NSWIn ForceAct
Superannuation (Axiom Funds Management Corporation) Act 1996
63Proceeds of sale
Start here
Get a plain-English read of 63
Turn the raw legal text into a practical explanation grounded in Superannuation (Axiom Funds Management Corporation) Act 1996.
63 Proceeds of sale
63 Proceeds of sale
(1) Any proceeds received for the sale of AFML must be paid to STC as trustee for the STC schemes, for payment into an STC fund or funds to be paid and apportioned among the funds and reserves as determined by the Treasurer after consulting STC.
(2) There are to be deducted from these amounts before payment into the STC fund or funds such amount as the Treasurer approves to meet the expenses reasonably incurred in connection with the sale of AFML and repayments to be made as provided for by section 59 (3).