47DBenefits payable in respect of reduced value units

#### 47D Benefits payable in respect of reduced value units 47D Benefits payable in respect of reduced value units > > (1) Subject to this section, pensions are payable in respect of reduced value units as if they were contributory units. > > > (2) Notwithstanding anything in this or any other Act, but subject to this section, the sum of $3.30 per fortnight shall, in respect of reduced value units, be the unit of pension. > > > (3) Where a pension becomes payable under section 28A to a contributor— > > > > > (a) the fortnightly pension, payable to the contributor in respect of a reduced value unit that is allocated to the contributor and that the contributor is deemed by section 47C (6) to have held for not less than 2 years and 6 months, shall be the amount that bears to $3.30 the same proportion as the fortnightly pension that would be payable in respect of that unit had it been a contributory unit bears to $5.50, and > > > > > (b) pension is not payable to the contributor in respect of a reduced value unit that is allocated to the contributor and that the contributor is deemed by section 47C (6) to have held for less than 2 years and 6 months. > > > (4) Where a pension becomes payable under section 29 (2) in respect of contributory units for which a contributor has contributed, the fortnightly pension payable in respect of each of the contributor’s reduced value units shall be the amount that bears to $3.30 the same proportion as the fortnightly pension payable in respect of each of those contributory units bears to $5.50. > > > (5), (6) (Repealed) > > > (7) The pension payable in respect of reduced value units is subject to automatic adjustment in accordance with Division 6. > > > (8) If STC has made a determination under section 61RA in relation to a pension payable in respect of reduced value units, the amount of the pension is reduced by the amount specified in STC’s determination. > > **s 47D:** Ins 1976 No 101, Sch 7 (4). Am 1977 No 137, Sch 1 (16); 1978 No 143, Sch 2 (24); 1988 No 133, Sch 2 (15); 1993 No 111, Sch 6 (47); 1996 No 39, Sch 4; 1997 No 42, Sch 1.8 \[14\]; 1998 No 72, Sch 1.4 \[10\].