“134 Payments by Commonwealth to approve“134 Payments by Commonwealth to approved superannuation schemes

“134 Payments by Commonwealth to approved superannuation schemes

“(1) After 28 February 1991, the Commonwealth must pay to the person or body administering an approved superannuation scheme an amount calculated by:

(a) aggregating the amounts determined in accordance with subsection (3) to be payable to that person or body in respect of persons referred to in section 132 to whom section 126A applies by reason of their becoming members of that superannuation scheme; and

(b) deducting from that aggregate all payments made in accordance with subsection (2).

“(2) The Commonwealth must pay to the person or body referred to in subsection (1), following a request in writing to the Commissioner by that person or body, the amount determined by that person or body to be payable in respect of a person referred to in paragraph (1) (a) who has ceased to be a member of that superannuation scheme before 1 March 1991.

“(3) The amount payable in respect of a person referred to in section 132 is an amount equal to the sum of:

(a) 2½ times the amount of the person’s accumulated basic contributions on the person’s last day of service; and

(b) the amounts (if any) that have been paid by the Commissioner to the Commonwealth under paragraph 128 (2) (b) in relation to the person; and

(c) the amounts (if any) that have been paid to the Commonwealth under subsection 119J (8) of the superseded Act in relation to the person; and

(d) the amount determined by the Commissioner having regard to:

(i) the number of non-contributory units (if any) that were, under the superseded Act, applicable in relation to the person on 30 June 1976 or immediately before the person became entitled to invalidity pension (as the case may be); and

(ii) the contributions that would have been paid by the person in respect of those units if they had been contributory units of pension in respect of which the person had contributed at rates based on a retiring age of 65; and

(e) the amount of any interest determined by the Minister to be payable in respect of the amounts referred to in paragraphs (a), (b), (c) and (d).

“(4) The amount to be paid under subsection (1) to the person or body administering an approved superannuation scheme is to be paid:

(a) in such instalments; and

(b) at such times;

as the Minister determines, having regard to:

(c) any relevant actuarial advice obtained by the Minister; and

(d) any other matters that the Minister considers relevant.

“(5) Payments under subsection (1) or (2) are payable out of moneys lawfully available for that purpose.

“(6) A determination of the Minister for the purposes of subsection (4) is a disallowable instrument for the purposes of section 46A of the Acts Interpretation Act 1901.