Application of Act to eligible employees affected by Qantas sale
15B Application of Act to eligible employees affected by Qantas sale
In this regulation:
Qantas means Qantas Airways Limited or a company that is a subsidiary of that company.
relevant day means the day on which the Commonwealth ceases to have a controlling interest in Qantas.
the Act means the Superannuation Act 1976.
The Act is modified in accordance with Schedule 11 in its application to each person to whom this subregulation applies.
Subject to subregulation (4), subregulation (2) applies to a person who:
was employed by Qantas immediately before the relevant day; and
was an eligible employee immediately before the relevant day; and
ceased to be an eligible employee because the Commonwealth ceased to have a controlling interest in Qantas.
Subregulation (2) does not apply to a person:
who has made an election under section 137; and
unless the person has requested, before the end of 21 days after section 126A of the Act begins to apply to the person, that subregulation (2) be applied to the person by the Board.
If a person makes a request under paragraph 4 (b) before the relevant day, subregulation (2) is taken to begin to apply to the person on the day after the person ceases to be an eligible employee.
The Act is modified in accordance with Schedule 13 in its application to each person to whom this subregulation applies.
Subregulation (6) applies to a person who:
was employed by Qantas immediately before the relevant day; and
was an eligible employee immediately before the relevant day; and
ceased to be an eligible employee because the Commonwealth ceased to have a controlling interest in Qantas.
This Act’s bill:Explanatory statement
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