27AAPreservation of benefit for employees affected by Government initiatives

27AA Preservation of benefit for employees affected by Government initiatives

27AA Preservation of benefit for employees affected by Government initiatives

(1) This Part applies to an employee who transfers employment if—

(a) the employee elects or is required to transfer employment otherwise than with an employer under this Act, and

(b) the Minister certifies that the transfer of employment is as a consequence of a Government privatisation initiative or other Government initiative.

(2) This Part applies to an employee who transfers superannuation coverage if—

(a) the employee, while remaining with his or her existing employer, elects or is required to cease membership of the superannuation scheme established by this Act, and

(b) the Minister certifies that the transfer of superannuation coverage is as a consequence of a Government privatisation initiative or other Government initiative.

(3) This Part applies to an employee if the employer of the person ceases to be an employer under this Act and the Minister certifies that it is as a consequence of a Government privatisation initiative.

(4) The basic benefit, any additional employer contributions benefit and any Commonwealth co-contribution benefit in respect of an employee must be preserved by STC under section 24 if this Part applies to the employee.

s 27AA: Ins 1993 No 42, Sch 1. Am 1996 No 39, Sch 4; 1997 No 42, Sch 1.6 [21]. Subst 2005 No 52, Sch 4 [24]. Am 2013 No 69, Sch 1 [5].