South Australian Repealed Acts South Australian Repealed ActsThis legislation has been repealed.
(1) The Southern State
Superannuation Fund is established.
(2) The assets of
the Fund belong (both at law and in equity) to the Crown.
(3) The Fund is
subject to the management and control of the Superannuation Funds Management
Corporation of South Australia.
(4) The Treasurer must
pay into the Fund from the Consolidated Account (which is appropriated to the
necessary extent) or from a special deposit account established by the
Treasurer for that purpose periodic contributions reflecting the contributions
paid to the Treasurer by members and spouse members with respect to the
relevant period.
(4a) Where money is
rolled over from another superannuation fund or scheme to the Triple S scheme,
the Treasurer must pay into the Fund from the Consolidated Account (which is
appropriated to the necessary extent) or from a special deposit account
established by the Treasurer for that purpose an amount or amounts equivalent
to the amount or amounts rolled over.
(4b) The Treasurer
must also pay into the Fund from the Consolidated Account (which is
appropriated to the necessary extent) or from a special deposit account
established by the Treasurer for that purpose the amount of any
co-contributions paid or transferred to the Board on behalf of a member or
spouse member (but received by the Treasurer on behalf of the Board) with
respect to any relevant period.
(5) All interest and
accretions arising from investment of the Fund must be paid into the Fund.
(6) The following
amounts will be paid from the Fund:
(a)
administrative costs and other expenses related to the management and
investment of the Fund;
(b) any
reimbursement of the Consolidated Account or a special deposit account that
the Treasurer charges against the Fund in pursuance of this Act.
(7) The Superannuation
Funds Management Corporation of South Australia must determine the value of
the Fund as at the end of each financial year.