Military Superannuation and Benefits Act 1991 (Interest) Determination No. 44 (Cth)

COMMONWEALTH OF AUSTRALIA

MILITARY SUPERANNUATION AND BENEFITS ACT 1991

DETERMINATION

The Military Superannuation and Benefits Board of Trustees No. 1, pursuant to clause 3 of the Trust Deed made under Part 2 of the Military Superannuation and Benefits Act 1991, DETERMINES as follows:

Citation

1.         This determination may be cited as the Military Superannuation and Benefits Act 1991 (Interest) Determination No. 44.

Commencement

2.         This determination shall take effect from and including 25 October 1999.

Principal Determination

3.         In this determination “the Principal Determination” means the Military Superannuation and Benefits Act 1991 (Interest) Determination No. 1, as amended.

Amendments to the Principal Determination

4.         Clause 5 of the Principal Determination is amended by deleting “the exit rate of interest of 7.5% per annum” (wherever occurring) and inserting in its stead “the exit rate of interest of 2.0% per annum”.

5.         The Schedule to the Principal Determination is amended by inserting “9” in Column 1 before the following entry:

“1 July 1998 – 30 June 1999   8.3% per annum”.

Charles Kiefel

.........................................................

C.P. Kiefel

(Chairperson)

L. C. Roberts   R. C. Swanwick

.........................................................   .........................................................

GPCAPT L.C. Roberts   WOFF R.C. Swanwick 

(Acting Trustee)      (Trustee) 

P. D. Gourley   M. Sharpe

.........................................................       .........................................................

P.D. Gourley                            M.J. Sharpe AM 

(Trustee)      (Trustee) 

The Common Seal of the Military Superannuation and Benefits Board of Trustees No. 1 was hereunto affixed by authority of the Board.

Dated this         twenty- second         day of                 October         1999