Schedule Sch 2 - Superannuation (CSS) Transfer Arrangements Regulations - Modifications — Certain employees of Commonwealth Accommodation and Catering Services Limited | Zoe

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Schedule Sch 2 - Superannuation (CSS) Transfer Arrangements Regulations - Modifications — Certain employees of Commonwealth Accommodation and Catering Services Limited | Zoe

Schedule 2 Modifications — Certain employees of Commonwealth Accommodation and Catering Services Limited

(regulation 5)

	Modifications
Section
127	Insert after subsection (1AA) the following subsection:
	‘(1B) This Division applies to and in relation to a person who:(a) becomes an eligible employee on 8 June 1980;(b) is, on that day, employed by Commonwealth Accommodation and Catering Services Limited; and(c) was, immediately before so becoming an eligible employee, a member of the superannuation scheme known as the Commonwealth Hostels Provident Fund,as if:(d) his employment by Commonwealth Accommodation and Catering Services Limited before becoming an eligible employee had been terminated on 7 June 1980 otherwise than on the ground of invalidity or of physical or mental incapacity to perform the duties of his employment; and(e) the transfer value payable to or in respect of the person were payable by way of a lump sum.’.
128	Insert after subsection (1) the following subsection:
	‘(1A) Where:(a) the Minister authorizes the trustees of the Commonwealth Hostels Provident Fund to pay so much of the transfer value payable under that superannuation scheme in respect of an eligible employee as is equal to the whole or part of the employer component of the transfer value to the Commissioner after the expiration of the period referred to in paragraph (1) (b); and(b) the trustees notify the Commissioner in writing of the amount of that employer component,that amount shall be deemed, for the purposes of subsection (1), to have been paid to the Commissioner before the expiration of that period.’.
	Omit subsection (2), substitute the following:
	‘(2) Where a person makes an election referred to in paragraph (1) (a) to pay an amount (in this section referred to as the “transferred amount ”) to the Commissioner:(a) so much of the transferred amount as is equal to the employee component of the transfer value, or to the sum of the employee components of the transfer values, as the case may be, shall, upon receipt by the Commissioner, be paid by the Commissioner into the Superannuation Fund and, for the purposes of this Act, the amount so paid by the Commissioner into the Superannuation Fund shall, subject to subsection (3), be deemed to be basic contributions paid by the person to the Commissioner under this Act; and
	(b) so much of the transferred amount as is equal to the employer component of the transfer value, or the sum of the employer components of the transfer values, as the case may be, together with any interest payable by the trustees of the Commonwealth Hostels Provident Fund under an authority referred to in paragraph (1A) (a), shall, upon receipt by the Commissioner, be paid by the Commissioner to the Commonwealth.’.
	Omit from subsection (3) ‘(other than so much of that transferred amount as is worked out under paragraph (2) (c))’.Omit subsection (4), substitute:
	‘(4) If, on the person ceasing to be an eligible employee:(a) a lump sum benefit becomes payable to or in respect of him or her under section 80 or 111; and(b) the amount or part of the amount of the transferred amount that is equal to the employer component of the transfer value, or the sum of the employer components of the transfer values, as the case may be, is an amount that, whether or not the person engaged in further employment, was payable to the person on the termination of his or her previous employment under a superannuation scheme applicable to that employment;there is payable to or in respect of the person an additional lump sum benefit of an amount equal to the total of:(c) the amount referred to in paragraph (b); and(d) the amount that would have accrued by way of interest on that amount if it had been paid into the Fund on the day on which that amount was paid to the Commonwealth by the Commissioner.’.
	Omit subsection (4AA).Omit subsection (5).Insert before subsection (6) the following subsections:
	‘(5B) Upon an eligible employee referred to in subsection 127 (1B) ceasing to be an eligible employee or, if he ceases to be an eligible employee on more than one occasion, upon his first ceasing to be an eligible employee, there shall be added to the period that, but for this subsection, would be his period of contributory service the period that is the quotient, expressed in years and fractions of a year, of the number of whole dollars contained in the employer component of the transfer value payable under the Commonwealth Hostels Provident Fund in respect of the eligible employee divided by the number of whole dollars contained in the amount that is equal to 12½ per cent of the annual rate of salary of the employee on 8 June 1980.‘(5C) Where an eligible employee referred to in subsection 127 (1B) is on leave of absence without pay on8 June 1980, a reference in subsection (5B) to the annual rate of salary of the eligible employee on that date shall be read as a reference to the annual rate of salary that would have been payable to the employee on that date if the employee had not been on leave.’.
	Omit paragraph (6) (b), substitute:
	‘(b) the employer component of a transfer value payable to or in respect of a person is the part of the transfer value that was based upon contributions by an employer or employers of the person.’.
	Omit subsection (8).