Superannuation Act 1976

There shall be paid from the new Fund to the Commonwealth an amount equal to the amount by which the value of the net assets of the existing Fund exceeds the sum of:

the amount referred to in the definition of amount available for distribution in subsection 176(1) as the surplus amount;

the amount defined in subsection 177(1) as the amount available for allocation as basic contributions; and

the amount defined in subsection 177(1) as the amount available for allocation as supplementary contributions.

The Minister may approve the transfer, subject to such conditions (if any) as he or she determines, of the excess established under subsection (1) from the new Fund to the Commonwealth in such manner, in such instalments, and at such times during the period of 10 years commencing on the commencing day, as he or she determines.