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Superannuation Administration (Local Government Superannuation Scheme Transitional Provisions) Regulation 1997
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Turn the raw legal text into a practical explanation grounded in Superannuation Administration (Local Government Superannuation Scheme Transitional Provisions) Regulation 1997.
16A Transfer of liabilities
(1) A liability of a superannuation scheme referred to in Part 2 to pay any amount that is due and payable under the scheme to a former member of or contributor to the scheme by virtue of his or her employment by a transferred employer is by this subclause transferred to LGSS Pty Ltd.
(2) Assets transferred under clause 16 or 16AA, and assets derived from the investment of such assets, may be applied to meet any liability transferred by this clause.
(3) In this clause, transferred employer includes a predecessor of a transferred employer.
cl 16A: Ins 10.7.1998. Am 28.3.2002.