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. 24.
Commencement
2. This determination shall take effect from and including 25 August 1997.
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:
(a) deleting "1 July 1996" (wherever occurring) and inserting in its stead "1 July 1997”; and
(b) deleting "11.7" (wherever occurring) and inserting in its stead "6.7”.
5. The Schedule to the Principal Determination is amended by adding at the end:
“1 July 1996 – 30 June 1997 20.0% per annum”.
Application
6. (1) The provisions of the Principal Determination, as amended by this determination, apply in relation to interest payable in respect of an amount that is a prescribed amount in relation to a person:
(a) if a benefit under Part 5 of the Rules becomes payable in respect of the person - after the date of the commencement of this determination; or
[Military Superannuation and Benefits Act 1991 (Interest) Determination No. 24 (continued)]
(b) if:
(i) a benefit under Part 5 of the Rules ceases to be applicable in respect of the person; or
(ii) in the case of a person to whom a benefit under Part 5 of the Rules is not applicable - the person ceases to be a member;
on or after that date.
(2) An expression used in subclause 6(1) that is defined in the Principal Determination has the same meaning for the purposes of that subclause as it has in that determination.
Charles Kiefel
................................................. .
C. P. Kiefel
(Chairperson)
N. J. Ford D. J. Sutherland
................................................. ..........................................
AIRCDRE N. J. Ford WO D. J. Sutherland
(Trustee) (Trustee)
P. D. Gourley
................................................. .
P. D. Gourley
(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 August 1997