4Reconstitution of the Fund

#### 4 Reconstitution of the Fund 4 Reconstitution of the Fund > > (1) There shall, for the purposes of this Act, continue to be a fund to be known as the State Superannuation Fund. > > > (2) STC is responsible for maintaining and managing the Fund. > > > (3) STC must ensure that there are paid into the Fund— > > > > > (a) contributions or payments made by employers and employees, and > > > > > (b) income derived from investment of the Fund, and any profit made from realising any investment of the Fund’s assets, and > > > > > (c) money borrowed for the purposes of the Fund, and > > > > > (c1) fees paid to STC arising under the family law superannuation legislation or Part 4A, and > > > > > (d) any other amounts properly payable to the Fund. > > > (4) STC must ensure that there are paid from the Fund— > > > > > (a) the administration costs incurred by STC in relation to the administration of the Fund, including administration costs arising under the family law superannuation legislation or Part 4A, and > > > > > (b) the amount of any benefit payable under this Act, and > > > > > (c) amounts in repayment of money borrowed for the purposes of the Fund, and > > > > > (c1) amounts payable by STC and arising under the family law superannuation legislation or Part 4A, and > > > > > (d) such amounts as are necessary to satisfy any liability of the Fund with respect to tax payable under a Commonwealth taxation law or an amount of superannuation contributions surcharge payable by the Fund, and > > > > > (e) any other amounts that are properly 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 4:** Am 1919 No 30, sec 3 (c); 1972 No 66, sec 3 (b). Subst 1988 No 133, Sch 1 (2). Am 1991 No 96, Sch 6; 1996 No 39, Sch 4; 1997 No 149, Sch 1.7 \[2\] \[3\]; 2003 No 77, Sch 12 \[3\]–\[5\].