Public Authorities Superannuation (Metropolitan Water Sewerage and Drainage Board “A” Class Subsidised Assurance Scheme Transfer) (Savings and Transitional) Regulation 1986 (1986-331) (NSW)

Public Authorities Superannuation (Metropolitan Water Sewerage and Drainage Board "A" Class Subsidised Assurance Scheme Transfer) (Savings and Transitional) Regulation 1986

1 Name of Regulation This Regulation may be cited as the Public Authorities Superannuation (Metropolitan Water Sewerage and Drainage Board "A" Class Subsidised Assurance Scheme Transfer) (Savings and Transitional) Regulation 1986.

2 Definitions (1) In this Regulation: service, in relation to a transferred contributor, means the period during which the contributor has been a member of the scheme. the Act means the Public Authorities Superannuation Act 1985. the Board means the Public Authorities Superannuation Board continued by the Act. the Fund means the Public Authorities Superannuation Fund established, maintained and managed by the Board in accordance with the Act. the scheme means the Metropolitan Water Sewerage and Drainage Board "A" Class Subsidised Assurance Scheme. transferred contributor means a person whose election to contribute to the Fund in accordance with clause 4 (1) has taken effect. (2) In relation to a transferred contributor: (a) the definition of accrued benefit points in section 24 of the Act shall be construed as if a reference in that definition to contributed points figures included a reference to the number of transferred benefit points for the contributor calculated in accordance with clause 5, (b) the definition of average contribution rate per cent in section 24 of the Act shall be construed as if a reference in that definition to the sum of the rates per cent of salary were a reference to the sum of benefit points accrued by the contributor, and (c) the contributor's entry date shall be deemed to be 1 July 1974.