Superannuation (First State Computing Employees) Transitional Regulation 1992
4 Transfer of preserved benefit to First State Computing
(a) a contributor exercises the contributor’s entitlement to
make provision for a preserved benefit in the State Fund,
(b) the contributor is therefore entitled to be paid the actuarially
calculated lump sum value of that benefit in accordance with clause 3 (1) of
Schedule 23 to the Act on ceasing to be a contributor, and
(c) the contributor exercises that entitlement within 3 months after
the commencement of this Regulation,
the Board is required to pay an amount equal to that lump sum value to
the First State Computing Superannuation Fund.
(2) The payment must be made as soon as practicable after the exercise
of the entitlement.
(3) The exercise of an entitlement to make provision for a preserved
benefit within 3 months after the commencement of this Regulation is taken to
have had effect on and from 31 July 1992.