Taxation Laws Amendment (Superannuation) Act 1992 (208 of 1992)

Part 3   AMENDMENT OF THE OCCUPATIONAL SUPERANNUATION STANDARDS ACT 1987

Division 2   Amendments relating to reasonable benefit limits (RBLs)

69   Application

 

(1) In spite of the amendments made, and the repeal effected, by this Division, the Principal Act continues to apply, subject to the changes set out in subsection (2) of this section, as if those amendments had not been made and that repeal had not been effected.
            

      

(2) The changes are as follows:
            

(a) paragraphs 15G(1)(a), 15H(2)(a) and 15P(1)(a) of the Principal Act do not apply to an eligible termination payment made on or after 1 July 1994;
            

(b) paragraphs 15G(1)(b), 15H(2)(c) and 15P(1)(b) of the Principal Act do not apply to an annuity where the payer commenced to make payments on or after 1 July 1994;
            

(c) paragraphs 15G(1)(a), 15H(2)(b) and 15P(1)(a) of the Principal Act do not apply to payments of a superannuation pension where the payer commenced to make payments on or after 1 July 1994;
            

(d) subsection 15J(1) of the Principal Act does not apply to an eligible termination payment made on or after 1 July 1994;
            

(e) subsection 15J(2) of the Principal Act does not apply to an entitlement to an eligible termination payment that arises on or after 1 July 1994.
            

      

(3) For the purposes of subsection (2), the payer of a superannuation pension or an annuity is taken to have commenced to make payments of the pension or annuity on the first day of the period to which the first payment of the pension or annuity relates.