State Authorities Superannuation (Transitional Provisions) Regulation 1988 (1988-274) (NSW)

State Authorities Superannuation (Transitional Provisions) Regulation 1988

Part 1 General

1 Name of Regulation This Regulation may be cited as the State Authorities Superannuation (Transitional Provisions) Regulation 1988.

2 Commencement This Regulation shall take effect on 1 April 1988.

3 Definitions (1) In this Regulation— Board means the SAS Trustee Corporation established under the Superannuation Administration Act 1996. current Act means the State Authorities Superannuation Act 1987. earlier Act means the Public Authorities Superannuation Act 1985. earlier Fund means the Public Authorities Superannuation Fund established in accordance with the earlier Act. final average salary and final salary have the same meanings as they have in section 36 of the current Act. new Fund means the State Authorities Superannuation Fund established by the Board in accordance with the Superannuation Administration Act 1987. pension means a pension payable under this Regulation. superannuation year means the period that commenced or commences on 1 April in any calendar year and ended or ends on 31 March in the next ensuing calendar year. (2) In this Part, Part 6 (clause 46 excepted) and Part 7— transferred contributor means a person who has become a contributor by virtue of clause 3 of Schedule 3 to the current Act (savings and transitional provisions).

4 Transferred contributors (1) If, immediately before 1 April 1988, a transferred contributor was, in accordance with section 12 of the earlier Act (additional benefit), covered for the additional benefit, that contributor— (a) shall be taken to be covered for the additional benefit under the current Act, and (b) shall pay the additional benefit levy as required by section 22 (2) of that Act (approval of application) as if that contributor had lodged with the Board an application under section 20 of that Act (additional benefit) which had been approved by the Board. (2) If, immediately before 1 April 1988, any allowances or other kinds of remuneration were treated as salary for the purposes of the earlier Act in relation to a transferred contributor, they shall continue to be treated as salary for the purposes of the current Act, but only as regards that contributor.