94Transfer of members of MWCESF

94 Transfer of members of MWCESF

(1) On the commencement of section 41 of the Superannuation Acts (General Amendment) Act 1995, a person who is a member of the Melbourne Water Corporation Employees' Superannuation Fund to whom section 42(2) of the Metropolitan Bridges Highways and Foreshores Act 1974 or section 47(1), 48(1), 49(1) or 51(1) of the Town and Country Planning (Transfer of Functions) Act 1985 applies is transferred to the Fund.

(1A) Despite the transfer of a member under this section to the Fund—

(a) the member is entitled to receive the same benefits that he or she would have been entitled to receive had he or she not been so transferred; and

(b) the member is entitled to have his or her rights and obligations determined in accordance with the provisions of the governing instrument of the Melbourne Water Corporation Employees' Superannuation Fund as in force immediately before the transfer.

(1B) For the purposes of subsection (1A) the Board has in respect of a member the duties and powers conferred on the trustees of the Melbourne Water Corporation Employees Superannuation Fund by or under the provisions of the governing instrument of the Melbourne Water Corporation Employees' Superannuation Fund as in force immediately before the transfer.

S. 94(1C) inserted by No. 4/1996
s. 117, amended by No. 13/1999 s. 13(1).

(1C) Without derogating from subsections (1A) and (1B), sections 71A, 83 and 85 apply to and in respect of a transferred member.

S. 94(1D) inserted by No. 13/1999 s. 13(2).

(1D) Subsection (1A) is subject to—

(a) any relevant specified standards; and

(b) any provisions of a relevant Commonwealth or Victorian law relating to anti-discrimination.

S. 94(1E) inserted by No. 95/2000 s. 6(11).

(1E) Without derogating from subsections (1A) and (1B), a transferred member who is entitled to a deferred benefit under section 94 or 95 may elect in writing to the Board to—

S. 94(1E)(b) substituted by Nos 40/2004 s. 28(10), 37/2007 s. 41(1).

(b) have the lump sum rolled over or transferred within the superannuation system as nominated by the member.

S. 94(1F) inserted by No. 95/2000 s. 6(11).

(1F) The method of calculating the conversion under subsection (1E) is to be determined by the Minister on the advice of an actuary appointed by the Board.

S. 94(1G) inserted by No. 70/2003 s. 30.

(1G) Subsection (1A) is subject to the provisions of Part 7A.

S. 94(1H) inserted by No. 70/2003 s. 30.