Superannuation (Interest) Regulations (Amendment) (Cth)

Statutory Rules 1981 No. 381

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Superannuation (Interest) Regulations2

(Amendment)

I, THE GOVERNOR-GENERAL of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, hereby make the following Regulations under the Superannuation Act  1976.

 Dated 12 March 1981.

 ZELMAN COWEN

 Governor-General

 By His Excellency’s Command,

MARGARET GUILFOYLE

Minister of State for Finance

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Commencement

 1. These Regulations shall come into operation on 15 March 1981.

Interpretation

 2.Regulation 4 of the Superannuation (Interest) Regulations is amended—

• (a)

  by omitting “and” from paragraph (d) of the definition of “first day of interest”;

• (b)

  by adding at the end of the definition of “first day of interest” the following word and paragraph:

  • “and

    (f) where the prescribed amount is a prescribed amount referred to in paragraph (m) of the definition of ‘prescribed amount’—

    • (i)

      if the day on which the amount was paid to the Commissioner was a contribution day—that day; or

    • (ii)

      if that day was not a contribution day—the contribution day next following that day;”;

• (c)

  by omitting “and” from paragraph (j) of the definition of “prescribed amount”; and

• (d)

  by adding at the end of the definition of “prescribed amount” the following word and paragraph:

  • “and

    (m) an amount paid to the Commissioner by an eligible employee to whom section 14A applies, being an amount so paid under section 124C of the Act as modified in its application to that employee by regulation 5 of the Superannuation (Continuing Contributions for Benefits) Regulations;”.

 

NOTES

1. Notified in the Commonwealth of Australia Gazette on 13 March 1981.

2. Statutory Rules 1978 No. 253 as amended by 1980 No. 98; 1981 No. 17.