Military Superannuation and Benefits Act 1991 (Interest) Determination No. 50 (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. 50.

Commencement

2.         This determination is taken to have commenced on 27 January 2000.

Principal Determination

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

Amendment of the Principal Determination

4.         Clause 5 of the Principal Determination is amended by deleting “the exit rate of interest of 10.6% per annum” (wherever occurring) and inserting in its stead “the exit rate of interest of 15.3% per annum”.

Application of amendment

5.         The amendment made by clause 4 ceases to have effect on 25 February 2000.

Charles Kiefel

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

C.P. Kiefel

(Chairperson)

R. C. Brown   R. Swanwick

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

BRIG R.C. Brown   WOFF R.C. Swanwick 

(Trustee)      (Trustee) 

P. Charley   M. Sharpe

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

P.J. Charley                            M.J. Sharpe AM 

(Acting 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               Fourteenth     day of                April          2000