of subclause (3), a former employee is deemed to have become a contributor, the Board shall calculate the benefit that would have been payable to that former employee under the provisions of the Act.