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State Authorities Superannuation (Hunter District Water Board Employees’ Provident Fund Transfer) (Savings and Transitional) Regulation 1990
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Turn the raw legal text into a practical explanation grounded in State Authorities Superannuation (Hunter District Water Board Employees’ Provident Fund Transfer) (Savings and Transitional) Regulation 1990.
10 Hunter Water Board to be billed for the excess amount of the guaranteed benefit
(1) The amount by which any benefit payable under clause 8 or 9 exceeds the benefit which the transferred contributor would have been entitled to under the provisions of the Act must be paid by the SAS Board.
(2) If any benefit amount is paid by the SAS Board under subclause (1), that Board must deliver to the Hunter Water Board a statement of account for that amount.
(3) Within 1 month after a statement of account is delivered to the Hunter Water Board, that Board must pay the amount specified in the statement to the SAS Board.