Electricity (Articles of the Queensland Electricity Supply Industry Employees' Superannuation Scheme) Amendment Regulation (No. 2) 1993 (Qld)

Queensland Subordinate Legislation 1993 No. 216 Electricity Act 1976 ELECTRICITY (ARTICLES OF THE QUEENSLAND ELECTRICITY SUPPLY INDUSTRY EMPLOYEE’S SUPERANNUATION SCHEME) AMENDMENT REGULATION (No. 2) 1993 TABLE OF PROVISIONS Section Page 1 Short title . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 2 Amended regulation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 3 Amendment of s.3C (Meaning of “salary”) . . . . . . . . . . . . . . . . . . . . . . . . . . 4 4 Amendment of s.6 (Member’s contributions) . . . . . . . . . . . . . . . . . . . . . . . . 4 5 Replacement of s.7 (Employer’s contributions) . . . . . . . . . . . . . . . . . . . . . . 4 7 Employer’s contributions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 6 Replacement of s.11 (Application) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 11 Application of this Part . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 7 Replacement of s.11M (Resignation and Dismissal) . . . . . . . . . . . . . . . . . . 5 11M Benefit on resignation or dismissal . . . . . . . . . . . . . . . . . . . . . . . . . . 5 11MA Preservation of benefit under s.11M . . . . . . . . . . . . . . . . . . . . . . . . . . 6 11MB Interest on preserved amounts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 11MC Payment of funds elected to be preserved . . . . . . . . . . . . . . . . . . . . . 7 11MD Payment of preserved funds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 11ME On re-employment preserved amounts to be used to purchase benefits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8

2 Electricity (Articles of the Queensland Electricity Supply Industry Employee’s Superannuation Scheme) Amendment (No. 2) No. 216, 1993 11MF Effect of election under paragraph (2) of the proviso to s.11M (repealed) before 30 September 1988 . . . . . . . . . . . . . . . . . . . 8 8 Insertion of new s.12B . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 12B Minimum benefit payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 9 Insertion of new ss.18A–18L . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 18A Election by members of SEAQ, NEAQ or REB to convert to the Scheme . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 18B Effect of election under s.18A . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 18C Determination of member’s benefit multiple . . . . . . . . . . . . . . . . . . . 11 18D Purchase of additional benefits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 18E Meaning of “member’s accumulated contributions” . . . . . . . . . . . . 12 18F Superannuation Board to determine extra contribution . . . . . . . . . . 13 18G When additional benefits take effect . . . . . . . . . . . . . . . . . . . . . . . . . 13 18H Personal statement and medical examination of member . . . . . . . . 14 18I Determination of medical classification . . . . . . . . . . . . . . . . . . . . . . 14 18J Determination of member’s benefit multiple if member’s medical classification is not Class A . . . . . . . . . . . . . . . . . . . . . . . . . 14 18K Member’s benefit multiple if medical classification not Class A . . 15 18L If disablement not due to reason for Class (other than Class A) benefit to be as for Class A . . . . . . . . . . . . . . . . . . . . . . . . . 15 10 Insertion of new Parts 5–6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16 PART 5—IMPROVED BENEFITS FOR MEMBERS 23 Application of Part . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16 24 Contributions by employer . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 25 Benefit under ss.30–32 and 35–39 reduced by member’s portion from accumulations fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 26 Preservation of benefit if required under OSSA . . . . . . . . . . . . . . . . 17 27 Definitions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 28 Meaning of “member’s benefit multiple” . . . . . . . . . . . . . . . . . . . . . 20 29 Meaning of “member’s reserve” . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24 30 Retirement between 55 and 65 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25 31 Retirement after 65 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25 32 Retirement on total and permanent disablement . . . . . . . . . . . . . . . 25

3 Electricity (Articles of the Queensland Electricity Supply Industry Employee’s Superannuation Scheme) Amendment (No. 2) No. 216, 1993 33 Pension on temporary disablement . . . . . . . . . . . . . . . . . . . . . . . . . . . 26 34 Cessation of disablement pension on restoration of health . . . . . . . 28 35 Death or total and permanent disablement of disablement pensioner . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28 36 Lump sum benefit if disablement pension continues for 2 years . . . 29 37 Benefit on death of member . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29 38 Benefit for retrenchment or resignation (or termination) for serious ill health . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30 39 Effect of resignation or dismissal . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30 40 Interest on preserved amounts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31 41 Payment of funds elected to be preserved . . . . . . . . . . . . . . . . . . . . . 31 42 Payment of preserved funds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31 43 On re-employment preserved amounts to be used to purchase benefits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32 44 Final average salary where member’s salary reduced . . . . . . . . . . . 32 PART 6—ELECTION BY MEMBER CONTRIBUTING UNDER S.10 TO TRANSFER TO SCHEME 45 Election to transfer to this Scheme . . . . . . . . . . . . . . . . . . . . . . . . . . 33 46 Personal statement and medical examination of member . . . . . . . . 34 47 Determination of medical classification . . . . . . . . . . . . . . . . . . . . . . 34 48 Determination of member’s benefit multiple if member’s medical classification is not Class A . . . . . . . . . . . . . . . . . . . . . . . . . 35 49 Member’s benefit multiple if medical classification not Class A . . 35 50 If disablement not due to reason for class (other than Class A) benefit to be as for Class A . . . . . . . . . . . . . . . . . . . . . . . . . 36 12 Insertion of new Schedule 4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 36 SCHEDULE 4 MEMBER’S RESERVE FACTOR TABLE

4 Electricity (Articles of the Queensland Electricity Supply Industry Employee’s Superannuation Scheme) Amendment (No. 2) No. 216, 1993 ˙ Short title 1. This regulation may be cited as the Electricity (Articles of the Queensland Electricity Supply Industry Employees’ Superannuation Scheme) Amendment Regulation (No. 2) 1993 . ˙ Amended regulation 2. The Articles of the Queensland Electricity Supply Industry Employees’ Superannuation Scheme are amended as set out in this regulation. ˙ Amendment of s.3C (Meaning of “salary”) 3. Section 3C(5)— omit ‘ Part 3 ’, insert ‘ these Articles ’. ˙ Amendment of s.6 (Member’s contributions) 4. Section 6(4)(b)— omit. ˙ Replacement of s.7 (Employer’s contributions) 5. Section 7— omit, insert— ˙ ‘Employer’s contributions ‘7.(1) Unless otherwise provided by these Articles, an employer must make contributions to the Scheme in relation to a contributor to the Scheme in the service of the employer. ‘(2) Subject to subsection (4), the contributions must be— (a) up to and including 30 June 1993—1.395 times the contributions made by the contributor; and (b) from 1 July 1993—1.995 times contributions made by the

5 Electricity (Articles of the Queensland Electricity Supply Industry Employee’s Superannuation Scheme) Amendment (No. 2) No. 216, 1993 contributor. ‘(3) For the purposes of subsection (2), contributions made by a contributor include additional contributions but exclude— (a) voluntary contributions; and (b) extra contributions; made by the contributor. ‘(4) The Governor in Council may from time to time vary the multiple for the purposes of subsection (2)(b) so that the amount of the employer’s contributions is sufficient to ensure the actuarial sufficiency of the Scheme. ’. ˙ Replacement of s.11 (Application) 6. Section 11— omit, insert— ˙ ‘Application of this Part ‘11. Unless otherwise expressly provided in these Articles, only members who are not entitled to benefits mentioned in section 10 or 18 or Part 5, are entitled to benefits under this Part. ’. ˙ Replacement of s.11M (Resignation and Dismissal) 7. Section 11M— omit, insert— ˙ ‘Benefit on resignation or dismissal ‘11M.(1) The Superannuation Board must pay a lump sum benefit to a member who— (a) has not attained 55; and (b) has ceased to be employed in the service of the electricity supply industry— (i) on resignation for other than reason of serious ill health; or

6 Electricity (Articles of the Queensland Electricity Supply Industry Employee’s Superannuation Scheme) Amendment (No. 2) No. 216, 1993 (ii) through the member’s dismissal by the employer. ‘(2) The benefit under subsection (1) is the member’s accumulated contributions of the member. ˙ ‘Preservation of benefit under s.11M ‘11MA.(1) Despite section 11M, a member who— (a) has been a contributor for at least 1 year; and (b) has ceased to be an employee and a member through resignation, other than on account of the member’s misconduct; may, within 3 months of the cessation, elect in writing— (c) not to receive the benefit under section 11M; but (d) to preserve the benefit in the Scheme. ‘(2) The benefit to be preserved is the amount of the member’s reserve, reduced by an amount up to the amount of the member’s portion from the accumulations fund, but so that the benefit is not less than the member’s accumulated contributions. ‘(3) The amount preserved under subsection (2) is to be credited to an account in the former member’s name within the Scheme so as to enable identification at all times of the amounts of— (a) the member’s accumulated contributions as at the cessation of employment with interest credited in accordance with section 11MB; and (b) the balance of the benefit to be preserved (being the member’s reserve less the member’s accumulated balance in the accumulations fund and the member’s accumulated contributions) as at the cessation with interest credited in accordance with section 11MB. ˙ ‘Interest on preserved amounts ‘11MB.(1) Interest is to be credited to the former member’s accounts, mentioned in section 11MA(3), each financial year at a rate determined by

7 Electricity (Articles of the Queensland Electricity Supply Industry Employee’s Superannuation Scheme) Amendment (No. 2) No. 216, 1993 the Superannuation Board in its sole discretion. ‘(2) The Superannuation Board may determine an interim rate of interest if a benefit is to be paid before the determination of the annual rate of interest. ‘(3) In determining the rate of interest to be credited under subsection (1) or (2), the Superannuation Board must take into consideration the net earnings on assets of the Scheme and expenses of administration of the Scheme. ‘(4) An amount preserved under section 11MA(2) on behalf of a former member is to accrue interest from— (a) the member’s cessation of employment; or (b) when the employee’s election to preserve a benefit to which the employee is entitled is received by the employer; whichever is the later, until an event mentioned in section 11MD occurs. ˙ ‘Payment of funds elected to be preserved ‘11MC.(1) If a former member— (a) has elected to preserve a benefit under section 11MA(1); and (b) later notifies the Superannuation Board in writing that the election is no longer to operate; the Superannuation Board must pay to the former member a lump sum equal to the amount credited to an account in the former member’s name within the Scheme mentioned in section 11MA(3)(a). ‘(2) A member who receives an amount under subsection (1)— (a) has no further entitlement under the Scheme; and (b) forfeits the amount standing to the credit of the former member mentioned in section 11MA(3)(b) which becomes an addition to the accumulated balance of the Defined Benefit Account.

8 Electricity (Articles of the Queensland Electricity Supply Industry Employee’s Superannuation Scheme) Amendment (No. 2) No. 216, 1993 ˙ ‘Payment of preserved funds ‘11MD. On a former member— (a) attaining 55; or (b) satisfying the Superannuation Board that the former member is totally and permanently disabled; or (c) dying; or (d) satisfying the Superannuation Board that the former member is departing permanently from Australia; the amount preserved under section 11MA on behalf of the former member and accrued interest is, on written application, to be paid to the former member, the former member’s dependants, beneficiaries or legal personal representative, as the case requires. ˙ ‘On re-employment preserved amounts to be used to purchase benefits ‘11ME. Despite section 11MD, if a former member again becomes a member, the balance of the member’s accounts mentioned in section 11MA(3) is to be applied to the purchase by the member of such benefit entitlement as the Superannuation Board determines. ˙ ‘Effect of election under paragraph (2) of the proviso to s.11M (repealed) before 30 September 1988 ‘11MF. In relation to an employee who, on or before 30 September 1988, made an election under paragraph (2) of the proviso to section 11M(b) (repealed)— (a) the employer’s contribution to the Scheme continues to be as provided in the paragraph (2) to 30 June 1993; and (b) the employer’s contribution to the Scheme is, from 1 July 1993, 2.66 times the employee’s contribution; and (c) from the election, the member’s resignation benefit is the member’s accumulated contributions; and

9 Electricity (Articles of the Queensland Electricity Supply Industry Employee’s Superannuation Scheme) Amendment (No. 2) No. 216, 1993 (d) the member has no entitlement to elect to preserve a benefit under the Scheme. ’. ˙ Insertion of new s.12B 8. After section 12A— insert— ˙ ‘Minimum benefit payable ‘12B.(1) Subject to subsection (2), a benefit payable to a person who ceases to be a member is to be at least the minimum benefit (if any) applicable to the person as determined by the Superannuation Board’s actuary. ‘(2) If a person is also entitled to benefits under the accumulations fund, the minimum benefit is to be determined taking into account those benefits. ‘(3) If it is necessary to meet the requirements of OSSA, the minimum benefit is to be preserved under the conditions prescribed under OSSA. ‘(4) This section applies despite any other provision of these Articles. ‘(5) In this section— “minimum benefit” means the amount of payment or preserved benefit entitlement necessary to relieve the employer from having to pay a charge under the Superannuation Guarantee Charge Act 1992 of the Commonwealth. ’. ˙ Insertion of new ss.18A–18L 9. After section 18— insert— ˙ ‘Election by members of SEAQ, NEAQ or REB to convert to the Scheme ‘18A.(1) A member who contributes to the Scheme under section 18 may elect to contribute to the Scheme under section 6. ‘(2) An election under subsection (1)—

10 Electricity (Articles of the Queensland Electricity Supply Industry Employee’s Superannuation Scheme) Amendment (No. 2) No. 216, 1993 (a) is to be in a form approved for the time being by the Superannuation Board; and (b) is to be lodged with the employer. ‘(3) An election— (a) if made on or before 31 December 1993—is taken to take effect from 1 July 1993; or (b) if made after 31 December 1993—takes effect on its lodgment with the employer. ˙ ‘Effect of election under s.18A ‘18B.(1) Subject to subsection (2), on an election by a member under section 18A taking effect— (a) the benefits, rights and privileges accruing to the member under section 18 cease; and (b) subject to sections 18B to 18K, the benefits, rights, privileges and liabilities set out elsewhere in these Articles apply to the member; and (c) if the member had previously made an election under— (i) paragraph (2) of the proviso to section 5 of the Electricity (Superannuation Scheme) Determination (No. 2) 1988 ; or (ii) paragraph (2) of the proviso to section 5 of the Electricity (Superannuation Scheme) Determination (No. 3) 1988 ; the member is taken to have made an election under section 11M(b)(vii)(2)(repealed) of these Articles. ‘(2) Despite subsection (1), the benefit payable on the resignation of a member who has made an election under section 18A is not to be less than— (a) the benefit that would have been payable under section 18 when the election was made plus interest on the amount at the prescribed rate; plus

11 Electricity (Articles of the Queensland Electricity Supply Industry Employee’s Superannuation Scheme) Amendment (No. 2) No. 216, 1993 (b) the member’s accumulated contributions since the election. ‘(3) In this section— “prescribed rate” means the rate determined by the Superannuation Board that applies to the relevant amount, after considering the earning rate of the Scheme and the period for which the amount was held in the Scheme. ˙ ‘Determination of member’s benefit multiple ‘18C. In relation to a member who makes an election under section 18A, the member’s benefit multiple is— (a) for each complete year of the member’s membership period from when the election became effective until the member attains 60 and pro rata for each additional complete month of the membership period—19.5%; plus (b) for each complete year of the member’s membership period before the election became effective and pro rata for each additional complete month of the membership period— (i) 15% if, when the election became effective, the member was contributing at the rate of at least— (A) 5% of salary; or (B) in the case of a member who is taken to have made an election under section 11M(b)(vii)(2)(repealed) of these Articles—3.75% of salary; or (ii) 10% if, when the election became effective, the member was contributing at the rate of— (A) 3.5% of salary; or (B) in the case of a member who is taken to have made an election under section 11M(b)(vii)(2)(repealed) of these Articles—2% of salary; plus (c) for each complete year of the member’s membership period from when—

12 Electricity (Articles of the Queensland Electricity Supply Industry Employee’s Superannuation Scheme) Amendment (No. 2) No. 216, 1993 (i) the member attains 60; or (ii) the election became effective; whichever is the later, until the member attains 65 and pro rata for each additional complete month of the membership period—12.5%. ˙ ‘Purchase of additional benefits ‘18D.(1) Within 2 months of an election becoming effective under section 18A, a member may elect to make an extra contribution to increase the accrual rate in section 18C(b) to no more than 19.5%. ‘(2) The extra contribution may be by means of— (a) regular deduction from the member’s salary; or (b) lump sum payment; or (c) a combination of the means mentioned in paragraphs (a) and (b). ˙ ‘Meaning of “member’s accumulated contributions” ‘18E.(1) In relation to a member who makes an election under section 18A, the “member’s accumulated contributions” means any contributions by the member to the Scheme under sections 6 and 18(1) with compound interest— (a) to 30 June 1990—at 4% per annum; and (b) from 1 July 1990—at the prescribed rate. ‘(2) Despite any other provision of these Articles, if a member has made an election under section 18D— (a) the member’s accumulated contributions; and (b) the member’s reserve of the member; and (c) in the case of a member whose medical classification is not Class A, the member’s benefit multiple for determining— (i) the lump sum benefit payable because of the member’s

13 Electricity (Articles of the Queensland Electricity Supply Industry Employee’s Superannuation Scheme) Amendment (No. 2) No. 216, 1993 death or total and permanent disablement; or (ii) the disablement pension payable because of the member’s total and temporary disablement; is to be as determined by the Superannuation Board in consultation with its actuary. ‘(3) In this section— “prescribed rate” means the rate determined by the Superannuation Board that applies to the relevant amount, after considering the earning rate of the Scheme and the period for which the amount was held in the Scheme. ˙ ‘Superannuation Board to determine extra contribution ‘18F. The amount or rate of— (a) regular deductions; or (b) lump sum payment; that is the extra contribution under section 18D— (c) is to be determined by the Superannuation Board in consultation with its actuary; and (d) is to be sufficient to cover— (i) the employer’s contribution; and (ii) the member’s contribution; that would otherwise have been required for the increase in the member’s benefit multiple. ˙ ‘When additional benefits take effect ‘18G. The additional benefits that arise from an election under section 18D take effect— (a) on the first regular deduction from the member’s salary under that section; or

14 Electricity (Articles of the Queensland Electricity Supply Industry Employee’s Superannuation Scheme) Amendment (No. 2) No. 216, 1993 (b) on the day after the lump sum is paid to— (i) the Superannuation Board; or (ii) an employer who is required to remit the lump sum to the Superannuation Board. ˙ ‘Personal statement and medical examination of member ‘18H.(1) A member who makes an election under section 18A must provide any evidence and undergo any medical examination required by the Superannuation Board. ‘(2) The Superannuation Board is responsible for the cost of the medical examination and the report that relates to the examination. ˙ ‘Determination of medical classification ‘18I.(1) In relation to a member who has made an election under section 18A, the Superannuation Board must— (a) consider the evidence and medical reports provided in relation to a member under section 18H; and (b) determine a medical classification in accordance with section 5(4)(b) for the member. ‘(2) Until a member complies with section 18H(1), the member’s medical classification is taken to be Class E. ˙ ‘Determination of member’s benefit multiple if member’s medical classification is not Class A ‘18J. If, when a benefit is payable under section 11J(1) in relation to a member who made an election under section 18A, the member’s medical classification is not Class A, the member’s benefit multiple applicable to the benefit is, subject to sections 18K and 18L, to be reduced in accordance with the table set out in section 5(4)(e).

15 Electricity (Articles of the Queensland Electricity Supply Industry Employee’s Superannuation Scheme) Amendment (No. 2) No. 216, 1993 ˙ ‘Member’s benefit multiple if medical classification not Class A ‘18K.(1) A member’s benefit multiple mentioned in section 18J is modified so that the member’s benefit multiple is a percentage calculated as follows— Class A % — [section 18J % x Class A % x service fraction]. ‘(2) In this section— “Class A %” means the member’s benefit multiple that would have applied to the member if the member had a Class A medical classification; “membership period to 60” means the member’s membership period since the member’s election under section 18A to age 60 expressed in years (including a fraction of a year); “section 18J %” means the percentage relevant to the member’s medical classification as determined in accordance with section 18J; “service fraction” means the fraction determined as follows— (a) if the member is younger than 55— 5 – (smaller of 5 and service since election) 5; (b) if the member is 55 but not yet 60— membership period to 60—service since election membership period to 60; (c) if the member is 60 or older—0; “service since election” means the member’s membership period since the member’s election under section 18A expressed in years (including a fraction of a year). ˙ ‘If disablement not due to reason for Class (other than Class A) benefit to be as for Class A ‘18L. Despite sections 18J and 18K, if— (a) a benefit is payable under section 11J(1) in relation to a member

16 Electricity (Articles of the Queensland Electricity Supply Industry Employee’s Superannuation Scheme) Amendment (No. 2) No. 216, 1993 who made an election under section 18A; and (b) the benefit is through the member’s disablement as a result of injuries sustained in an accident; and (c) in the opinion of the Superannuation Board, the accident was not caused by, or attributed to, the impairment that gave rise to the member’s medical classification; then the benefit is payable as if the member’s medical classification were Class A. ’. ˙ Insertion of new Parts 5-6 10. After section 22— insert— ‘PART 5—IMPROVED BENEFITS FOR MEMBERS ˙ ‘Application of Part ‘23. This Part applies to members who— (a) are paying contributions under section 6 at the rate of 5% of salary; or (b) are paying contributions under section 6 at the rate of 3.75% and make an election before 30 June 1994 to contribute under section 6 at the rate of 5% of salary; or (c) between 1 July 1994 and 30 June 1998— (i) elect for this Part to apply to them on such conditions; and (ii) are paying the contributions; as are determined by the Superannuation Board; whether or not with additional contributions under section 9.

17 Electricity (Articles of the Queensland Electricity Supply Industry Employee’s Superannuation Scheme) Amendment (No. 2) No. 216, 1993 ˙ ‘Contributions by employer ‘24.(1) An employer must make contributions to the Scheme in relation to a contributor to the Scheme to whom this Part applies in the service of the employer. ‘(2) The contributions must be 2.255 times the contributions made by the contributor. ˙ ‘Benefit under ss.30–32 and 35–39 reduced by member’s portion from accumulations fund ‘25. Despite any other provision of these Articles, a benefit payable to a member under sections 30 to 32 or 35 to 39 is to be reduced by an amount up to the amount of the member’s portion from the accumulations fund but so that the benefit is not less than the member’s accumulated contributions. ˙ ‘Preservation of benefit if required under OSSA ‘26. Despite any other provision of these Articles, if— (a) a member is eligible to receive a benefit under these Articles; and (b) an amount that is all or part of the benefit must be preserved under OSSA; the amount must be preserved. ˙ ‘Definitions ‘27. In this Part— “disablement pensioner” means a member who is, for the time being, entitled to receive a pension in relation to the member’s disablement; “final average salary” in relation to a member, means the member’s average annual salary during— (a) in the case of a member who was employed in the electricity supply industry for less than 2 years immediately before ceasing to be employed there—the member’s employment; or

18 Electricity (Articles of the Queensland Electricity Supply Industry Employee’s Superannuation Scheme) Amendment (No. 2) No. 216, 1993 (b) in any other case—the 2 years immediately before ceasing to be employed in the electricity supply industry; “former member” means a person who is no longer a member of the Scheme but who remains entitled to payment of a benefit that has been preserved under section 39; “Index number” , in relation to a quarter, means the full time adult average weekly ordinary time earnings Index published by the Australian Statistician for the quarter; “member’s accumulated contributions” — (a) in relation to a member who has not made an election under section 17A(1) or (2) or 18A, means an amount equal to the sum of the following amounts— (i) any contributions by the member to the Scheme under section 6 or 9, after the commencement date, with compound interest— (A) to 30 June 1990—at 5% per annum; and (B) from 1 July 1990—at the prescribed rate; plus (ii) any contributions by the member to the NEAQ Fund or an REB Fund, with compound interest— (A) to the commencement date—at 4% per annum; and (B) from the commencement date to 30 June 1990—at 5% per annum; and (C) from 1 July 1990—at the prescribed rate; plus (iii) if the member was a member of the SEAQ Fund, the Local Government Superannuation Scheme, the BCC Fund, the BCC Provident Fund or another Provident Fund—the amount (if any) that the Superannuation Board determined on or before the commencement date to be the member’s contributions to those funds, with compound interest— (A) to the commencement date—at 4% per annum; and (B) from the commencement date to 30 June 1990—at 5%

19 Electricity (Articles of the Queensland Electricity Supply Industry Employee’s Superannuation Scheme) Amendment (No. 2) No. 216, 1993 per annum; and (C) from 1 July 1990—at the prescribed rate; or (b) in relation to a member who has made an election under section 18A, means an amount equal to any contributions by the member to the Scheme under sections 6 or 18(1), with compound interest— (i) to 30 June 1990—at 4% per annum; and (ii) from 1 July 1990—at the prescribed rate; “member’s portion from the accumulations fund” means the amount, calculated on the day a person ceases to be a member, equal to— A – (B + C + D) where— “A” means the member’s accumulated balance (within the meaning of section 11 of the Rules of the accumulations fund) of the person; “B” means any amount transferred to the accumulations fund to the credit of the person, plus any interest on the amount since the day of transfer; “C” means any amount paid to the accumulations fund to the credit of the person when the person was not a contributing member of the Scheme, plus any interest on the amount; “D” means any amount paid to the accumulations fund to the credit of the person under section 9(2) of the Rules of the accumulations fund, plus any interest on the amount; “prescribed rate” means the rate determined by the Superannuation Board that applies to the relevant amount, after considering the earning rate of the Scheme and the period for which the amount was held in the Scheme; “projected final average salary” in relation to a member, means the member’s final average salary at 60 assuming that— (a) the member continues to be a contributor to the Scheme until attaining 60; and (b) the member’s salary remains unaltered;

20 Electricity (Articles of the Queensland Electricity Supply Industry Employee’s Superannuation Scheme) Amendment (No. 2) No. 216, 1993 “retrenchment” , in relation to an employee, means the termination of the employee’s employment if the termination is approved by the Governor in Council for recognition as retrenchment under the Scheme. ˙ ‘Meaning of “member’s benefit multiple” ‘28.(1) In this Part— “member’s benefit multiple” — (a) in relation to a member who has not made an election under section 18A, unless otherwise provided by section 17A, means— (i) 19 1 / 2 % for each complete year, and pro rata for the remaining part, of the member’s membership period after the commencement date and before the member attains 65; plus (ii) in relation to a member who was a member of any of the SEAQ, NEAQ and REB funds before the commencement date— (A) 19 1 / 2 % for each complete year, and pro rata for the remaining part, of the member’s membership period before the commencement date that the member made contributions at the rate of at least 5 1 / 4 % of salary; plus (B) if the member is making additional contributions to the Scheme—19 1 / 2 % for each other complete year, and pro rata for the remaining part, of the member’s membership period; plus (C) if the member is not making additional contributions to the Scheme—10% for each complete year, and pro rata for the remaining part, of the member’s membership period before the commencement date that the member made contributions at the rate less than 5 1 / 4 % of salary; plus (iii) in relation to a member who was a member of a Provident

21 Electricity (Articles of the Queensland Electricity Supply Industry Employee’s Superannuation Scheme) Amendment (No. 2) No. 216, 1993 Fund before the commencement date— (A) 19 1 / 2 % for each complete year, and pro rata for the remaining part, of the member’s membership period before the commencement date that the member made contributions at the rate of at least 5 1 / 4 % of salary; plus (B) if the member is making additional contributions to the Scheme—19 1 / 2 % for each other complete year, and pro rata for the remaining part, of the member’s membership period; plus (C) if the member is not making additional contributions to the Scheme—10% for each complete year, and pro rata for the remaining part, of the member’s membership period before the commencement date that the member made contributions at the rate less than 5 1 / 4 % of salary; plus (iv) in relation to a member who was a member of the BCC Fund before the commencement date who is making additional contributions to the Scheme—19 1 / 2 % for each complete year, and pro rata for the remaining part, of the member’s membership period before the commencement date; plus (v) in relation to a member who was a member of the BCC Fund before the commencement date and to whom subparagraph (iv) does not apply— (A) 15% for each complete year, and pro rata for the remaining part, of the member’s membership period between 1 April 1973 and the commencement date; plus (B) 9 1 / 2 % for each complete year, and pro rata for the remaining part, of the member’s membership period before 1 April 1973 that the member made contributions at the rate of 3 1 / 2 % of salary; plus (C) 12 1 / 5 % for each other complete year, and pro rata for

22 Electricity (Articles of the Queensland Electricity Supply Industry Employee’s Superannuation Scheme) Amendment (No. 2) No. 216, 1993 the remaining part, of the member’s membership period before 1 April 1973 that the member made contributions at the rate of 4 1 / 2 % of salary; plus (vi) in relation to a member who was a member of the BCC Provident Fund before the commencement date—9 1 / 2 % for each complete year, and pro rata for the remaining part, of the member’s membership period before the commencement date; plus (vii) in relation to a member who was a member of the Local Government Superannuation Scheme before the commencement date— (A) 10% for each complete year, and pro rata for the remaining part, of the member’s membership period before 1 October 1978; plus (B) 19 1 / 2 % for each complete year, and pro rata for the remaining part, of the member’s membership period from 1 October 1978 to the commencement date; or (b) in relation to a member who made an election under section 18A and a further election mentioned in section 23, means 19 1 / 2 % for each complete year, and pro rata for the remaining part, of the member’s membership period to 65 from the date the election was made under section 18A, plus— (i) 15% for each complete year, and pro rata for the remaining part, of the member’s membership period before the election was made under section 18A if, at the election, the member was contributing at the rate of at least— (A) 5% of salary; or (B) in the case of a member who is taken to have made an election under section 11M(b)(vii)(2)(repealed) of these Articles—3.75% of salary; or (ii) 10% for each complete year, and pro rata for the remaining part, of the member’s membership period before the election was made under section 18A if, at the election, the member

23 Electricity (Articles of the Queensland Electricity Supply Industry Employee’s Superannuation Scheme) Amendment (No. 2) No. 216, 1993 was contributing at the rate of— (A) 3 1 / 2 % of salary; or (B) in the case of a member who is taken to have made an election under section 11M(b)(vii)(2)(repealed) of these Articles—2% of salary. ‘(2) Despite any other provision of this section, for the purpose of calculating— (a) a benefit under section 32 or 37; or (b) a benefit under sections 33 to 36; if the member was a full-time employee and under 60 when the member became entitled to receive the benefit, the member’s membership period is taken to include the period from the day the member— (c) in a case mentioned in paragraph (a)—ceased to be an employee; or (d) in a case mentioned in paragraph (b)—first became entitled to a disablement pension; until the member attained, or would have attained, 60. ‘(3) Despite any other provision of this section, for the purpose of calculating— (a) a benefit under section 32 or 37; or (b) a benefit under sections 33 to 36; if the member was a part-time employee and under 60 when the member became entitled to receive the benefit, the member’s membership period is taken to include the following proportion of the period from the day the member— (c) in a case mentioned in paragraph (a)—ceased to be an employee; or (d) in a case mentioned in paragraph (b)—first became entitled to a disablement pension;

24 Electricity (Articles of the Queensland Electricity Supply Industry Employee’s Superannuation Scheme) Amendment (No. 2) No. 216, 1993 until the member attained, or would have attained, 60— working hours full-time hours. ‘(4) In subsection (3)— “full-time hours” means the number of the full-time hours for the same period; “working hours” means the member’s working hours for the part of the member’s membership period before the member ceased to be an employee or became eligible to receive a disablement pension. ˙ ‘Meaning of “member’s reserve” ‘29.(1) This section applies subject to any determination of the member’s reserve of a member under section 17A(7) or 18E(2). ‘(2) For the purposes of this Part, the “member’s reserve” of a member is the greater of the following amounts— (a) the amount that is 2 1 / 2 times the member’s accumulated contributions; (b) the amount calculated as follows— benefit multiple x final average salary x factor. ‘(3) In subsection (2)— “benefit multiple” means the member’s benefit multiple when the member ceased to be a member; “factor” means the factor obtained from the table set out in Schedule 4 according to the member’s age when the member ceased to be a member and interpolating between the factors for whole ages; “final average salary” means the member’s final average salary when the member ceased to be a member.

25 Electricity (Articles of the Queensland Electricity Supply Industry Employee’s Superannuation Scheme) Amendment (No. 2) No. 216, 1993 ˙ ‘Retirement between 55 and 65 ‘30.(1) The Superannuation Board must pay a lump sum benefit to a member, on the member ceasing to be an employee and a member on or after attaining 55 but on or before attaining 65, if a benefit is not payable under section 32 or 37. ‘(2) The benefit is an amount calculated as follows— benefit multiple x final average salary. ‘(3) In subsection (2)— “benefit multiple” means the member’s benefit multiple accrued by the member; “final average salary” means the member’s final average salary. ˙ ‘Retirement after 65 ‘31.(1) The Superannuation Board must pay a lump sum benefit to a member, on the member ceasing to be an employee and a member after attaining 65, if a benefit is not payable under section 32 or 37. ‘(2) The benefit is an amount equal to— (a) the amount of the lump sum benefit that would have been payable in relation to the member had the member ceased to be an employee on attaining 65; plus (b) interest at the prescribed rate from when the member attained 65 until ceasing to be an employee. ˙ ‘Retirement on total and permanent disablement ‘32.(1) The Superannuation Board must pay a lump sum benefit to a member, on the member ceasing to be an employee and a member because of the member’s total and permanent disablement. ‘(2) In the case of a member who has not attained 60 when the member ceases to be an employee and a member, the benefit is an amount calculated

26 Electricity (Articles of the Queensland Electricity Supply Industry Employee’s Superannuation Scheme) Amendment (No. 2) No. 216, 1993 as follows— benefit multiple x projected final average salary. ‘(3) In subsection (2)— “benefit multiple” means the member’s benefit multiple of the member, reduced where applicable, in accordance with section 5(4); “projected final average salary” means the member’s projected final average salary. ‘(4) In the case of a member who has attained 60 but not yet 65 when the member ceases to be an employee and a member, the benefit is an amount equal to the benefit that would have been payable under section 30 had a benefit been payable under section 30. ‘(5) In the case of a member who has attained 65 when the member ceases to be an employee and a member, the benefit is an amount equal to the benefit that would have been payable under section 31 had a benefit been payable under section 31. ‘(6) Despite subsections (2) to (5), the member’s benefit multiple of a member who was a member of any of SEAQ, NEAQ, and REB Funds or the BCC Fund is to be at least the benefit multiple that would have applied under the trust deed of the relevant fund at the commencement date had the member remained a contributor to the fund. ˙ ‘Pension on temporary disablement ‘33.(1) The Superannuation Board must pay a disablement pension to a member who— (a) is suffering temporary disablement; and (b) has not attained 65; and (c) is absent on sick leave approved by the employer; and (d) has exhausted all paid sick leave due to the member; and (e) when first becoming eligible for benefit had been on leave due to incapacity approved by the employer (whether paid or not) for a continuous period of at least 1 month.

27 Electricity (Articles of the Queensland Electricity Supply Industry Employee’s Superannuation Scheme) Amendment (No. 2) No. 216, 1993 ‘(2) The benefit is not payable to a member— (a) in relation to any period of sick leave without pay of less than 1 week; or (b) for a continuous period that exceeds 2 years. ‘(3) The benefit is to continue to be paid— (a) for as long as the member has been granted sick leave without pay by the employer for the period to which the payment relates; and (b) until— (i) the member resumes full-time duty with the member’s employer or, if the member is employed part-time, resumes part-time duty with the member’s employer; or (ii) the member dies; or (iii) the member becomes totally and permanently disabled; whichever first happens. ‘(4) The amount of the disablement pension of a member is 10% of the benefit to which the member would have been entitled under section 32, before the deduction of the member’s portion from the accumulations fund under section 25, had the member been totally and permanently disabled. ‘(5) Despite any other provision of these Articles, the maximum payment that a member is entitled to be paid under this section is the amount that, when added to any worker’s compensation payment and any payment from the employer received by the member after becoming entitled to a disablement pension, does not exceed— (a) for a full-time employee—80% of the member’s projected final average salary; or (b) for a part-time employee—80% of the following proportion of the member's projected final average salary— work hours full-time hours. ‘(6) In subsection (5)—

28 Electricity (Articles of the Queensland Electricity Supply Industry Employee’s Superannuation Scheme) Amendment (No. 2) No. 216, 1993 “full-time hours” means the number of full-time hours for the same week; “work hours” means the number of hours per week that the member was scheduled to work when the member became eligible to receive a disablement pension. ˙ ‘Cessation of disablement pension on restoration of health ‘34.(1) If— (a) a disablement pensioner has not attained 65; and (b) the Superannuation Board, after obtaining the report of a designated medical practitioner, is satisfied the member’s health has been restored so that the member is fit to resume duty with the employer in the member’s former position; the Board must by writing certify to that fact to— (c) the employer; and (d) the disablement pensioner. ‘(2) The disablement pensioner’s pension ceases on— (a) the disablement pensioner resuming duty in the service of the electricity supply industry; or (b) if the disablement pensioner fails to resume duty with the employer—the day before the day on which the member was required to resume duty; whichever is the earlier. ˙ ‘Death or total and permanent disablement of disablement pensioner ‘35.(1) The Superannuation Board must pay a lump sum benefit on the death or total and permanent disablement of a disablement pensioner. ‘(2) The benefit is 10 times the disablement pension the member was receiving or, but for any reduction effected under section 33(5), would have been receiving immediately before the death or total and permanent

29 Electricity (Articles of the Queensland Electricity Supply Industry Employee’s Superannuation Scheme) Amendment (No. 2) No. 216, 1993 disablement. ‘(3) Despite subsection (2), if, under section 5(4)(b), a member has a separate classification in relation to the member’s expectation of life, the benefit payable on the death of a disablement pensioner is to be determined as if the member had been receiving the disablement pension that would have been payable if the member’s classification in relation to disablement was the same as the classification in relation to the member’s expectation of life. ˙ ‘Lump sum benefit if disablement pension continues for 2 years ‘36.(1) If— (a) a member has not attained 65; and (b) the member has received a disablement pension for a continuous period of 2 years; and (c) the Superannuation Board, in its discretion, has determined that the member remains totally and temporarily disabled; the Board must, on the member ceasing to be an employee, pay the member a lump sum benefit. ‘(2) On payment of the lump sum, the member ceases to be a member. ‘(3) The benefit is the member’s reserve of the member. ˙ ‘Benefit on death of member ‘37.(1) The Superannuation Board must pay a lump sum benefit on the death of a member. ‘(2) The benefit is, subject to the proviso to section 5(4)(f), to be an amount equal to the benefit that would have been paid if the member had retired on account of total and permanent disablement when the member died.

30 Electricity (Articles of the Queensland Electricity Supply Industry Employee’s Superannuation Scheme) Amendment (No. 2) No. 216, 1993 ˙ ‘Benefit for retrenchment or resignation (or termination) for serious ill health ‘38.(1) The Superannuation Board must pay a lump sum benefit to a member who has not attained 55 on— (a) the member’s retrenchment; or (b) the member’s resignation (or termination of services by the employer) because of serious ill health—if the Superannuation Board, after obtaining the report or reports of 1 or more medical practitioners designated by the Board, determines that the ill health is not total and permanent disablement but is serious ill health. ‘(2) The benefit is the member’s reserve of the member. ˙ ‘Effect of resignation or dismissal ‘39.(1) If, in relation to a member’s cessation of employment in the electricity supply industry, the member is not entitled to any other benefit under these Articles— (a) the member must elect to receive or to preserve in the Scheme— (i) the balance of the member’s accumulated contributions as at the cessation; or (ii) in the case of a member who made an election under section 18A or 45— (A) the member’s vested benefit; plus (B) the member’s accumulated contributions since the election; and (b) an amount is to be preserved in the Scheme on behalf of the member equal to the difference between the member’s reserve and the amount mentioned in paragraph (a) as at the cessation. ‘(2) In subsection (1)— “member’s vested benefit” means the member’s accrued resignation benefit when the election under section 18A or 45 was made plus

31 Electricity (Articles of the Queensland Electricity Supply Industry Employee’s Superannuation Scheme) Amendment (No. 2) No. 216, 1993 interest at the prescribed rate since the election. ‘(3) An amount preserved under subsection (1) is to be credited to an account in the former member’s name within the Scheme so as to enable identification at all times of amounts of— (a) the amount preserved under subsection (1)(a); and (b) the amount preserved under subsection (1)(b); with interest credited in accordance with section 40. ˙ ‘Interest on preserved amounts ‘40.(1) Interest is to be credited to the former member’s account, mentioned in section 39(3), each financial year at the prescribed rate. ‘(2) The Superannuation Board may determine an interim rate of interest if a benefit is to be paid before the determination of the annual rate of interest. ˙ ‘Payment of funds elected to be preserved ‘41. If a former member— (a) has elected to preserve a benefit under section 39(1)(a); and (b) later in writing notifies the Superannuation Board that the election is no longer to operate; the Superannuation Board must pay to the former member a lump sum equal to the amount credited to an account in the former member’s name within the Scheme mentioned in section 39(3)(a) including interest to the date of payment. ˙ ‘Payment of preserved funds ‘42. If— (a) a former member— (i) having attained 55, applies for payment; or

32 Electricity (Articles of the Queensland Electricity Supply Industry Employee’s Superannuation Scheme) Amendment (No. 2) No. 216, 1993 (ii) satisfies the Superannuation Board that the former member is totally and permanently disabled; or (iii) dies; or (iv) satisfies the Superannuation Board that the former member is departing permanently from Australia; or (b) the payment of the benefit to the former member is approved by the Commissioner of the ISC; the amount preserved— (c) under section 39(1)(b); and (d) if the member has not given a notification under section 41(b), under section 39(1)(a); on behalf of the former member and accrued interest is, on written application, to be paid to the former member, the former member’s dependants, beneficiaries or legal personal representative, as the case requires. ˙ ‘On re-employment preserved amounts to be used to purchase benefits ‘43. Despite sections 41 and 42, if a former member again becomes a member, the balance of the member’s account mentioned in section 39(3) may be applied to the purchase by the member of such benefit entitlement as the Superannuation Board determines. ˙ ‘Final average salary where member’s salary reduced ‘44.(1) If— (a) a member has been employed in the electricity supply industry for at least 2 years; and (b) the salary of the member has been reduced; the final average salary of the member used to calculate the benefit payable under this Part is the greater of—

33 Electricity (Articles of the Queensland Electricity Supply Industry Employee’s Superannuation Scheme) Amendment (No. 2) No. 216, 1993 (c) the member’s final average salary calculated when the member ceased employment; or (d) the average of the member’s annual salary during the 2 years immediately before the member’s salary reduction indexed in accordance with subsection (2). ‘(2) The member’s annual salary mentioned in subsection (1)(d) is to be indexed as follows— average salary x cessation index reduction index. ‘(3) In subsection (2)— “average salary” means the average of the member’s annual salary mentioned in subsection (1)(d); “cessation index” means the Index number published for the quarter 2 quarters immediately before the member ceased employment; “reduction index” means the Index number published for the quarter 2 quarters immediately before the member’s salary reduction. ‘(4) Section 11N applies to a member whose salary was reduced before the member became entitled to benefits under this section. ‘PART 6—ELECTION BY MEMBER CONTRIBUTING UNDER S.10 TO TRANSFER TO SCHEME ˙ ‘Election to transfer to this Scheme ‘45.(1) A member who contributes to the Scheme under section 10(2) or (3) may elect to contribute under section 6 at the rate of 5% of salary. ‘(2) An election— (a) is to be in a form approved by the Superannuation Board; and (b) must be lodged with the Superannuation Board by 30 June 1994.

34 Electricity (Articles of the Queensland Electricity Supply Industry Employee’s Superannuation Scheme) Amendment (No. 2) No. 216, 1993 ‘(3) On an election by a member under subsection (1)— (a) the member’s balance in the Staff Retiring Provident Account is to be used to purchase a member’s benefit multiple under Part 5; and (b) the member’s benefit entitlement under Part 5 on ceasing employment in relation to employment before making an election under subsection (1) is the greater of— (i) the part of the member’s reserve arising from the member’s benefit multiple purchased under paragraph (a); or (ii) the member’s balance that was applied to the purchase of that multiple together with interest at the prescribed rate since the election. ‘(4) For the purposes of subsection (3)(a), the Superannuation Board, at its sole discretion and after consultation with its actuary, is to determine the member’s benefit multiple to be purchased. ˙ ‘Personal statement and medical examination of member ‘46.(1) A member who makes an election under section 45(1) must provide any evidence and undergo any medical examination required by the Superannuation Board. ‘(2) The Superannuation Board is responsible for the cost of the medical examination and the report that relates to the examination. ˙ ‘Determination of medical classification ‘47.(1) In relation to a member who has made an election under section 45, the Superannuation Board must— (a) consider the evidence and medical reports provided in relation to a member under section 46; and (b) determine a medical classification in accordance with section 5(4)(b) for the member.

35 Electricity (Articles of the Queensland Electricity Supply Industry Employee’s Superannuation Scheme) Amendment (No. 2) No. 216, 1993 ‘(2) Until a member complies with section 46(1), the member’s medical classification is taken to be Class E. ˙ ‘Determination of member’s benefit multiple if member’s medical classification is not Class A ‘48. If the member’s medical classification for a member who made an election under section 45 is not Class A, the member’s benefit multiple applicable under section 45(3) to the benefit payable under section 32, 33, 35(3) or 37 is, subject to section 49, to be reduced in accordance with the table set out in section 5(4)(e). ˙ ‘Member’s benefit multiple if medical classification not Class A ‘49.(1) A member’s benefit multiple mentioned in section 48 is modified so that the member’s benefit multiple is a percentage calculated as follows— Class A % – [section 48 % x Class A % x service fraction]. ‘(2) In this subsection— “Class A %” means the member’s benefit multiple that would have applied to the member if the member had a Class A medical classification; “membership period to 60” means the member’s membership period since the member’s election under section 45 to age 60 expressed in years (including a fraction of a year); “section 48 %” means the percentage relevant to the member’s medical classification as determined in accordance with section 48; “service fraction” means the fraction determined— (a) if the member is younger than 55—as follows— 5 – (smaller of 5 and service since election) 5;

36 Electricity (Articles of the Queensland Electricity Supply Industry Employee’s Superannuation Scheme) Amendment (No. 2) No. 216, 1993 (b) if the member is 55 but not yet 60—as follows— membership period to 60—service since election membership period to 60; (c) if the member is 60 or older—0; “service since election” means the member’s membership period since the member’s election under section 45 expressed in years (including a fraction of a year). ˙ ‘If disablement not due to reason for class (other than Class A) benefit to be as for Class A ‘50. Despite sections 48 and 49, if— (a) a benefit is payable in relation to a member who made an election under section 45; and (b) the benefit is through the member’s disablement as a result of injuries sustained in an accident; and (c) in the opinion of the Superannuation Board, the accident was not caused by, or attributed to, the impairment that gave rise to the member’s medical classification; then the benefit is payable as if the member’s medical classification were Class A. ’. ˙ Insertion of new Schedule 4 12. After Schedule 3— insert—

37 Electricity (Articles of the Queensland Electricity Supply Industry Employee’s Superannuation Scheme) Amendment (No. 2) No. 216, 1993 ‘SCHEDULE 4 ‘MEMBER’S RESERVE FACTOR TABLE section 29 Age of member Years 40 or less 41 42 43 44 45 46 47 Factor F .70 .72 .74 .76 .78 .80 .82 .84 Age of member Years 48 49 50 51 52 53 54 55 Factor F .86 .88 .90 .92 .94 .96 .98 1.00 ’. ENDNOTES 1. Made by the Governor in Council on 17 June 1993. 2. Notified in the Gazette on 18 June 1993. 3. Laid before the Legislative Assembly on . . . 4. The administering agency is the Queensland Electricity Commission. The State of Queensland 1993