South Australian Numbered Acts

SOUTHERN STATE SUPERANNUATION (INSURANCE, SPOUSE ACCOUNTS AND OTHER MEASURES) AMENDMENT ACT 2006 (NO 40 OF 2006) - SECT 7

7—Amendment of section 8—Other accounts to be kept by Board

Section 8(1)—delete subsection (1) and substitute:

        (1)         The Board must, in respect of each financial year—

            (a)         maintain proper accounts of—

                  (i)         receipts of members' contributions and spouse members' contributions paid under this Act; and

                  (ii)         payments to, on behalf of, or in respect of, members and spouse members; and

                  (iii)         payments made from members' contribution accounts to spouse accounts; and

                  (iv)         amounts transferred from spouse accounts to other accounts under section 26F; and

            (b)         prepare financial statements in relation to those receipts, payments and transfers.

        (1a)         The financial statements must set out the aggregate of the amounts debited against spouse member accounts under section 26I in respect of premiums for death insurance.