CLAUSE 3.—(Provisions with respect to independent superannuation schemes.) (Hansard, 6 February 1945)

§ Mr. Butler

I beg to move, in page 4, line 43, at end, insert: or, as the case may be, in accordance with the corresponding provision of the local Act scheme, together with compound interest on those contributions, calculated to the date on which he ceased to be a contributory employee or a local Act contributor, at the rate of three per cent. per annum with half-yearly rests. This Amendment and two which I will move to Clause 6 fill in a slight gap in the wording of Sub-section (4) of Clause 3. As at present worded, it does not cover the case of a contributor under a local Act where repayment of contributions has to be made, and it is felt that a reference should be made in terms to the corresponding provision for repayment under the Local Act scheme. There is further provision in this for repayment of contributions with compound interest. These matters have been brought to our attention by those who are familiar with the intricacies of the question, and I think that they are probably a great improvement to the Bill. I am grateful for the suggestions that have been made to me.