(1)  The RBF Board must prepare and submit to the Minister for approval a draft of a trust deed to continue the defined benefit component of the former superannuation scheme for persons who, immediately before the second commencement day, were contributing to or required to contribute to, or were deemed to be contributing to, the former superannuation scheme.

(2)  The draft trust deed is to be prepared and submitted to the Minister –

(a) as soon as practicable after the commencement day; and

(b) after both the RBF Board and the former trustee have agreed that the requirements of the SIS Act relating to successor funds will be met on the commencement of the Trust Deed.

(3)  The Minister may approve or disapprove of the draft.

(4)  The Minister must not approve of the draft unless he or she is satisfied that –

(a) the Ambulance Service and the Health Services Union of Australia – Tasmanian No. 1 Branch have been consulted in respect of the draft; and

(b) the draft complies with, and is consistent with, this Act and the SIS Act; and

(c) the draft is consistent with the requirements of the SIS Act relating to successor funds.

(5)  The Minister must notify the Ambulance Service and the RBF Board, in writing, of his or her approval or disapproval of a draft submitted under subsection (1) and, in the event of disapproval, the RBF Board must prepare and submit to the Minister a revised draft in accordance with this section and any requests made by the Minister.

(6)  If the Minister approves of a draft, the notice of that approval provided to the RBF Board must specify the day on which the Trust Deed is to take effect.

(7)  After the Minister approves of the draft –

(a) the Minister and the RBF Board must execute the Trust Deed; and

(b) the Minister must cause to be published in the Gazette notice of –

(i) the Minister's approval, stating the day on which the Trust Deed is to take effect; and

(ii) the execution of the Trust Deed.

(8)  The Trust Deed takes effect on the day specified under subsection (6) .

(9)  The Trust Deed is binding on the Ambulance Service.

(10)  If a notice referred to in subsection (7)(b) is not published in the Gazette before 30 June 2006, then on 30 June 2006 the former trust deed is taken to be the Trust Deed, the Tasmanian Ambulance Service Superannuation Scheme is closed to new members, and, notwithstanding any provisions of the former trust deed and the Ambulance Service Act 1982 , the RBF Board is taken to be appointed as the trustee of the Tasmanian Ambulance Service Superannuation Scheme and the former trust deed continues to have effect, as the Trust Deed, until midnight on the day immediately before the day specified under subsection (6) .

(11)  If the former trust deed is taken to be the Trust Deed in accordance with subsection (10) , the Trust Deed is not invalid by reason of any non-compliance with this Act.