OCCUPATIONAL SUPERANNUATION STANDARDS REGULATIONS 1987 (REPEALED)

PART 3B - PRE-1 JULY 1988 FUNDING CREDITS AND DEBITS  

REGULATION 23PJ   PRESCRIBED EVENTS FOR THE PURPOSES OF PARAGRAPH 15D(4)(a) OF THE ACT  

23PJ(1)   [ Formula ]  

For the purposes of paragraph 15D(4)(a) of the Act, a prescribed event in relation to a superannuation fund is any alteration of the governing rules of the fund having the effect that calculation of a pre-1 July 88 funding amount under the rules as so altered produces an amount that is less than the amount calculated using the formula:

(PJFC originally granted to the fund)

+

(any PJFCs transferred to the fund)

−

(any PJFCs transferred from the fund)

23PJ(2)   [ Reference to PJFC ]  

A reference in subregulation (1) to a PJFC is a reference to the amount of the PJFC multiplied by the indexation factor calculated in accordance with subsection 159SG(2) of the Tax Act.