Superannuation (Productivity Benefit) 1997-98 First Interest Factor Declaration

This Declaration may be cited as the Superannuation (Productivity Benefit) 1997-98 First Interest Factor Declaration.

[Note: This Declaration commences on gazettal: see Acts Interpretation Act 1901, ss. 46A and 48.]

Interpretation

In this Declaration:

“Act” means the Superannuation (Productivity Benefit) Act 1988;

“Days” means:

in the case of an employee who becomes a fund employee during the financial year starting on 1 July 1997—the number of days in the period:

starting on the last day of the first pay period of the employee ending after 1 July 1997; and

ending at the end of the day on which an amount first becomes payable under section 4F of the Act; or

in the case of an employee in respect of whom an interim benefit becomes payable under section 6 of the Act during the financial year starting on 1 July 1997—the number of days between:

the last day of the first pay period of the employee ending after 1 July 1997; and

the day on which the interim benefit became payable; or

in the case of an employee who does not become a fund employee during the financial year starting on 1 July 1997 and in respect of whom an interim benefit does not become payable during that year—the number of days between:

the last day of the first pay period of the employee ending after 1 July 1997; and

30 June 1998.

Declared first interest factor

For section 8A of the Act, the declared first interest factor for the financial year starting on 1 July 1997 is:

730.

NOTE

Notified in the Commonwealth of Australia Gazette on 25 June 1997.