Superannuation Administration Act 1996

A person who, immediately before the repeal of the 1991 Act, held office as a director of the Board of the Corporation—

ceases to hold that office, and

is eligible (if otherwise qualified) to be appointed as a member of the STC Board or the FTC Board under this Act or the AFMC Board under the Superannuation (Axiom Funds Management Corporation) Act 1996.

A person who so ceases to hold office is not entitled to any remuneration or compensation because of the loss of that office.

A person who holds office as the Managing Director of the Corporation and who so ceases to hold office is not entitled to any remuneration or compensation because of the loss of that office under the Public Sector Management Act 1988.