11Establishment of the Fund

#### 11 Establishment of the Fund 11 Establishment of the Fund > > (1) The Board shall establish, and shall maintain and administer, the State Authorities Superannuation Fund. > > > (2) The Public Authorities Superannuation Fund established under the [Public Authorities Superannuation Act 1985](/view/html/inforce/current/act-1985-041) is amalgamated with, and forms part of, the Fund. > > > (3) STC shall cause to be paid to the Fund— > > > > > (a) contributions or payments made by employers and employees, > > > > > (b) income derived from investment of the Fund, and any profit made from realisation of any investment of the Fund, > > > > > (c) money borrowed for the purposes of the Fund, and > > > > > (c1) any fees paid to STC arising under the family law superannuation legislation or Part 5AA, and > > > > > (d) any other amounts payable to the Fund. > > > (4) STC shall cause to be paid from the Fund— > > > > > (a) by transfer from the Fund to the Administration Account—administration costs incurred by STC under the [Superannuation Administration Act 1996](/view/html/inforce/current/act-1996-039) and administration costs arising under the family law superannuation legislation or Part 5AA, > > > > > (b) such amounts as are necessary to satisfy any liability of the Fund with respect to tax payable under any Commonwealth taxation law or an amount of superannuation contributions surcharge payable, > > > > > (c) the benefits payable under this Act and any other prescribed superannuation scheme, and > > > > > (c1) other amounts payable by STC and arising under the family law superannuation legislation or Part 5AA, and > > > > > (d) any other amounts payable from the Fund. > > > (5) If a loss is incurred in realising any investment forming part of the assets of the Fund, the Fund is accordingly reduced by the amount of that loss. > > **s 11:** Am 1988 No 136, Sch 1 (2); 1991 No 96, Sch 6; 1996 No 39, Sch 4; 1997 No 149, Sch 1.6 \[2\] \[3\]; 2003 No 77, Sch 11 \[3\]–\[5\].