State Authorities Superannuation (Ex-Snowy Mountains Hydro-Electric Authority Superannuation Fund Transfer) Regulation 2003
8Transfer of money from former scheme to State Authorities Superannuation Fund
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8 Transfer of money from former scheme to State Authorities Superannuation Fund
8 Transfer of money from former scheme to State Authorities Superannuation Fund
(1) The amount standing to the credit of any account established in respect of the former scheme is to be—
(a) credited to such accounts or reserves of the Fund as STC considers appropriate, and
(b) applied in paying pensions and other amounts which are payable, in accordance with this Regulation or the Act, to or in respect of transferred pensioners and their spouses or de facto partners.
(2) Any amount credited to accounts or reserves under subclause (1) (a) that is not required to meet the purposes referred to in subclause (1) (b) may be applied for any other purposes for which those accounts or reserves may be debited under the Act.