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This is a Bill, not an Act. For current law, see the Acts databases.
1996-97
The Parliament of
the
Commonwealth of
Australia
HOUSE OF
REPRESENTATIVES
Presented and read a first
time
Superannuation Contributions
Surcharge (Application to the Commonwealth—Reduction of Benefits) Bill
1997
No. ,
1997
(Treasury)
A Bill for an
Act relating to the reduction of the benefits payable to members of unfunded
non-contributory Commonwealth superannuation schemes on account of
superannuation contributions surcharge, and for related purposes
9702520—1,735/3.1.1997—(25/97)
Cat. No. 96 7289 3 ISBN 0644 498676
Contents
A Bill for an Act relating to the reduction of the
benefits payable to members of unfunded non-contributory Commonwealth
superannuation schemes on account of superannuation contributions surcharge, and
for related purposes
The Parliament of Australia enacts:
This Act may be cited as the Superannuation Contributions Surcharge
(Application to the Commonwealth—Reduction of Benefits) Act
1997.
This Act commences on the day on which it receives the Royal
Assent.
Any expression that is used in this Act and in the Superannuation
Contributions Surcharge (Assessment and Collection) Act 1997 has the same
meaning as in that Act.
(1) If the liability of the trustee of an unfunded defined benefits
superannuation scheme to pay the superannuation contributions surcharge that
arose because of the operation of section 5 of the Superannuation
Contributions Surcharge (Application to the Commonwealth) Act 1997 is
discharged under section 7 of that Act, then, despite anything in any trust
instrument, contract or other document or in any legislation, the trustee may
reduce any benefits accruing to or for the member after 20 August 1996
by the amount of the surcharge.
(2) However, subsection (1) does not apply if its application would or
might result in a contravention of the Constitution.