South Australian Repealed Regulations

This legislation has been repealed.

SOUTHERN STATE SUPERANNUATION REGULATIONS 1995 - SCHEDULE 3

Schedule 3—Transitional provisions

1—Transitional provision— Southern State Superannuation (Insurance) Variation Regulations 2008

        (1)         If a member (other than a prescribed member within the meaning of Part 3 Division 2 of the Act) who has not taken out fixed insurance cover elects, by written notice to the Board, within 3 months of the day on which regulation 4 of the Southern State Superannuation (Insurance) Variation Regulations 2008 comes into operation (the commencement day ), to maintain the level of basic invalidity/death insurance cover to which the member was entitled before the commencement day, the amount of basic invalidity/death insurance to which the member is entitled, and is to have been taken to have been entitled on and from the commencement day, is 1 unit of standard insurance cover.

        (2)         If, for any week following the commencement day, the premium paid by the member for basic invalidity/death insurance cover has exceeded the premium payable in respect of 1 unit of standard insurance cover for that week, the Board is to refund the excess amount to the member's employer contribution account as soon as reasonably possible after receiving the member's written election under subclause (1).

        (3)         In this clause, terms used have meanings consistent with the meanings they have in regulation 7.