Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) Subject to this section, section 33 applies in relation to a payment of a transfer value under section 119V in respect of a person who has been a contributor to the Fund as if that payment were a payment of pension.
(2) In the application of section 33 in relation to payment of a deferred benefit, the reference in subsection (7) to $208 shall be read as a reference to such amount as the Board determines.
(3) Where the Commonwealth is required to make a payment by reason of section 33 in respect of a payment of a deferred benefit, section 106 and subsection (3) of section 119 apply in relation to that payment by the Commonwealth.
(4) Subject to subsections (5), (6) and (7), where a payment is made of a transfer value under section 119V, or of a deferred benefit under section 119W in respect of a person who has been a contributor to the Provident Account, the Commonwealth shall pay to the Provident Account an amount equal to two - thirds of the payment.
(5) The amount by which a deferred benefit by way of a pension is increased in pursuance of subsection (5) of section 119T is payable from the Fund without contribution by the Commonwealth.
(6) Where:
(a) an amount has been paid to the Fund or to the Provident Account under Division 2 in respect of a person; and
(b) a benefit is subsequently paid under this Act to or in respect of the person, being a benefit consisting of:
(i) a fortnightly instalment of a pension (including a pension constituting or forming part of any deferred benefits referred to in section 119W);
(ii) a sum referred to in section 82 or section 83 (including a sum constituting a deferred benefit referred to in section 119W); or
(iii) a transfer value referred to in section 119V;
sections 33 and 92 and the preceding provisions of this section do not apply in relation to the payment of that benefit but the Commonwealth shall pay to the Fund or to the Provident Account, as the case may be, an amount equal to so much of the amount of that benefit as the Board determines.
(7) This section does not have effect on and after 1 July 1976.