South Australian Numbered Acts

STATUTES AMENDMENT (MISCELLANEOUS SUPERANNUATION MEASURES NO 2) ACT 2004 (NO 51 OF 2004) - SECT 15

15—Amendment of section 38EB—Rollover accounts and co-contribution accounts

        (1)         Section 38EB(1)—delete subsection (1) and substitute:

        (1)         The Board must—

            (a)         maintain a rollover account in the name of a contributor for whom an amount of money has been carried over from another superannuation fund or scheme to the Scheme; and

            (b)         maintain a co-contribution account in the name of a contributor in respect of whom a co-contribution has been paid to the Board.

        (2)         Section 38EB—after subsection (2) insert:

        (2a)         A contributor's co-contribution account must be credited with the amount of any co-contribution paid to the Board in respect of the member.

        (3)         Section 38EB(3)—after "rollover account" insert:

and co-contribution account

        (4)         Section 38EB(4)(b)—after "rollover accounts" insert:

and co-contribution accounts

        (5)         Section 38EB(6)—after "rollover account" insert:

or co-contribution account

        (6)         Section 38EB(8)—after "rollover account" wherever occurring insert:

or co-contribution account