Superannuation (Productivity Benefit) 1993-1994 Second Interest Factor Declaration (Cth)

Statutory Rules 1993   No. 185¹

__________________

Superannuation (Productivity Benefit) 1993-1994 Second Interest Factor Declaration

I, RALPH WILLIS, Minister for Finance, make the following Declaration under paragraph 3E (1) (b) of the Superannuation (Productivity Benefit) Act 1988.

Dated 25 June 1993.

RALPH WILLIS

Minister for Finance

____________

Citation

1.   This Declaration may be cited as Superannuation (Productivity Benefit) 1993-1994 Second Interest Factor Declaration.

[NOTE:  This Declaration commences on gazettal: see Acts Interpretation Act 1901, ss. 46A and 48.]

Interpretation

2.   In this Declaration:

“Act” means the Superannuation (Productivity Benefit) Act 1988;

“Days” means:

(a)   in the case of an employee who becomes a fund employee—the number of days in the period:

(i)   commencing on the day following the last day of the last pay period of the employee ending before 1 July 1993; and

(ii) ending at the end of the day on which an amount first becomes payable under section 4F of the Act; or

(b)   in the case of an employee who becomes entitled to receive an interim benefit under section 6 of the Act—the number of days between:

(i)   the day following the last day of the last pay period of the employee ending before 1 July 1993; and

(ii)   the day on which the employee became entitled to receive the benefit; or

(c)   in the case of an employee who neither becomes a fund employee nor becomes entitled to receive an interim benefit—the number of days between:

(i)   the day following the last day of the last pay period of the employee ending before 1 July 1993; and

(ii)   30 June 1994.

Declared second interest factor

3.   For the purposes of section 8A of the Act, the declared second interest factor for the financial year commencing on 1 July 1993 is:

.

NOTE

1.   Notified in the Commonwealth of Australia Gazette on  30 June 1993.