Contribution equal to deferred contributions under previous Act
88 Contribution equal to deferred contributions under previous Act
Where:
under an agreement entered into under section 78 or section 79 of the Defence Forces Retirement Benefits Act 1959, or of that Act as amended and in force from time to time; or
under section 79A of that Act, or of that Act as amended and in force from time to time, or under section 44, 45, 46 or 47 of the Defence Forces Retirement Benefits Act 1962, or of that Act as amended and in force from time to time or under section 54, 55, 56 or 57 of the Defence Forces Retirement Benefits Act 1963, or of that Act as amended and in force from time to time;
payment of any contributions or contribution, or of part thereof, payable by a pre‑1959 contributor has been deferred, there is payable to the Commonwealth by him a contribution under this Act equal to the amount of the deferred contributions or contribution, or the part thereof, and compound interest at the rate of 5% per annum upon that amount, and he is not otherwise liable to make any payment in respect of the deferred contribution or contributions.
For the purposes of this Act, a contribution paid under this section, other than such part of that contribution as consists of interest, shall, for the purposes of this Act, be deemed to be a contribution made under the previous legislation.
The statute text is free to read above. View subscription options to unlock the case-law research tools for each provision.