73CRequirements in respect of superannuation schemes for members of Defence Force

1. Before contributing to any superannuation scheme established or arranged in respect of one or more of the members of the Defence Force pursuant to section 73B, the Chief of Defence Force shall ensure—

3. that the scheme provides that the sum of all benefits (including any lump sum payments, annuities, and other benefits) payable from the scheme in respect of any member of the scheme will not exceed the sum of—
   1. contributions paid by or on behalf of a member and investment earnings thereon; and
   2. any allocations to the member from surplus funds held within the scheme; and
   3. the amount paid in respect of that member from any insurance policy effected for the benefit of members of the scheme; and
4. that the trust deed of the scheme defines the rates or amounts (if any) of contributions of the Chief of Defence Force or other employers and members of the Defence Force, or the basis on which such contributions are to be made; and
5. that the trust deed of the scheme entitles the Chief of Defence Force to cease contributing to the scheme on behalf of a person if that person ceases to be a member of the Defence Force; and
6. that the benefits provided by the scheme are fully funded as they accrue; and
7. that, if the scheme enables members to withdraw from the scheme, the scheme enables withdrawing members to transfer to other superannuation schemes the value (as determined in accordance with the terms of the scheme) of the benefits attributable to that person’s membership of the scheme up to the date of withdrawal; and
8. that the scheme enables any person who becomes a member of the Defence Force, if the Chief of Defence Force agrees to contribute to the scheme on that person’s behalf, to become a member of the scheme and to transfer to the scheme the value of the benefits attributable to that person’s membership of other superannuation schemes; and
9. that the trust deed of the scheme does not permit amendments to be made to the scheme which would result in any provision of paragraphs (a) to (g) ceasing to apply to the scheme.