Transfer of assets etc. to approved superannuation schemes
240 Transfer of assets etc. to approved superannuation schemes
CSC must, at such times as CSC determines, transfer to the person or body administering an approved superannuation scheme:
such assets of the Fund (including investment assets of the Fund) as are determined by CSC to be assets that fairly and equitably represent the accumulated contributions and Fund accumulated employer contributions of those persons who:
have become members of the approved superannuation scheme; and
were, immediately before becoming such members, eligible employees who were employed by, or were members of the staff of, the authority or body that established the scheme and any benefits payable in respect of those persons under Part VIAB or Subdivision B of Division 2 of Part IX; and
such liabilities (if any) (including investment liabilities of the Fund) as are determined by CSC to be liabilities relating to those assets.
The statute text is free to read above. View subscription options to unlock the case-law research tools for each provision.