16Superannuation or retiring allowances

1. For the purpose of providing superannuation or retiring allowances for the Commissioner or Deputy Commissioner, the Commissioner may, out of the funds of the Commissioner, make payments to or subsidise any retirement scheme (within the meaning of section 6(1) of the Financial Markets Conduct Act 2013).

2. Subsections (3) to (5) apply to a person who, immediately before being appointed as the Commissioner or the Deputy Commissioner or, as the case may be, becoming an employee of the Commissioner, is a contributor to the Government Superannuation Fund under Part 2 or 2A of the Government Superannuation Fund Act 1956 (the 1956 Act).

3. The person is, for the purposes of the 1956 Act, to be treated as if the person continues to be employed in the Government service while the person is the Commissioner or Deputy Commissioner or, as the case may be, an employee of the Commissioner.

4. However, if the person ceases to be a contributor to the Government Superannuation Fund after their appointment or employment, the person may not resume making contributions to the Fund.

5. For the purposes of applying the 1956 Act to a person under this section, controlling authority, in relation to the person, means the Commissioner.