Superannuation (Productivity Benefit) (2008–2009 Second Interest Factor) Declaration 20081
I, NICK SHERRY, Minister for Superannuation and Corporate Law, acting for and on behalf of the Minister for Finance and Deregulation, make the following Declaration under paragraph 3E (1) (b) of the Superannuation (Productivity Benefit) Act 1988.
Dated 19 June 2008
NICK SHERRY
Minister for Superannuation and Corporate Law
for and on behalf of the Minister for Finance and Deregulation
  
  
1              Name of Declaration
                This Declaration is the Superannuation (Productivity Benefit) (2008-2009 Second Interest Factor) Declaration 2008.
2              Commencement
                This Declaration commences on 1 July 2008.
3              Definition
                In this Declaration:
Act means the Superannuation (Productivity Benefit) Act 1988.
Number of days is:
                (a)    in the case of an employee who becomes a fund employee during the financial year commencing on 1 July 2008 — the number of days in the period:
                          (i)    starting on the day after the last day of the last pay period for the employee ending before 1 July 2008; and
                         (ii)    ending at the end of the day on which an amount first becomes payable under section 4F of the Act; or
               (b)    in the case of an employee in respect of whom an interim benefit becomes payable under section 6 of the Act during the financial year commencing on 1 July 2008 — the number of days between:
                          (i)    the day after the last day of the last pay period for the employee ending before 1 July 2008; and
                         (ii)    the day on which the interim benefit becomes payable; or
                (c)    in the case of an employee who does not become a fund employee during the financial year commencing on 1 July 2008, and in respect of whom an interim benefit does not become payable during that year — the number of days between:
                          (i)    the day following the last day of the last pay period for the employee ending before 1 July 2008; and
                         (ii)    30 June 2009.
 
4              Declared second interest factor
                For section 8A of the Act, the declared second interest factor for the financial year commencing on 1 July 2008 is:
0.0629 x Number of days

365

Note
1.       All legislative instruments and compilations are registered on the Federal Register of Legislative Instruments kept under the Legislative Instruments Act 2003. See www.frli.gov.au.